Automotive

Accelerating Growth: Developing Leadership Bench Strength to Drive Success

2023-05-31T11:29:12-05:00By |Automotive, National Association of Minority Auto Dealers, Succession Blog, Video|

In the fast-paced world of the automotive industry, growth and expansion are crucial to success. However, the growth process can be internally daunting, especially when it involves bridging the gap between your managers and leaders' knowledge and experience. Evaluating and creating a management and leadership depth chart is the first [...]

Succession Planning and Family Generational Wealth Transfer

2023-05-11T12:36:49-05:00By |Automotive, National Association of Minority Auto Dealers, Succession Blog, Video|

Succession planning is a critical consideration for anyone looking to transfer their wealth to future generations. However, it is also important to consider the broader implications of asset transfers, especially when it comes to creating equitable opportunities for your minority key managers. In a recent video, Jean Venant, Succession Planner [...]

Earning Respect in the Family Business

2023-03-06T10:12:02-06:00By |Automotive, Family Business Balance, Video|

A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses [...]

Strategies for Maximizing Success in Your Dealership

2023-02-14T11:13:38-06:00By |Automotive, Succession Blog|

The auto retail industry has experienced dramatic changes and disruptions in recent years, leading to an unprecedented level of volatility and transformation. Profits have reached historic highs, dealerships have been bought and sold at a rapid rate, and a new generation of large dealers is emerging. This period of rapid change has been a [...]

What 3 Things Dealers Must Consider for the Future

2023-01-11T13:31:53-06:00By |Automotive, Succession Blog|

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, [...]

Buying or Selling Your Dealership: 5 Things You Must Consider

2023-01-11T13:33:35-06:00By |Automotive, Succession Blog|

Dealership profits continue to soar, and dealership valuations are at record-high levels.  This is creating a surge of activity in automotive retail buy-sell.  All this activity is creating wonder around buying or selling, prompting many dealers to revisit their succession plans. Champ Rawls, a Succession Planner with The Rawls Group, and Alan Haig, President [...]

Next Gen: Empire Builders Vs. Caretakers

2022-08-23T16:03:57-05:00By |Advisor Collaboration, Automotive, Future Proof Your Dealership, Succession Blog, Video|

Successfully integrating family into the business, whether as an employee, manager, or one-day successor, requires having a plan. Next-Gen business owners may need to invest their entire net-worth back into the business to compete with the larger consolidators. This means being less a caretaker of the business as generations past, [...]

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 [...]

Maintaining Control Of Your Business While Delegating

2022-08-23T16:04:33-05:00By |Advisor Collaboration, Automotive, Future Proof Your Dealership, Succession Blog, Video|

Operating a store is hard work, but it is rewarding. A common question we hear is what are the options to keep the dealership(s) as a family asset if no family is interested or capable of filling the shoes as Dealer/Operator. The good news is that the world is your [...]

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Leadership in Uncertain Times

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