Every business needs succession planning at some point, but not every business leader has a plan in place when that time comes. Thanks to a new series of partnerships announced today by the MRAA, however, marine dealers have a new Succession Planning Toolkit to help them prepare.
Business succession planning is the process of creating a plan to help your business continue to thrive and grow for future generations. When it is done completely your dealership creates processes, systems and a leadership and management approach that provide both stability and growth, while offering both owners and employees confidence in the long-term prosperity of the business as it is handed off from one owner or one generation to the next.
The Rawls Group: Business Succession Planners, The Stanek Group at Morgan Stanley and Spader Business Management have joined together with MRAA to offer you an ever-growing line-up of education, tools and resources you can use to navigate this process. Our goal is to give you confidence in making these key decisions, increase the success of your dealership now and moving forward, and help you plan for the future you dream about, whether succession is just around the corner or you’re at the very beginning of your ownership journey.
We call what we’re creating for you the Succession Planning Toolkit. It includes:
- 7 Things Every Dealer Needs to Know about Succession Planning, a digital publication available to all dealers to help you understand the what, when and why behind succession planning, available for download at MRAA.com/Succession.
- 11 Steps to Success and Succession, a digital publication available exclusively to MRAA Members on the 10 key factors of The Succession Matrix®, available for download at MRAA.com/Scorecard.
- MRAA’s Succession Planning Scorecard & Report, a 15-minute self-assessment dealers can take at MRAA.com/Scorecard to gain an understanding of how far they’ve come in each of the 10 key factors of The Succession Matrix®. Not only will they immediately receive a score, but MRAA will use the results to prepare a custom report for each dealer, providing guidance on tools, resources and education that can help them with next steps on their succession planning journey.
- Second Opinion Service, a free MRAA Member Benefit offered by The Stanek Group at Morgan Stanley to help dealers analyze their personal and business wealth to bring them closer to their most meaningful financial goals. Learn more here.
Each of the key partners in this initiative has unique expertise and offerings to help dealers like you find success and prepare for succession. Through MRAA’s Succession Planning Toolkit, we bring it all together, help you understand what it means for you, your family and your business, and introduce you to the right partners and solutions when you need them.
Get started on your succession planning journey using the resources above, and stay tuned for further announcements about the Succession Planning Toolkit as more resources are added.
About the Marine Retailers Association of the Americas
At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, contact us at 763-315-8043.
