Real Client Succession Planning Experiences
Join us on an enlightening journey as we unveil real-life case studies demonstrating the profound impact of The Rawls Group’s expertise and proven succession process on the lives of our clients. Prepare to be inspired by their stories of challenges conquered, and triumphs celebrated while navigating the intricate landscape of family dynamics, employee and customer expectations, and ever-evolving competition.
Throughout this series, you’ll gain profound insights into the essential components of a successful family business succession plan. From fostering effective communication and adept conflict resolution to nurturing strategic leadership development and sound strategic planning, this video series underscores the significance of long-term planning and proactive decision-making when safeguarding the legacy of a family business. With thoughtful succession planning, families can bridge generational divides, nurture cohesion, and create a lasting impact that transcends the boundaries of their enterprises.
Whether you’re a family business owner seeking inspiration and guidance for your succession journey or a professional advisor aiming to bolster your expertise in this specialized field, this video series is a treasure trove of invaluable insights. Learn how practical strategies have positively transformed the lives of families, employees, and communities associated with these family businesses.
Succession Planning Stories
Mastering the Delicate Balance Between Family and Business
From Joe's perspective, succession planning is the most reasonable thing he has done to help his business. As Joe says, "Like it or not, the family business is tough." It never is "just business" when the family is involved, so it is hard to separate business and family matters. However, [...]
The Power of Succession Planning for the Business, Employees, Families, and Community
Many lives depend upon the business's ongoing success, employees, families, and community. Succession planning is an investment that returns incredible dividends. Whether you are looking to transition ownership or sell for the highest multiple, succession planning ensures you have the right amount of capital, the right people to lead, and [...]
Harmonious Family-Business Integration through Succession Planning
Integrating family into the business is a tricky process. Commonly, owners are either too easy or too hard on their kids, and with no formal process, next-generation flounders. Insecurities and resentment grow in this environment, impacting professional development and family relationships. Succession planning provides formality and discipline for the family [...]
Developing Future Leaders: Empowering the Potential of the Next Generation
Succession planning shows your employees you care and are committed to being around for the long haul. In addition, the business provides for many families, so engaging in long-term planning and communicating strategic plans is a talent recruitment and retention tool. Employees have certainty about their income's future and a [...]
Chastang Ford: A Houston Ford Dealer’s Succession Planning Journey
As a first-generation business owner, Joe Chastang has built a solid and successful diversified business in downtown Houston, TX. Initially, an employee of Volvo heavy truck, starting in 1991, Joe purchased a Volvo franchise in '94 when Volvo decided to eliminate their corporate-owned stores. After nine years of ownership, and [...]
Empowering Next-Gen Family Members, Both In and Out of the Business
Thirty-five years ago, Roland Spongberg started a restaurant company with one El Pollo Loco in Long Beach, CA. Today, WKS Restaurant Company employs 12,000 employees across 375 restaurants in 19 states operating Denny’s, El Pollo Loco, Krispy Kreme, and Wendy’s. From a pure family perspective, with six children, Roland initially [...]
