Succession Success Stories

Didn’t Want to Screw It Up

2022-08-28T20:17:24-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

Successfully integrating family into business leadership while balancing family dynamics is full of complexities. As Joe Chastang shares, many private and family business owners screw it up. Thanksgiving and Christmas come around every year, and the business provides for 100+ employees.Mis-matched expectations, communication differences, and management styles can create challenging moments [...]

Importance Of Establishing Multigenerational Succession Standards In Auto Dealerships

2022-09-22T06:01:24-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

As Joe shares, it isn't fair to the business's employees for an owner to be lazy and not invest in the future success and sustainability of the company. Therefore, business succession planning isn't just about protecting profits and transfer of ownership; it is also about positioning the business for continued [...]

Dealership Succession Planning: Take the Business to the Next Level

2022-09-21T14:34:55-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

Succession planning builds value. Joe shares that one of many benefits of the succession planning process was learning how to run the company better. As a car and heavy truck dealer, Joe Chastang and his leadership team are good at selling vehicles, labor, and parts. An outside perspective focused on [...]

Focused Leadership

2022-08-03T05:37:33-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

High-performance cultures require discipline. Formalities, efficient processes, and strategies that reward teamwork and achieving goals motivate and inspire employees to go the extra mile. As Joe shares, the succession planning process helped his leadership team focus on priorities which has resulted in managing their company, employees, and family-business dynamics. Because [...]

Family Business: Deal With Each Other Better

2022-09-21T14:20:33-05:00By |Automotive, Succession Success Stories, Video|

Familial communication patterns can create stress in the business environment. Assumptions, stereotypes, and emotional baggage often cloud judgment, reactions, listening, and getting to know someone as an adult versus just a sibling or child. Many believe a Will, Trusts, and business agreements are the crux of succession planning; however, as [...]

Family and Employee Livelihoods Depend on Success of Business

2022-09-21T15:18:05-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

Many lives depend upon the business's ongoing success, employees, families, and community. Succession planning is an investment that returns incredible dividends.Whether you are looking to transition ownership or sell for the highest multiple, succession planning ensures you have the right amount of capital, the right people to lead, and the best [...]

Integrating Family is Tricky

2022-09-21T15:10:24-05:00By |Automotive, Succession Blog, Succession Success Stories, Video|

Integrating family into the business is a tricky process. Commonly, owners are either too easy or too hard on their kids, and with no formal process, next-generation flounders. Insecurities and resentment grow in this environment, impacting professional development and family relationships. Succession planning provides formality and discipline for the family [...]

Succession Planning: Developing the Next Generation

2022-09-21T14:28:14-05:00By |Automotive, Succession Success Stories, Video|

Succession planning shows your employees you care and are committed to being around for the long haul. In addition, the business provides for many families, so engaging in long-term planning and communicating strategic plans is a talent recruitment and retention tool. Employees have certainty about their income's future and a [...]

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What is Changing In the Areas of Estate Tax?

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Planning Opportunities To Take Advantage of Now

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Leadership in Uncertain Times

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