Developing strategies for growth is essential to succession, especially in Century Automotive Group’s case, where four kids are interested in the business within the third generation.  As Tracy shares in our discussion, the succession process created a forum to determine:

  • Strategic Plan for the next five years
  • Organizational structure and how to effectively scale
  • Expertise and management styles to best fill open roles
  • Purpose, mission, and vision
  • Strategies to take advantage of changes in the car business

Succession planning is an investment, but as Tracy shares, their business is better because they have developed succession strategies.  It is money well spent, and they have made money by investing in developing and implementing strategies for the future.  In Tracy’s words, “You can’t afford NOT to” especially if you bring children on board or have an older parent or dealer who wants to stay engaged in the business.  Listen in to hear Tracy Jones share her perspective about how through succession planning, you can all get what you want.

How We Help You

Are you struggling with family business succession planning, particularly in developing effective strategies for growth and transition? In the case of Century Automotive Group, navigating succession becomes even more critical, with four third-generation children expressing interest in the business. From establishing a strategic plan for the next five years to defining organizational structures and management styles, succession planning demands meticulous attention to detail. In our insightful discussion, Tracy Jones highlights the transformative power of succession strategies, emphasizing that investment yields substantial returns. As Tracy aptly puts it, “You can’t afford NOT to,” especially when considering the involvement of family members or older stakeholders.

Contact us today, and let us help you navigate the complexities of family business succession planning. Our team can provide valuable insights and resources tailored to your unique situation. Schedule a consultation with us, and in just 30 minutes, gain actionable ideas to propel your business forward into a successful and sustainable future.

Automotive Succession Planning Resources

For more insight from Tracy Jones, President of Century Automotive Group, check out the episodes:

Leverage our Succession Readiness Survey. A 7-minute investment in time will put you in an informed position about opportunities many business owners overlook that impact business value, growth, lifestyle, and ultimately achieving your vision.

The Succession Planning Matrix

Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession

Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.

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We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.