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Occupation relative to family business: Family Business Member, Family Business Advisor

Area of Expertise: Behavioral Science, Finance, Management, Other

With what family business organizations are you affiliated (e.g., FFI, FBN, IFERA, FERC, CAFE, IFB)?: International Succession Planning Association

Please share a little about yourself and your business.: I am passionate about business succession planning and the positive impact it has made on my clients' lives inside and outside of the business. Dedicated to this field since 1973, I serve on the Board of the ISPA and am the CEO of The Rawls Group.

The Rawls Group (TRG) services focus on enhancing family harmony, successor preparation, exit strategy facilitation, key manager retention, executive coaching, & strategic planning. For more information visit www.seekingsuccession.com.

The International Succession Planning Association (ISPA) is dedicated to providing cutting edge planning and facilitation resources to business owners, financial advisors, business consultants, attorneys, accountants, bankers, vendors, professional and industrial associations, and manufacturers. For information about the ISPA visit www.ISPAssociation.org.

Loyd Rawls's Blog

Family Business Issues: Letter to a Successor – Empowering Key Management

Some clients appreciate what I offer more than others. In many cases this occurs when a very social child follows a task master parent into the CEO position of a business without appropriate experience, effective accountability, mentoring or coaching.

In the absence of working for another business, successors lack the understanding or empathy of an employee. If a successor has never been a common law employee, it is very difficult for them to effectively lead or manage employees.…

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Posted on November 9, 2011 at 10:00am

Dreamwork to Teamwork

Organizational productivity is dependent upon teamwork, which I describe as two or more people working together productively for a common goal. Team can be expressed or implied, conscious or unconscious but irrespective, organizational productivity depends upon the effectiveness of interdependent, collaborative effort. Teamwork can be fair, good or great, but teamwork cannot be bad because the contingency of teamwork is enhanced productivity. The English language does not give us a word that…

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Posted on September 7, 2011 at 10:00am

Control Freaks and Associated Curses

A thorough succession plan addresses the organizational and family issues that can impact the continued success of the business through the next generation of owners and managers. A control freak at the helm significantly complicates two components of the Succession Matrixsm: successor identification and development and management teamwork and synergy. Notably, the control freak represents a barrier to the development of successors and supporting managers who have the confidence and competence… Continue

Posted on August 17, 2011 at 10:00am

Business Succession and Long Term Planning

Personal financial planning is a critical component of business succession planning. The general subject of personal financial planning is broken down into four components: wealth development and financial independence, estate planning, credit continuity and exit strategy. Within the topic of wealth development and financial independence is sufficient personal income to facilitate independence from the continued success of the business. The presumption is that if you are dependent upon the…