Communication Is the Lifeblood of Business Transitions
As Transition Strategists, we talk frequently about hats; primarily knowing when to wear them and which one to wear. No, we’re not teaching proper hat etiquette. Instead, we use hats as a metaphor for the roles individuals play in a family and in a family business. Two Hats Owners / parents wear at least two […]
Navigate Family Gatherings with Grace & Purpose
Episode Description: In this episode, Elizabeth Ledoux and Andrea Carpenter explore the intersection of family gatherings and business transitions, offering advice on how to navigate sensitive conversations, maintain family harmony, and ensure a smooth transition process. Tap or click the play button below to listen to Navigate Family Gatherings with Grace & Purpose. SCHEDULE A […]
Families, Family Business, and the Holidays
It may be natural to talk about the family business—whether long before or during a transition—when family members gather for holidays, but is it smart? When families, family business, and the holidays converge, it’s natural and convenient to talk about business because, well, everyone is present in person. Having business-related conversations in person—especially those that […]
The Role Transition Guides Play in Business Transitions
The role Transition Guides play in family business transitions is critical because their experience, insight, and use of a proven transition process greatly increases the odds of transition success. And, as the frequently quoted statistics indicate, success in family business transitions is not guaranteed or easy. Success in family business transitions means different things to […]
Choosing the Right Successor for Your Business with Cody Teets
Episode Description: In this episode, host Elizabeth Ledoux is joined by Cody Teets, a Transition Guide for The Transition Strategists. Cody is a practical, visionary thinker and resourceful Transition Guide to business owners and successors. She brings 25-plus years of experience to each engagement in positioning key stakeholders to succeed in family-business transitions and designing executive […]
Embracing Volatility in Business Transitions
In our article “Creating a Business Transition in a Volatile World,” we focused on two words—volatility and plan—to try to shift a common mindset that causes owners to put off transitioning their companies to successors. Let’s dive deeper into that discussion by focusing on the consequences of a decision to delay due to a fear […]
Creating a Sense of Urgency in Business Transitions with Elizabeth Ledoux
Episode Description: In this episode, Elizabeth explores the importance of creating a sense of urgency in business transitions. She discusses the mindset shifts necessary for a successful succession and shares insights on overcoming common roadblocks like commitment phobia. She also emphasizes the value of envisioning a long-term future and offers strategies for guiding your business […]
Creating a Business Transition Plan in a Volatile World?
We frequently meet business owners who are hesitant to make a plan to transition their businesses to successors—often their adult children—during today’s volatile times. If volatility has put your transition on pause, we’d like to help change your mindset by focusing on just two words: volatility and plan. Volatility According to Merriam-Webster, the word volatile […]
Sustainability in Family Business Transitions
If sustainability in family business transitions means that a company passes to the next generation, and the company continues to do well, then the odds are not great. It’s an unpleasant reminder, yet the most commonly quoted business transition statics are: We believe that there are almost as many causes for this dismal record as […]