Even in the midst of a pandemic and the strife many faced personally and professionally, there are silver linings around it. As we mourn the business and personal losses, we also celebrate the opportunities created. Interest rates have remained low, dealers have been able to reevaluate expenses and look at ways to be more efficient and effective throughout the business and we’ve also been given the ability to look inward and reprioritize what is most important in our personal lives. The biggest opportunity the pandemic has presented for everyone is the ability to reflect on how we can learn from it and go about business AND our personal lives with more intentionality and focus.
Thank you to Jay Goldman of Boyer & Ritter and our very own succession planner, David Ciambella, for sharing your expert insight.
As you listen to this episode, you will walk away with key take-a-ways and will realize you will want more. Click to visit the “Burning Question” topic page to easily access the additional episodes in the series.
Do you have a burning question you want to discuss with an expert? Submit your question via the Ask An Expert form!
Tune into more burning questions by subscribing to our blog on the right side of the page. You will receive updates when new episodes are live that will address:
- Adjusting to the new normal for industries that rely on customer interactions
- Messaging for business owners/leaders to share with their people in times of crisis
- Navigating the path when some family want to work in the business & others pursue other careers
- Addressing uncomfortable subjects that are more difficult during the crisis as opposed to normal times
- Strategies for helping a son and daughter to learn how to work together
- Navigating business transitions when the next-gen is not interested in the family business
- Proactive strategies to position the business for the “unknown”
- Communication tactics ease employee’s anxiety and worry
- Managing emotions of others and self in times of stress
- Strategies to increase sales to cover costs and create more points of revenue
Business value is tied to performance. Top talent, strategic vendors, and creditors will be influenced by the organization’s competitive advantage in the marketplace. Traditionally, transitions generally bring with it a drop in profits. It is crucial that your business is operating at peak performance in order to fulfill cash flow needs and expectations during times of transition.
Click the following links for more drill-down resources on Business Performance.
Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.
We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.