Seeking Succession artwork

Seeking Succession

31 episodes - English - Latest episode: about 2 years ago - ★★★★★ - 1 rating

Seeking Succession is a conversation series focused on Advancing Your Business, People, and Legacy. We will cover all things impacting growth, value, and the sustainability of privately held businesses.

To submit a topic for discussion, questions about the podcast, or have questions about your business succession environment, please reach out to [email protected].

ABOUT THE RAWLS GROUP: BUSINESS SUCCESSION PLANNERS

Business ownership by nature is risky; succession planning however creates strategies and structure to put you in control. In an ever world of change – business value, growth, and sustainability all depend upon the freedom of choice when the opportunity arises. The right amount of capital, the right people to lead, and the best business strategies to take action. Flexibility is a luxury. We are ready to go on this journey with you. Give us a call and in 30 minutes we will help you find clarity on your next steps. 407.578.4455. https://seekingsuccession.com/

Music provided by: https://www.bensound.com

Management Business Entrepreneurship
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Episodes

Create Control Over Your Energy Business

March 24, 2022 18:49 - 42 minutes - 58.8 MB

Seasonality, inflation, politics, people, and technology are a few headwinds impacting fuel dealers, wholesalers, and service contractors in the energy space.  We are often asked, “How can we create predictable revenues in an industry influenced by so many outside “threats?” In this episode, Doug Woosnam, a Consultant with Cetane Associates, Clayton  Latiolais, a succession planner with The Rawls Group, Marty Kirshner, Partner with Gray, Gray & Gray, and our very own succession planner Cha...

Uncertain Future: Better to Grow or Cash Out?

March 08, 2022 14:32 - 40 minutes - 55.9 MB

Even though Dealers are making money, the future is unclear; for some, the unknown creates anxiety. As a result, we see business owners considering, more than ever, if it is an excellent time to cash out. Succession planning allows you to choose your best outcome – identifying your strategic objectives to fulfill your vision and provide for your family, not just business goals. For example, suppose you are working to make the business the best it can be by department, person, or structure. ...

It Is Possible to Be Equitable

February 24, 2022 19:32 - 2 minutes - 4.01 MB

Thirty-five years ago, Roland Spongberg started a restaurant company with one El Pollo Loco in Long Beach, CA. Today, WKS Restaurant Company employs 12,000 employees across 375 restaurants in 19 states operating Denny’s, El Pollo Loco, Krispy Kreme, and Wendy’s. From a pure family perspective, with six children, Roland initially thought he would simply divide his estate by six. However, as an owner of a business with the family involved, he realized quickly it was much more...

Didn't Want to Screw It Up

February 24, 2022 16:04 - 42 minutes - 59 MB

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. Mis-matched expectations, communication differences, and management styles can create challenging moments impacting business operations, team dynamics, and family gatherings. As a result of leaning on succes...

Earning Respect in the Family Business

February 15, 2022 14:15 - 10 minutes - 15.5 MB

A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses succeeding and thriving for generations. One of the key ingredients to successful family businesses is a winning culture. Respect and trust go hand. A pers...

Earning Respect in the Family Business

February 15, 2022 14:15 - 10 minutes - 15.5 MB

A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses succeeding and thriving for generations. One of the key ingredients to successful family businesses is a winning culture. Respect and trus...

Strategies Evolve as the Business & Family Evolves

February 07, 2022 13:25 - 4 minutes - 6.2 MB

Roland Spongberg became interested in succession planning after a car dealer friend shared difficulties he was experiencing with his siblings. With no desire to cash out, and a father of six kids, with some working in the business and some not, Roland began thinking about the future and opportunities he wanted to create for his family and business. As our world constantly changes around us, so do family and business. Thirty-five years ago, Roland started WKS Restaurant Company with one El P...

Strategies Evolve as the Business & Family Evolves

February 07, 2022 13:25 - 2 minutes - 4.03 MB

Roland Spongberg became interested in succession planning after a car dealer friend shared difficulties he was experiencing with his siblings. With no desire to cash out, and a father of six kids, with some working in the business and some not, Roland began thinking about the future and opportunities he wanted to create for his family and business. As our world constantly changes around us, so do family and business. Thirty-five years ago, Roland started WKS Restaurant Comp...

4 Strategies to Find Your Path in the Family Business

February 03, 2022 17:17 - 14 minutes - 21.5 MB

It can be easy to get lost in a family business. Not knowing who you are and what you want to from what the family, key leaders, and anyone who has an opinion or stake in your or the business’s future. Constant conflict or shutting down to what you want are common when trying your best to navigate a win-win-win. Sadly, what we forget is we often lose in that scenario. Balancing self, family, and business requires proactive work, otherwise, resentment builds. Family members ...

4 Strategies to Find Your Path in the Family Business

February 03, 2022 17:17 - 14 minutes - 21.5 MB

It can be easy to get lost in a family business. Not knowing who you are and what you want to from what the family, key leaders, and anyone who has an opinion or stake in your or the business’s future. Constant conflict or shutting down to what you want are common when trying your best to navigate a win-win-win. Sadly, what we forget is we often lose in that scenario. Balancing self, family, and business requires proactive work, otherwise, resentment builds. Family members who work in a fam...

