Succession MD – We Got the Answers!

Succession MD – We Got the Answers!2020-04-08T12:28:33-05:00

Who is Dr. Merlot?

The Doc is the straight talking alter ego of Loyd Rawls. He consults with The Rawls Group and their clients in  those hard to hear business, family, management conundrums.

Business ownership by nature is risky; succession planning however creates strategies and structure to put you in control.

Lean on the Doc!


If you are having any of the following symptoms, you are not alone:

  • Worry, fear and anxiety
  • Loss of control and understanding
  • Concern for what the future looks like
  • Apprehension to do anything
  • Unease about how to move forward
  • Emotionally, mentally exhausted and confused

These are all normal during times of crisis and transition. Fill out the “Ask the Doc” form to the right with your question, and the Doc will write you back.  If you would rather talk it out, let the Doc know and he will connect you with someone on the team. Here are some of the hottest questions being asked right now:

Succession FAQ


COVID-19 FAQ


My family/partnership is so dysfunctional, even if I create a succession plan I doubt anyone will follow it, so what’s the point?2020-04-08T09:45:04-05:00

Creating a succession plan that will be followed through with is a team effort involving you, your family and any other business partners. Engage your family in this process and develop an “our,” rather than a “my,” succession plan. To do this you need to show your family/partners the fundamental respect of asking what they want and begin developing a plan around those issues upon which you can progressively find agreement.

By including your family and business partner’s thoughts, feelings, input, and feedback into the succession plan, you will greatly increase the chance that it will be followed when you are no longer around to enforce it.

More

My family creates a lot of problems in the business. How do I manage both relationships successfully?2020-04-08T09:45:31-05:00

If you want your family business to survive for the long haul, it is vital to work on your family issues. The simple reason some families seem to navigate tumultuous waters with relative ease is they diligently engage with each other. Connectivity is the key for smooth sailing, no matter what happens. Families who spend time together, develop a great deal of flexibility, are not rigid in their roles and patterns; they generally give each other the benefit of the doubt; and they have developed healthy communication patterns. There really is no magic to it. It’s just plain old hard work.

More

I’m in business growth mode, should I be thinking about succession planning right now?2020-04-08T09:46:15-05:00

Succession planning is not about you leaving the business; it’s about building a foundation of success today that will provide the opportunity for future generations. Before making the next purchase or striking the next deal to grow your organization, you should ask yourself the following questions:

  • Do I have the full support of my management and leadership?
  • Do I have the excess capital and resources that growth requires?
  • Do I have the confidence that my successors could manage what I’m building in my absence?

The questions surrounding growth can all be answered through succession planning to ensure your growing in the right direction.

What does the path forward look like?2020-04-08T10:11:25-05:00

I am far from a fortune teller, but I can share that history proves that this too shall pass. We need to be vigilant, patient, and at the same time, motivated to keep things moving forward as much as we can.

More Resources 

When will this be behind us?2020-04-08T10:10:07-05:00

Many will say that as soon as the curve flattens out, we will be moving forward. However, we must prepare for some lingering affects which can still impact us in the long-term. It will not be business as usual for a while, but we have to do what we can to lean on our advisors to help us keep moving in the right direction.

More Resources 

How do I ensure me, my family, my employees and my business are able to navigate the unknown?2020-04-08T10:08:30-05:00

Knowing a crisis can hit anytime and as we have seen with COVID-19, very unexpectedly, the best prescription to keep from being here again is to ensure you have a solid strategic and succession plan in place. The strategic planning process can help you define goals which may include crisis prevention/communication, where as your succession plan is all encompassing to help you protect your family, legacy and future of the business.

More Resources 

Resources for Research

Ask Dr. Merlot

Latest Posts

4 Steps to Stay Calm and Carry On

Categories: Leading Your Business Through Transition, Succession Blog|Tags: , , , , , , , , , , |

This simple phrase helped the British people to deal with the crisis of WWII. It’s powerful but how do you do this, when you’re anxious about so many things? Our lives feel up side down and we’re being told to live our lives completely differently than normal. My wife married me for better or [...]

Video: Stay Calm and Carry On

Categories: Leading Your Business Through Transition, Succession Blog|Tags: , , , , , , , , , , |

In “Stay Calm and Carry On” Hugh Roberts provides uplifting encouragement to business owners during times of stress, such as COVID-19. Download Hugh's PDF List Actions Hugh challenges us all to reach out to help when you need it, as these are tough times. Those working from home and juggling [...]

Creating a Culture of Opportunity for Others: Episode 6 – Respect in the Workplace

Categories: Podcast Episodes|Tags: , , |

Culture is the foundation of what a company is built – it is precious and irreplaceable. It is one thing that you have to be intentional about maintaining through change, which means working harder on it than anything else. IF, of course you are looking to build not just a company, but a legacy. [...]

The Path Forward Recording – Virtual Conversation – April 1

Categories: Leading Your Business Through Transition, Succession Blog|Tags: , , , , , , , , , , |

As a caring leader your people are looking to you for encouragement, optimism and strategies for the path forward. Listen to the discussion and hear what our  panel of  Legal, HR/people, Tax, Strategy and Leaderships experts had to say about the CARE Act, SBA Loans, Paycheck Protection Program and strategies for leading during times of stress and [...]

As Seen in Multi-Unit Franchisee Report – Being There For Employees And Customers During Covid-19

Categories: Succession Blog|Tags: , , |

What is happening? Where are we going? When will this end? How much worse can it get? These are challenging and uncertain times, to say the least. In just a few days the economy began to grind to a halt while anxiety and panic left the general public with their mouths wide open. Your [...]

Dr. Merlot’s 9 Reminders to Survive and Thrive

Categories: Dr. Merlot, Leading Your Business Through Transition, Succession Blog|Tags: , , , , , , , , , , |

Dr Merlot provides 9 reminders to survive and thrive during tough times like COVID-19.   Main thing to remember, is "YOU GOT THIS." Download Dr. Merlot's reminders below, but before you do; it is worth hearing the commentary. Download PDF List of 9 Reminders Contact us and we can help [...]

The best time to plan for your legacy is now.

Get in touch, and we’ll help you take the first steps.

Download free report: 5 Succession Planning Misconceptions
Connect with us