Successfully integrating family into the business, whether as an employee, manager, or one-day successor, requires having a plan. Next-Gen business owners may need to invest their entire net-worth back into the business to compete with the larger consolidators. This means being less a caretaker of the business as generations past, [...]
Successfully integrating family into business leadership while balancing family dynamics is full of complexities. As Joe Chastang shares, many private and family business owners screw it up. Thanksgiving and Christmas come around every year, and the business provides for 100+ employees. Mismatched expectations, communication differences, and management styles can create [...]
Hope is at the center of many dealers' business strategies. Hope that if they sell the business, the sale will return the cash they need to retire and support their dream lifestyle. However, many dealers have to show up with checks to pay debt and find a job to help facilitate [...]
Operating a store is hard work, but it is rewarding. A common question we hear is what are the options to keep the dealership(s) as a family asset if no family is interested or capable of filling the shoes as Dealer/Operator. The good news is that the world is your [...]
Many business owners lean on the DIY approach to strategic planning, integrating family into the business, succession planning, and positioning their business for sale on the open market. Where entrepreneurs are sharp in many ways, without outside help, they often suffer from being able to see the trees from the [...]
Welcome to the enlightening Part Three of our deep dive into empowering female leaders as we focus on Ownership and Accountability. In this episode, we continue our exploration of the profound impact we can make when we take ownership of our attitudes and choices. If you've been following our journey, [...]
People are the backbone of any successful business, and business owners across all industries have difficulty finding qualified talent to fill open roles. No longer will people put up with toxic work environments or dead-end jobs; they want more for their future. In this episode, Marty Kirshner, Partner with Gray, [...]
The competitive landscape for automotive retail requires dealers to think even more about competition and growth. Some think they need to get bigger or get out; however, the bigger question is, what will it take to corner your market and fulfill your strategic vision? In Houston, for example, it will [...]
As Joe Chastang shares, getting your company started, running it, and being successful is a good feeling. Seeing your kids step in and do better is a better feeling. In 2015, when Joe embarked on the succession planning journey led by Jeff Faulkner and Jeff Bannon, he reviewed the action [...]
Political and social pressures continue to impact propane and oil business owners. In this episode, Champ Rawls, a succession planner with The Rawls Group, Marty Kirshner, Partner with Gray, Gray & Gray, Doug Woosnam, a Consultant with Cetane Associates, and The Rawls Group's succession planner Clayton Latiolais discuss how to [...]