You Can Get What You Want

January 26, 2022 21:40 - 10 minutes - 11.1 MB

Developing strategies for growth are 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 adv...

Roadmap to Family & Business Success

January 12, 2022 19:21 - 7 minutes - 7.91 MB

A family business is such a wonderful opportunity.  However, many 2nd, and 3rd generation business owners screw it up.  And as Tracy shared, she and her husband did not want to be the generation to screw it up.  With the third generation entering the business, Tracy and her husband felt like the sandwich generation.  Tracy’s father still plays a role in the business; Tracy and her husband fill key leadership roles as President and GM, and Tracy’s son was ready to come on boa...

Roadmap to Family & Business Success

January 12, 2022 19:21 - 23 minutes - 31.6 MB

A family business is such a wonderful opportunity.  However, many 2nd, and 3rd generation business owners screw it up.  And as Tracy shared, she and her husband did not want to be the generation to screw it up.  With the third generation entering the business, Tracy and her husband felt like the sandwich generation.  Tracy’s father still plays a role in the business; Tracy and her husband fill key leadership roles as President and GM, and Tracy’s son was ready to come on board.  As a family,...

Thriving for Three Generations

December 28, 2021 18:26 - 6 minutes - 7 MB

Century Automotive Group is thriving across three generations. Love and commitment to nurturing family relationships have been vital ingredients for their success. From Tracy’s integration into the business as the second generation, and now the third generation actively working in the business; they live by there is no business gain worth a family loss. The history of Century Automotive Group is unique and, at the same time, similar to so many entrepreneurial-owned businesses. Passion for a...

Thriving for Three Generations

December 28, 2021 18:26 - 6 minutes - 7 MB

Century Automotive Group is thriving across three generations. Love and commitment to nurturing family relationships have been vital ingredients for their success. From Tracy’s integration into the business as the second generation, and now the third generation actively working in the business; they live by there is no business gain worth a family loss. The history of Century Automotive Group is unique and, at the same time, similar to so many entrepreneurial-owned business...

When Is It Time for Me to Give Up Control of My Business?

December 19, 2021 19:15 - 9 minutes - 12.7 MB

Kendall Rawls is filling in for Dr. Merlot to answer questions he has received from family business owners across the country. Before we get started, you may be wondering who is this Dr. Merlot Dude? The Doc is the straight-talking alter ego of Loyd Rawls, who is the founder of The Rawls Group. An alter ego may seem a little silly, but it does provide levity to a topic many people view as heavy.  What is funny though, is succession planning is actually a topic owners need t...

When Is It Time for Me to Give Up Control of My Business?

December 19, 2021 19:15 - 9 minutes - 12.7 MB

Kendall Rawls is filling in for Dr. Merlot to answer questions he has received from family business owners across the country. Before we get started, you may be wondering who is this Dr. Merlot Dude? The Doc is the straight-talking alter ego of Loyd Rawls, who is the founder of The Rawls Group. An alter ego may seem a little silly, but it does provide levity to a topic many people view as heavy.  What is funny though, is succession planning is actually a topic owners need to embrace because...

Four Secrets to Family Business Holiday Success

December 15, 2021 18:42 - 36 minutes - 49.5 MB

When it comes to the season of family, otherwise known as “The Holidays” it is common to experience fear and anxiety. We all want it to be like the best holiday movies, but the reality isn’t a hallmark movie. There is a secret to creating a happy holiday, or season of family. The secret is understanding, embracing, and practicing that the only thing you can control is YOU. Do not get swept up and away in all the other fluff of the season. Watch and learn 4 strategies you can implement immed...

Four Secrets to Family Business Holiday Success

December 15, 2021 18:42 - 36 minutes - 49.5 MB

When it comes to the season of family, otherwise known as “The Holidays” it is common to experience fear and anxiety. We all want it to be like the best holiday movies, but the reality isn’t a hallmark movie. There is a secret to creating a happy holiday, or season of family. The secret is understanding, embracing, and practicing that the only thing you can control is YOU. Do not get swept up and away in all the other fluff of the season. Watch and learn 4 strategies you ca...

Family Business: Avoiding the Hysteria of a Kicked Hornets Nest

November 23, 2021 21:26 - 32 minutes - 44.6 MB

A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s interesting to watch nature in action, which ironically is very similar to families and working in a family business.  Each individual plays roles and a set of standard operating procedures that allow the hive to run smoothly and efficiently.  When done in unison and as expected, the hive buzzes with focus and activity, not bothering anyone outside the pack. These same behaviors exist in the family business. Whe...

Family Business: Avoiding the Hysteria of a Kicked Hornets Nest

November 23, 2021 21:26 - 32 minutes - 44.6 MB

A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s interesting to watch nature in action, which ironically is very similar to families and working in a family business.  Each individual plays roles and a set of standard operating procedures that allow the hive to run smoothly and efficiently.  When done in unison and as expected, the hive buzzes with focus and activity, not bothering anyone outside the pack. These same behaviors exist in the fam...

