Successor Preparation

Successor Development: 5 Key Indicators for Evaluating a Successor

2024-03-21T10:39:29-05:00By |Distribution & Logistics, Succession Blog|

Developing Successors for Seamless Transitions in Family Businesses Succession planning in family businesses requires the cultivation of successors possessing essential traits. These qualities include: Character: Upholding integrity and a strong work ethic. Confidence: Demonstrating self-assurance and trust in relationships. Capability: Possessing innate leadership qualities and people skills. Competence: Exhibiting proven [...]

Unmasking the Silent Threat: Defend Your Family Business from the Entitlement Virus!

2024-03-15T13:14:09-05:00By |Agriculture, Succession Blog|

In the intricate world of family business succession planning, a stealthy and dangerous virus could quietly sabotage your success: entitlement. This pervasive issue often lurks unnoticed, impacting your business in ways you might not even realize. Understanding Entitlement Let's demystify entitlement. It's when individuals believe they deserve special treatment, setting them [...]

Next-Gen Strategies for Family Business Success

2024-04-02T17:37:30-05:00By |Energy, Succession Blog|

Rising Stars: Crafting Your Path in Propane & Renewable Energy As the proud next-generation family member of a successful business owner, you've likely encountered the age-old struggle of finding your identity and creating your path amidst your parents' towering achievements. Consider the sentiment shared by the daughter of a propane business owner: "My father [...]

The Roadmap to Success in the Fuel Industry: Strategies Beyond Hope

2024-03-15T17:26:46-05:00By |Energy, Succession Blog|

Succession Planning in the Fuel Sector In the dynamic realm of the fuel sector, aspiring for a stable retirement and a secure financial future demands more than mere optimism. Many dealers harbor dreams of liquidating their enterprises to fund their retirement, while others scout for resilient investment avenues amid economic flux. The allure of [...]

The Guide to Balancing Family Bonds and Business Growth in Propane Enterprises

2023-10-05T19:31:33-05:00By |Energy, Succession Blog|

For family propane businesses, balancing nurturing familial bonds and preparing the next generation for leadership roles can be daunting. Leaving family integration into the business to chance is a recipe for failure, as it can strain your family relationships and the success of your business. Just as you put effort into sustaining and growing [...]

Preparing Your Successor

2024-03-14T17:57:59-05:00By |Automotive, Succession Blog|

Leading with Resilience, Winning Against Tough Competitors, and Overcoming Adversity With over 50 years of family business succession planning experience, we fully understand the challenges of balancing the family or the business when dealing with family members in your company. However, regardless of your approach to grooming your child as a successor owner, the [...]

Navigating Franchisee Succession Challenges: Expert Insights & Strategies

2024-03-15T15:36:10-05:00By |Advisor Collaboration, Multi-Unit Franchise Ownership Strategies, Multi-Unit Franchising, Succession Blog, Video|

Join us for a candid and insightful conversation featuring Jeff Bannon and Greg Sisa, seasoned succession planners from The Rawls Group, and Nate Riordan, the visionary founder of West Coast Franchise Law. In this discussion, they address a critical issue faced by countless franchisees: finding a qualified next-generation successor. Facing [...]

Preparing Your Franchise Business for the Future: Tips from Advisors

2024-03-15T11:05:22-05:00By |Multi-Unit Franchising, Succession Blog|

Establishing a franchise business necessitates a clear set of objectives and a vision of what you want to achieve. This will not only help you remain focused and motivated but also direct your judgments and actions, allowing you to capitalize on every opportunity. Nonetheless, having a contingency plan for the future is just as [...]

Preparing for the Future as a Multi-Unit Franchisee

2023-04-19T09:35:18-05:00By |Advisor Collaboration, Franchisee Succession: How to Grow & Build Value, Multi-Unit Franchising, Succession Blog, Video|

As a multi-unit franchisee, you've invested a significant amount of time and money into your business, and naturally, you want to maintain control over it. However, as an entrepreneur or business owner, you must consider the future of your company and determine if you want to sell it, keep it, [...]

Paving the Way for a Smooth Succession in Family Businesses

2023-04-03T11:19:26-05:00By |Construction, Succession Blog|

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 [...]

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