Time: Your Most Powerful Transition Tool
“I know I need to plan my transition, but there’s always something more urgent to handle.”
I hear this from business owners almost daily. You’re managing daily operations, dealing with employees, keeping customers happy, and trying to grow your business. The thought of planning your eventual transition feels overwhelming – especially when you’re not even sure where to start.
But here’s what I’ve learned: time is your most powerful ally in creating a successful transition.
Put People First in Family Business Transitions
One of our favorite books by Patrick Lencioni is “The Five Dysfunctions of a Team.” (If you haven’t read it, we highly recommend it.) He’s also the author of an article in the Harvard Business Review about corporate values. In this article, Lencioni asks readers if four values — communication, respect, integrity and excellence —resemble […]
Letting Go in Business Transitions
Stepping out of and into business ownership are huge career and life transitions. Owners stepping out have reached a high level of competency and need to transfer the knowledge of what they do and how they do it to their successors. Organizing that transfer is just one reason we include a Transition Timeline™ in the […]
The Power of Peer Learning in Business Transition
Episode Description: Peer learning plays a transformative role in the lives of business transitioners and successors. In this episode, Elizabeth and Andrea discuss how peer learning fosters vulnerability, transparency, and growth during critical transitions. They highlight the importance of creating spaces where individuals can exchange knowledge and gain clarity on complex issues. Tap or click […]
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 […]