Joe emphasizes the importance of proactive automotive succession planning. Neglecting the future sustainability of the business not only harms profits but also jeopardizes the livelihoods of dedicated employees. Succession planning isn’t solely about transferring ownership—it’s about securing ongoing success for those who rely on the business for their livelihoods.

Nepotism, enablement, and resentment often breed dysfunction within family-run businesses. Clearly outlining expectations for family members, management, and critical leaders is essential. This transparency minimizes conflicts that can otherwise undermine business performance and cherished relationships.

How We Help You

Are you struggling with family business succession planning? Joe stresses the importance of proactive automotive succession planning to ensure the long-term sustainability of your business. Neglecting this crucial aspect not only impacts profits but also puts the livelihoods of dedicated employees at risk. Succession planning goes beyond ownership transfer; it’s about securing ongoing success for those reliant on the business.

Navigating challenges such as nepotism, enablement, and resentment within family-run businesses can be daunting. Clearly defining expectations for family members, management, and key leaders is vital to minimizing conflicts that could hinder business performance and strain relationships.

Contact us today for insights and resources tailored to your family business succession planning needs. We’re here to support you and your business. In just 30 minutes, you could gain valuable ideas to apply to your business immediately. Let’s work together to secure the future success of your automotive dealership.

Succession Planning Resources

  • Succession Readiness Survey:  A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook, impacting business value, growth, lifestyle, and ultimately achieving your vision.
  • Contact Us: We can help you with insights and other resources and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business immediately.

For more insight from Joe Chastang of Chastang Ford, check out the next episode in the 10-part series:  Take the Business to the Next Level


The Succession Planning Matrix

Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession Matrix.family-business-succession-planning

Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.

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We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.