Owner Motivation and Perspective

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

2019-11-18T15:01:27-06:00By |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 [...]

Personal vs. Personnel Impact – What Message Are You Communicating?

2019-11-26T13:53:26-06:00By |Categories: Succession Blog|Tags: , |

Apathy, skepticism and disgust are sentiments shared by millions of Americans as a result of the greed and selfishness pervading our society today. For some, it is definitely all about the money even if generating business profits is at the expense of others. Others see money and profitability as a measuring stick of how [...]

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 [...]

5 Succession Misconceptions & How They Impact Business Value – #1 I’m All Taken Care Of

2019-11-26T13:38:36-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception # 1- “I’m All Taken Care Of “I have it all done.” “My estate and exit strategy are in order.” “My attorney and CPA have me covered.” These are beliefs are commonly expressed by many business owners. While there may be confidence and truth behind these statements, what the [...]

As Seen in Multi-Unit Franchisee Report – Determining Value Is More Important Than Operational Efficiency

2019-11-19T07:52:08-06:00By |Categories: Succession Blog|Tags: , , , , , , , , , , , , , , , |

In, "Determining Value Is More Than Operational Efficiency," David Weaver discusses how succession planning builds value via addressing the factors of the Succession Matrix®. Succession planning covers a broad range of subjects which may be broadly categorized by legal, financial, and people. Each of these many facets of succession are intimately woven together, interdependent [...]