Leading Through Transition
There is light at the end of the tunnel. You are resilient and events in our history like COVID-19 make us stronger and innovative to solve the issues unique to times of turbulence. We have shepherded our clients through many environments like we have today.
Resources
What 3 Things Dealers Must Consider for the Future
There are countless strategies for achieving your personal and business vision. Whether it is a family-operated business integrating family into leadership/ownership positions, keeping the business as a family asset but delegating operations, or selling to a third party, the key is to determine the right strategies specific to your unique goals. Like most car dealers, [...]
How to Adjust Business Strategies to Prepare for Recession
As succession planners, we are frequently asked by multi-unit franchisees how to prepare for change and transition. On top of the mind of many multi-unit franchisees is an impending recession and talent shortages which requires adjustments to their growth strategies. Preparing your business for future change depends on whether you are in a mental, [...]
Strategies for Multi-Unit Franchisees to Succeed Despite Economic Uncertainties
Even though Wall Street predicts 2022 and 2023 will have 10% growth in earnings and isn't currently anticipating any slowdown, many multi-unit franchisees have expressed concern over economic uncertainties. Talks of inflation, change in tax law, ongoing supply chain issues, and labor shortages have multi-unit franchisees wondering how or if [...]
Family Successors Too Young or Unqualified?
Lack of a qualified family member successor is a common reason family business owners decide their only option is to sell their business; otherwise, they would rather keep it as a family asset. However, for owners looking to transition out of daily operations or "bridge" the leadership gap if something [...]
Leadership: Secrets to Harnessing Confidence and Consistency
This is part two of our discussion focused on What People Want from Their Leaders. In the last episode, What People Want From Their Leaders, we discussed four key ingredients for inspiring others: trust, flexibility, consistency, and patience. This episode immediately picks up in reinforcing how much people want to believe [...]
Create More Control Over Your Future
No one can predict the future, but as a business owner, you can manage uncertainties by strategically thinking through the possible, probable, and potential issues impacting your long-term goals. This is where succession planning comes in. A succession plan provides a roadmap outlining growth strategies, contingency plans, governance guidelines, leadership transitions, and strategic plans. [...]
