A trust protector is vital for family businesses to safeguard the trust and beneficiary from issues or circumstances that could lead to problems down the road. To illustrate this point further, Loyd Rawls shares an anecdotal story of a family business matter, where the role of a trust protector proved to be particularly important. [...]
The retail automotive industry is one of the most regulated by both state and federal authorities. This is in part because dealerships are some of the largest producers in the United States of financing and insurance products, in addition to the automobile sales and service. In 2017 the Tax Cut and Jobs Act of [...]
Being an effective leaders means you have to be in tune with your own attitude and management style. Loyd’s alter ego, Dr. Merlot makes a cameo in this article, sharing a story about a very busy and active car dealer who needed some help from Dr. Merlot. Click the following link to read Loyd [...]
I was sitting at my desk when Dr. Merlot sauntered in, sat down quietly waiting until I finished an email. As I hit the send button I realized something was up because he was never this patient. Curious for sure, I looked up and leaned back, “What’s up Doc? Anything wrong?” He crossed his legs [...]
As we go into this holiday season, many may find themselves thinking, “I just might have had all the family I can handle.” The holidays are wonderful and provide togetherness and memories. But if you work with family, it is very easy to get "over-familied" and with that, a growing sentiment of needing space. The [...]
Dr. Merlot and I met up during a layover in Charlotte in route to a family business operating three semi metro dealerships in the Midwest. In our previous visit, we had been dealing with a daughter with a drug issue. Now we were focusing on preparing the dealer’s son and other daughter to be approved [...]
Where the holidays may be a hot spot for family issues, spouses working together in business create opportunities for conflict throughout the entire year. Marriage vows speak to commitment during "richer or poorer and sickness and in health." Managing personal finances, sacrificing and nurturing individual needs for the sake of the union, and disagreements about [...]
One of the biggest questions dealers are asking these days is when and how to bring their next-generation of the family in the dealership. The simple answer to this is that they should come into your business when they, and you are ready. Readiness, however, is a subjective term. These three perspectives, should be considered [...]
In a collaborative effort to demonstrate some common roadblocks that both DHG Dealerships and The Rawls Group often sees within family-run dealership clients who are in the process of making leadership changes, this case study will briefly analyze the family dynamics between Sam (dealer) and his son, Mark. Background At 80 years-old, Sam is [...]
Most owners and leaders of privately-held dealerships are wondering what’s going on with the publicly-held dealership groups as they engage in consolidation. These consolidators generally look down upon the privately-held dealerships as competitors because “I previously fired most of their employees”. Furthermore, there is general resentment that the local “dealer club” has been disrupted by [...]
