When the next generation of family does not want to keep the business going, there are options available. You can liquidate, sell or keep the business long after you are gone. You first have to identify what your goals and vision look like, and then you need to rely on [...]
Just because your kids do not want to be involved in the business, does not mean you are out of options for maintaining the legacy. The last thing you want to do is force your business down to the next generation who may not have the same passion for it, [...]
As a team, make the right decisions, communicate often and be flexible are key elements for businesses who rely on customer interactions. There is no question customers are going to want continued personal interaction, it just may look and feel different. Bill Lowman, Partner with Shuffield Lowman advises businesses to [...]
Bethany Lynch with MCM CPAS and Advisors and Dan Iosue and Champ Rawls with The Rawls Group offer insight into how dealers can successfully start to reopen. Key points to consider: Have a plan in place and communicate it to your people. Take into consideration your state and local guidelines [...]
We often get too focused on what we are going to say to our customers and clients and forget about our employees. It is critical your employees are informed well before your clients. This provides a sense of being safe and protected and keeps the rumor mill from churning, while [...]
Flexibility and building trust are cornerstones as we move into the new normal. Safety protocols will continue to evolve and franchisees will need to be flexible in order to continue to navigate them. Kim Kraemer with Citrin Cooperman Accountants & Advisors, Michael Einbinder with Einbinder & Dunn LLP, Jeff Bannon [...]
Confidence, compassion, transparency and listening are four keys for sending the best message to your people during a crisis. As leaders we need to be authentic, relatable and be willing to show our human side. Jenny Cybul with Bennet Thrasher and Dan Schneider with The Rawls Group talk about the [...]
The biggest consideration for business owners as you start to reopen is ensuring the safety for your people, customers and communities. It is your job to ensure you get your people back to work safe, and that your protocols and process are clearly documented and communicated. Matthew Scully with Burr [...]
One thing that is consistent for car dealers is change. It is one industry which has always been able to drive through the unknown and not only survive but thrive. Callie Whatley with Burr & Forman and Loyd Rawls with The Rawls Group share what they believe the new normal [...]
What Is the Best Way to Approach Training Your Employed Family Members? A family business is an inherently volatile environment due to the combination of the emotion of family with the cold reality of business accountability, creating frustrations on the part of all family members. The keys to effective family management are respect, communication [...]
