David Weaver, one of our experienced associates, recently offered insight to the readers of franchising.com on key issues impacting families who work together in business. Article Summary Differences between siblings, cousins, in-laws, or between parent and child can be devastating to family relationships and the business. It may begin with some small incident that [...]
Dan Iosue, one of our experienced succession planners, provided the readers of franchising.com insight on how to drive increased employee satisfaction through better development feedback. Article Summary Many of our clients struggle with employee turnover and motivational leadership. No doubt many competitive business environments are difficult, with long hours and stressful deadlines. Employment rates [...]
It’s easy for Nextgen leaders to get involved and make swift changes. The path to change can appear so clear, but many potholes are lurking in the shadows. Loyd Rawls and Dr. Merlot (Loyd’s alter ego) share a real life story about a Next Gen leader dealing with the balance of evolution versus revolution in [...]
When starting out, business owners are not looking at the end game. Much less is there thought of engaging in succession planning. After all, isn't succession planning for when the end in near? That is where most business owners make their mistake, thinking succession is only about exit strategy, estate planning and retirement. And [...]
Apathy, skepticism and disgust are sentiments shared by millions of Americans as a result of the greed and selfishness pervading our society today. For some, it is definitely all about the money even if generating business profits is at the expense of others. Others see money and profitability as a measuring stick of how [...]
Culture is critical in recruiting and retaining top talent. Part of building a winning culture is ensuring you are hiring the right people. The stronger your team of people, the more efficient your operations will run and the more likely you will have a bench to groom future managers and leaders. How does all [...]
Just as important as financial due diligence is cultural due diligence when acquiring new businesses on your path to growth. That is intentionally comparing cultures, mission, and goals to determine if they are in alignment with your existing company culture. As we all know, the people and the customers are what keep the business [...]
Please forgive us for being academic, but in order to fully understand business succession, we are going to define a few terms. First, an often confused first cousin, business continuity or exit planning: As the term describes, business continuity is the continued existence of a business, as in the business continues. An exit planning [...]
Misconception #5 - A Succession Plan Isn't Needed If I Plan to Sell A common misconception is the thought that plans to sell your business negate the need for succession planning. Unfortunately, this thought process couldn't be more wrong, and has a direct impact on the amount of cash you’ll have in your pocket [...]
Misconception #4 - I'm Too Young to Think About Succession Planning Translation: “I am bulletproof and have no intention of dying prematurely; I am not interested in enhancing business productivity, profitability and teamwork; the business is all about me; and I am not interested in protecting the value of my business and the welfare [...]
