Going Through Multiple Transitions In Business with Jennifer Tibbetts
Episode Description: In this episode, Elizabeth is joined by a friend and previous client, Jennifer Tibbetts, who is the former owner of Power Equipment Specialists. She and Elizabeth have worked together on two different business transitions, purchasing a business from Jennifer’s father, and transitioning the business to her own successor. Tap or click the play […]
Family Constitutions Keep Families Together
If you run an enterprise alone or with only one partner, no committees or obstacles prevent you from making decisions or changing direction on the fly. The same is likely true if you operate an enterprise with your adult children because they grew up listening to and watching you. They understand your values and vision, […]
The 5 Qualities You Should Look For In a Successor
Episode Description: When a successor comes into the picture for a business transition, people are always questioning whether they will succeed. Will they have the skills? Will they have the knowledge? While those things are important, they are skills that can be learned with time. The real question of whether a successor will thrive lies […]
How the power of inclusive thinking works in succession planning
As a successful entrepreneur, it’s natural for you to solve some problems by thinking outside of the box. That ability to put disparate elements together, often in ways others would not, is known as inclusive thinking. Too many owners, however, look at the transition of their companies to successors from only one perspective. The purpose […]
Eight reasons owners decide to embark on the succession planning journey
At some point, you, like every owner, will think about the day you will transition the leadership of your company to a new owner. Today, transitioning may be a low-priority issue on your long-to-do list, or you may be frozen in place because you don’t know how to begin or worry that a transition could […]
Understanding Equality and Fairness in Business Transitions
Episode Description: Trying to make things equal and fair is a tricky road to navigate when transitioning your business. As the owner, you may have a completely different perspective from the rest of the people in your business, so perception is key when you start a transition to ensure you keep up your relationships with […]
Business Succession Advisors
One of my favorite proverbs is: If you want to go fast, go alone. If you want to go far, go together. I believe this to be true in many aspects of life but especially in business transitions. First, every transition involves at least two people: the owner who is leaving and the one who […]
Getting Stuck on the “Who” in Business Succession
Episode Description: When it’s time to start the journey of succession, many owners get stuck on choosing their successor. They want to choose the right person, who will not only thrive in the business, but grow and expand it and carry it forward. This podcast episode, “Getting Stuck on the “Who” in Business Succession”, discusses […]
6 Owner Qualities to Improve the Odds of a Successful Transition
Episode Description: As a business owner, the skills that you build during the beginning of your business are all about growing and developing the company you have created. When you then start a transition and pass on the business, the way you use those skills will need to change to fit a new role: the […]