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, Tracy wanted to sit around the Thanksgiving table with those she loved and continue to build a successful business.
The succession planning process provided Century Automotive Group a roadmap for effectively integrating the next-generation family in the business while building trust and rapport with key leaders. The family business is not a birthright; it is a beautiful family asset, which requires protecting the family unit and the business to ensure both are nurtured effectively. Listen to hear Tracy Jones share key strategies that have created the roadmap for ongoing family and business success.
For more insight from Tracy Jones, President of Century Automotive Group, check out the episodes:
For more resources on building a strong business and succession planning, visit www.seekingsuccession.com. And leverage our Succession Readiness Survey. A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook impacting business value, growth, lifestyle, and ultimately achieving your vision.
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