We hear all the "reasons" why multi-unit franchisees do not want to start planning for their "what's next,” which often leaves owner’s way behind the eight ball as it relates to business growth and value. Your multi-unit operation is more valuable and profitable over time. For your business to survive, it is critical to [...]
What Is the Best Way to Approach Training Your Employed Family Members? A family business is an inherently volatile environment due to the combination of the emotion of family with the cold reality of business accountability, creating frustrations on the part of all family members. The keys to effective family management are respect, communication [...]
In, "Leadership in Times of Crisis - the OODA Cylce," Loyd Rawls (Dr. Merlot) explains how and why you are a good leader; why you don’t need to worry; why you can project to those that are depending upon you: “We got this!! This is our time to shine!” He also explains how you [...]
The Evil King vs. the Hand-Cuffed President - who do you want to be? Our experience has demonstrated that the best way to position yourself and your successor is somewhere in the middle. Certainly, no one wants to run a business without the autonomy to make critical operational decisions. Creating a lasting business structure [...]
Business value depends upon many moving parts - earnings, profit, forecast growth and risk. An area many business owner overlook, is the dependence of the operation on their leadership. Selling or transitioning the business to the next generation requires leadership bench strength and the ability for the business to operate [...]
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 [...]
“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. Our very own succession planners Hugh Roberts and Jeff Bannon, along with Howard and Susan Drake of the Casa [...]
It’s easy for Nextgen leaders to get involved and make swift changes. The path to change can appear so clear, but many potholes are lurking in the shadows. Loyd Rawls and Dr. Merlot (Loyd’s alter ego) share a real life story about a Next Gen leader dealing with the balance of evolution versus revolution in [...]
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 [...]
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 [...]
