Whether gifted, bought, or developed from the ground up, business owners put their passion to work to establish a lifestyle and opportunities for their families. Far from the entrepreneur's mind is succession planning because many believe it to be the end; when, in actuality, it provides options to create your vision. Succession planning is [...]
Expressed wants and needs of employees, family, strategic partners, and customers can feel like a constant push and pull environment as a business owner. Add in external influences such as the pandemic, the political climate, supply chain, and finding workers; our environment is constantly changing, which requires strong leadership with a strategic mindset. Strong [...]
Dealers are seeing record profits in spite of a global pandemic and limited inventories. This has many dealers wondering if they should be building the portfolio by buying more stores or taking advantage of the market and selling to get top dollar, and others are wondering what will happen if they just stay in [...]
A plan is simply a snapshot in time. It considers all assumptions made at the time of developing it has played out exactly as prophesized. But, our worlds are action-packed and dynamic, which leads to the saying by Robert Burns “The best-laid plans of mice and men often go awry. [...]
We Often Hear “I Have A Plan." At 24 I Had a Plan, probably like many of you in your 20’s. If you are 24 and reading this you may not get the “joke” but if you are at least a year older than 24, say 26, you get it. [...]
Listen in to Hugh’s insight into how to create meaningful strategies to ensure you are harboring gratefulness versus unintended resentment amongst family. A grateful heart is significant when we feel we’ve gone above and beyond to provide something for our children/grandchildren. Knowing our children are thankful usually inspires us to [...]
One small misstep that was unforeseen, unexpected, and totally not at all planned for has had impacts on the global economy at large. Similarly, succession planning, if not engaged in, can do the same thing to the personal financial future of a business owner AND the sustainability of the business. [...]
The term bench strength may appear abstract and very indirectly placed in your business as most would consider the term (bench-strength) to define one person laying on a bench-press while on the brink of lifting a weighted bar. However, if we conceptualize the components of skills, capabilities, experience, and who contributes those components daily [...]
Your business's value depends on the strength and quality of operations, culture, people, and reputation. These areas can be where they need to be to take your business into the future IF you commit to succession planning. Your business is more valuable to you than anyone if you can create an effective union of [...]
“Families” comes in all forms, shapes and sizes including in-laws, cousins, children, step children and even business partners who are also best friends. The relationships you have with those in your formal and informal family have a positive or negative impact on the achievement of your business goals and succession vision. Bickering among active and [...]
