Private equity firms have been making waves in various industries, from healthcare to technology, and even sports. While private equity (PE) may seem appealing due to the potential for high returns and the various options it offers as a business owner, it is crucial to understand the unexpected outcomes that may impact your business [...]
In family business environments, it is common for business owners to feel overwhelmed by the question of who will become “king” or “queen” when there are multiple capable family members working in the business; especially when not all candidates are suitable for the leadership role. Competition among family members can be either positive or [...]
The auto retail industry has experienced dramatic changes and disruptions in recent years, leading to an unprecedented level of volatility and transformation. Profits have reached historic highs, dealerships have been bought and sold at a rapid rate, and a new generation of large dealers is emerging. This period of rapid change has been a [...]
What do the Olsen twins, the Williams sisters, the Warner brothers, and the Wright brothers all have in common? They are all siblings able to succeed in creating a business together. Fundamentally, the success of any partnership, let alone a family business partnership, is ongoing work towards maintaining harmony inside the business relationship by [...]
Whether gifted, bought, or developed from the ground up, business owners put their passion to work to establish a lifestyle and opportunities for their families. Far from the entrepreneur's mind is succession planning because many believe it to be the end; when, in actuality, it provides options to create your vision. Succession planning is [...]
Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies [...]
The value of the business is directly related to the reliability of future profits. Potential buyers, banks, investors, top talent, and strategic relationships all care about the sustainability of business performance. A temporary, or as we call it, a "Contingent Successor," provides a business owner and their family a strategy [...]
Lack of a qualified family member successor is a common reason family business owners decide their only option is to sell their business; otherwise, they would rather keep it as a family asset. However, for owners looking to transition out of daily operations or "bridge" the leadership gap if something [...]
Seasonality, inflation, politics, people, and technology are a few headwinds impacting fuel dealers, wholesalers, and service contractors in the energy space. We are often asked, "How can we create predictable revenues in an industry influenced by so many outside "threats?" In this episode, Doug Woosnam, a Consultant with Cetane Associates, [...]
