Business Succession is a Team Sport
Episode Description: If there’s one thing we know about your transition or succession journey, it’s that you can never do it alone. So many business owners try to take on too much of the work on their own, which makes the process much more difficult, if not impossible. In this episode, you’ll find out the […]
An Interview with Elizabeth from The LoCo Experience Podcast
Episode Description: In this episode, you’ll get to hear an interview that your host, Elizabeth Ledoux, did with Curt Bear on The LoCo Experience Podcast. Elizabeth’s story is an essential part of The Business Transition Roadmap, and you’ll get to hear all about her life and journey into the business transition world as well as […]
Intro to The Business Transition Roadmap
Episode Description: It is never too early to be thinking about the next steps for your business. Whether you’re planning to sell or pass on the business to someone else, how do you set your successor, your company, and yourself up for success? In this introductory episode, meet your host, Elizabeth Ledoux, and find out […]
Succession Planning Done Right
The HBO series Succession is a dramatization of the transition of a business from one generation to the next, a morality tale about what can happen when a Generation 1 owner fails to create a coherent plan to pass a business to members of Generation 2. It has been successful with both critics and audiences, […]
4 Steps To a Successful Family Business Transition
We’ve all heard the horror stories about family business transfers that create irreparable damage—parents estranged from children, children at war with siblings, and standoffs that endure for generations. It doesn’t have to be this way! We’ve worked with many families who have moved through business transitions and kept their relationships healthy. While every family is […]
Four Questions to Ask Before Passing a Business to the Next Generation
As a longtime advisor who helps business owners craft plans to put their companies in the hands of successors, I’m often asked questions about how companies can be transitioned to their adult children. Before moving forward, I suggest that there are at least four questions to ask before passing a business to the next generation. […]
Four Ways to Make Your Business Resilient
Resilience is a quality we cultivate in ourselves and try to instill in our businesses because the greatest life or business plan in the world can’t prepare us for every tough challenge or unforeseen situation. Well, the ongoing interruptions in the supply chain, the war in Ukraine, continual mutations in the COVID virus, a tight […]
Cut the Ties of Dependency Between You and Your Business
Owners wear many hats as they grow their businesses: rainmaker, HR manager, CEO, cheerleader, and director of finance, to name a few. Yet if they are still wearing all these hats as they move toward their business transitions and Next Adventures, that’s a problem. If you don’t cut the ties of dependency between you and […]
Fear is not a business transition strategy
I spoke recently with the owner of a successful business whose two sons had been active in the company for the 20 or so years since they graduated from college. She told me that it was time for her to start putting the company into their hands, but just thinking about the process made her […]