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 […]
Celebrating 50 Episodes: Our Core Values with Elizabeth Ledoux & Andrea Carpenter
Episode Description: For the fiftieth episode of this podcast (50 episodes!), Elizabeth Ledoux thought that there was no better way to both celebrate the past and look forward to the future than to invite back to the show her successor, Andrea Carpenter, and discuss their core values. Tap or click the play button below to listen […]
Four Building Blocks of Sustainable Family Business Transitions
The transition of family businesses from Generation 1 to Generation 2 are complex, yet complexity increases exponentially in transitions from Generation 2 to Generation 3 and beyond. In this article we look at (1) the reasons for the complexity and (2) four building blocks of sustainable family business transitions. Families: They’re Complicated! Transitions from Gen. […]
Business Governance: What Do Families in Business Transition Need to Know?
Episode Description: Marcy McNeal, a business transition guide and coach at The Transition Strategists, once again joins host Elizabeth Ledoux for today’s episode. In this episode, Elizabeth and Marcy discuss the importance of business governance in family-owned businesses during transitions. They emphasize that governance provides a structured framework for decision-making, fostering inclusivity and reducing personal […]
How Early Preparation Saved a Family Business
Great title for an article, right? A great topic, too … if only it were possible to know if and how early preparation saved a family business. But there isn’t. There are simply too many unexpected twists and turns, route changes and reboots in every transition journey to know that early preparation is the one […]
The Art of Selling Your Business: Cultural Fit, Employee Well-being, & Long-term Success
Episode Description: In this episode, host Elizabeth Ledoux is joined by Betsy Hoaglund for a discussion about the practical steps Betsy went through to grow her business then transition out of it with a healthy exit strategy. Tap or click the play button below to listen to: The Art of Selling Your Business: Cultural Fit, […]
The Character & Role Shifts in a Transition
Episode Description: In this episode, host Elizabeth Ledoux once again talks with Andrea Carpenter about the intricacies of business succession and the metamorphosis that both owners and successors undergo during a business transition. Tap or click the play button below to listen to: The Character & Role Shifts in a Transition. SCHEDULE A COMPLIMENTARY CONSULTATION They […]
Five Key Steps in Preparing a Family Business For Transition
“If you don’t know where you are going, you’ll end up somewhere else,” so said Yogi Berra, the man The Economist magazine named in 2005 as the “Wisest Fool of the Past 50 Years.” As far as we know, he was not talking about family business transitions, but his words certainly apply. Through long experience […]
