Family Governance

As Seen in Digital Dealer – Happy and Harmonious Holidays – are Possible!

2020-01-21T11:47:51-06:00By |Categories: Succession Blog|Tags: , , , |

All successful relationships are built on the foundation of strong communication – it is the glue that holds it all together. When communication starts to breakdown, or perhaps you are not sure if it already has, there are two key indicators: Avoiding Conflict Engaging in Conflict When family and business get to this point, [...]

Case Study – Unified Vision for Business Growth

2020-01-03T14:57:42-06:00By |Categories: Case Histories|Tags: , , , , , |

Industry: Manufacturing: large-scale screen printing for tourist industry attractions. Company Overview: Dad and Mom founded the company over forty years ago out of a single store-front tee shirt printing business in rural Central Florida.  As a first-generation business, the family persevered through many boom and bust cycles within their industry.  Dad and Mom are [...]

As Seen in Multi-Unit Franchisee Report – Dealing With Dysfunctional Behavior In The Family Business

2019-12-23T12:32:19-06:00By |Categories: Succession Blog|Tags: , , , |

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 escalates or a series of decisions that never gets resolved due to differences in perspective or opinion but regardless of the trigger, it can lead to devastating [...]

As Seen in Automotive News – We’re built for this – How a California dealership group keeps business in the family

2019-11-18T14:56:07-06:00By |Categories: Video|Tags: , , , , , , , , , , , , , , , |

“We are built for this” highlights the story of how two people with vastly different personalities and business beliefs found common ground to grow and successfully transition the business from gen 1 to gen 2. Hugh Roberts, Jeff Bannon, Howard and Susan Drake discuss different strategies implemented key to their success and what they [...]

As Seen in Multi-Unit Franchisee Report – Succession Planning Is More Than Your Estate And Exit Plans

2019-12-23T12:16:30-06:00By |Categories: Succession Blog|Tags: , , , , , , , , , , , , , , , |

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 [...]

Defining Succession

2019-11-15T12:29:01-06:00By |Categories: Succession Blog|Tags: , , , , , , , , , , , , , , , , , , , |

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 [...]

5 Succession Misconceptions & How They Impact Business Value – #5 A Succession Plan Isn’t Needed if I plan to Sell

2019-11-15T12:25:46-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

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 [...]

5 Succession Misconceptions & How They Impact Business Value – #4 I’m Too Young to Think About Succession Planning

2019-11-15T12:23:39-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

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 [...]

5 Succession Misconceptions & How They Impact Business Value – #3 Succession Planning and Business Growth Aren’t Related

2019-11-15T12:20:00-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #3 - Succession Planning and Business Growth Aren't Related Succession planning is not about you leaving the business; it’s about building a foundation of success today that will set the course for future generations. Your organization may be in 'growth mode' so you’ve put succession planning on the back burner. But growth without [...]

5 Succession Misconceptions & How They Impact Business Value – #2 Succession Means Retirement Planning

2019-11-26T13:39:31-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #2 – Succession Planning Means Retirement Planning Succession planning often fuels a myriad of emotions. “No one is gonna push me out!” “Succession, that’s all about retirement, and I’m not going anywhere anytime soon!” “I like control; I’m not giving it up!” While all of these are valid emotions [...]