Growth, Acquisition and Business Succession

November 11, 2021 16:24 - 42 minutes - 58 MB

We are in the business of celebrating succession!  What better way to celebrate succession planning than to talk about growth in the business.  You, as a business owner, are in a power position.  With action, you can create control over your future. Consolidation has been a major theme for some time now.  COVID-19 created an added layer of pressure, enhancing buy-sell activity.  Business owners who have invested in succession planning already have options, know what they want, and are alrea...

Growth, Acquisition and Business Succession

November 11, 2021 16:24 - 42 minutes - 58 MB

We are in the business of celebrating succession!  What better way to celebrate succession planning than to talk about growth in the business.  You, as a business owner, are in a power position.  With action, you can create control over your future. Consolidation has been a major theme for some time now.  COVID-19 created an added layer of pressure, enhancing buy-sell activity.  Business owners who have invested in succession planning already have options, know what they wa...

5 Techniques to Amplify Your Talent Magnet Skills

November 04, 2021 13:08 - 32 minutes - 25.8 MB

The COVID-19 Pandemic has forced us all to think outside of our comfort zone. We all were forced to operate differently from our norm, which results in changing perspectives. Employees’ and customers’ mindsets have changed which means it is essential for leaders and owners to also think differently.  The recruitment and retention of top talent are essential to building business value, sustaining business performance, implementing strategic plans, and consequently, the achievement of your su...

5 Techniques to Amplify Your Talent Magnet Skills

November 04, 2021 13:08 - 32 minutes - 25.8 MB

The COVID-19 Pandemic has forced us all to think outside of our comfort zone. We all were forced to operate differently from our norm, which results in changing perspectives. Employees’ and customers’ mindsets have changed which means it is essential for leaders and owners to also think differently.  The recruitment and retention of top talent are essential to building business value, sustaining business performance, implementing strategic plans, and consequently, the achie...

The Magic That Creates Business Value

November 01, 2021 20:09 - 30 minutes - 41.9 MB

Depending upon one’s perspective, value can take on many different meanings. Banks, IRS, Wall Street, valuation specialists, business owners, vendors, strategic relationships (franchisor/manufacturer) all view value differently. And depending upon one’s reasoning for determining value, one’s approach/view could change such as – buying, selling, transferring stock, etc Champ Rawls a Partner of The Rawls Group and Gina Miller who is a Partner with Bennett Thrasher in their Dispute, Valuation,...

The Magic That Creates Business Value

November 01, 2021 20:09 - 30 minutes - 41.9 MB

Depending upon one’s perspective, value can take on many different meanings. Banks, IRS, Wall Street, valuation specialists, business owners, vendors, strategic relationships (franchisor/manufacturer) all view value differently. And depending upon one’s reasoning for determining value, one’s approach/view could change such as – buying, selling, transferring stock, etc Champ Rawls a Partner of The Rawls Group and Gina Miller who is a Partner with Bennett Thrasher in their Di...

Collective Culture: Cultivating a Harmonious Environment

October 29, 2021 18:38 - 19 minutes - 17.6 MB

Culture is the foundation of what a company is built – it is precious and irreplaceable. It is one thing that you have to be intentional about maintaining through change, which means working harder on it than anything else.  IF, of course, you are looking to build not just a company, but a legacy. Core values act as the guiding principles or “headlights” for the organization as the leadership evaluates decisions in regards to recruitment, strategic planning, and how daily i...

Collective Culture: Cultivating a Harmonious Environment

October 29, 2021 18:38 - 19 minutes - 17.6 MB

Culture is the foundation of what a company is built – it is precious and irreplaceable. It is one thing that you have to be intentional about maintaining through change, which means working harder on it than anything else.  IF, of course, you are looking to build not just a company, but a legacy. Core values act as the guiding principles or “headlights” for the organization as the leadership evaluates decisions in regards to recruitment, strategic planning, and how daily interactions are h...

Where Are All of the Leaders

October 27, 2021 07:10 - 1 hour - 7.4 MB

Jeff Bannon a Partner of The Rawls Group and Aicha Bascaro, President of American Franchise Academy discuss leadership – keys for developing people, attracting top talent, and creating opportunities within your franchise organization for growth. Many franchisees dream of going from owning one unit to becoming multi-unit business owners and building generational wealth.  However; growth is challenged by a worker shortage. Topics discussed in this podcast episode include: Primary challenges...

Where Are All of the Leaders

October 27, 2021 07:10 - 1 hour - 7.4 MB

Jeff Bannon a Partner of The Rawls Group and Aicha Bascaro, President of American Franchise Academy discuss leadership – keys for developing people, attracting top talent, and creating opportunities within your franchise organization for growth. Many franchisees dream of going from owning one unit to becoming multi-unit business owners and building generational wealth.  However; growth is challenged by a worker shortage. Topics discussed in this podcast episode include: P...