Even though Dealers are making money, the future is unclear; for some, the unknown creates anxiety. As a result, we see business owners considering, more than ever, if it is an excellent time to cash out. Succession planning allows you to choose your best outcome – identifying your strategic objectives to fulfill your vision and provide for your family, not just business goals.
For example, suppose you are working to make the business the best it can be by department, person, or structure. In that case, you can’t go wrong if the outcome is passing the business on to your family or key manager or putting it on the market to sell and get the best possible price.
In this episode, Pete Theil with Haig Partners and The Rawls Group’s succession planner Champ Rawls discuss strategies to create more control over fulfilling the future you envision.