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Business Transition Strategies

The first question that owners typically think about when they begin to look ahead to leaving their companies in a successor’s hands is some variation of How much is my business worth? or How much cash do I want or need when I leave? How much . . . ? is a critically important question, but it stops many owners from making any progress in creating their business transition strategies. The Transition Roadmap Developer™: The Gold Standard of Business Transition Strategies Our proprietary business transition planning process, The Transition Roadmap

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The LoCo Experience By LoCo Think Tank - Successful Small Business Transition with Elizabeth LeDoux, Founder and CEO of The Transition Strategists - Elizabeth Ledoux Podcast Interview LoCO Think Tank

Elizabeth Ledoux Podcast Interview LoCO Think Tank

Curt Bear, host of the podcast The LoCo Experience,* sat down with Elizabeth Ledoux to talk about her journey from engineering student at the Colorado School of Mines to systems designer for medical and dental practices; from petroleum engineer and mom of two to student of human behavior; from founder of an international consultancy to author and now founder and current CEO of The Transition Strategists. Elizabeth Ledoux Podcast Interview LoCO Think Tank – a great listen!   Elizabeth shares some of the insights she’s picked up from her experience

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The Transition Strategists clients - Five communication tips for owners contemplating business transitions

Five Communication Tips for Owners Contemplating Business Transitions

The playwright George Bernard Shaw said, “The single biggest problem in communication is the illusion that it has taken place.” Statistics from family businesses in transition certainly agree. The Family Business Institute cites a 2005 Canadian Federation of Independent Business survey that found that “…while 74% of the senior generation leaders report there is a clearly communicated succession plan, 78% of their successors report there isn’t!” Based on the work my team and I have done with numerous owners to craft transitions for their businesses — many of them multi-generational

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How To Go From Pushy Parent to Inspiring Leader in Your Family Business

How To Go From Pushy Parent to Inspiring Leader in Your Family Business

When addressing the topic of resolving conflict in family businesses, my team and I often discuss the common points of friction between parents and children primarily during the transition from one generation to the next. In this article (How To Go From Pushy Parent to Inspiring Leader in Your Family Business), let’s take a broader view of the parent/child dynamic in family businesses, and I’ll suggest five strategies to move to a new paradigm — that of inspiring leader/inspired successor.  In every family business, there’s, well, a family relationship. The

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An offer to buy your company: Is it an offer you can refuse?

Family Business Transition to the Second Generation

Do you own a business that you’d like your children to run one day but just haven’t put a transition plan in writing? If so, you are not alone. According to a recent survey of 230 family business leaders in Mexico, Canada, and the U.S., you are in the 66% of owners who have not yet created the type of plan necessary to orchestrate a family business transition to the second generation. Business Continuity vs. Succession Plans Many owners tell us that they have business continuity plans in place to

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4 Ways To Prepare Your Child To Become Your Successor

Take Charge of Succession Planning

When working every day to run and build your business, it can be difficult to imagine your business without you and you without your business. Yet at some point, owners do begin to think about whether and how their businesses will continue after they leave and move on to their Next Adventures™. We know that the process of business succession planning raises a ton of questions in owners’ minds, so our job as transition strategists is to help owners take charge of business succession planning and put them on track

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What is succession planning?

What Is Succession Planning?

We’ve written numerous articles for this site and other publications that attempt to answer the question “What is succession planning?” You’ll find the most complete answer, as well as our unique approach to succession planning in our book, It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning. Optimists by nature, we typically tout the many, many benefits of succession planning (a process called “business transition planning”). Today, we make an exception and look at just one aspect of the flip side: the huge financial and relationship price that family

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Private Business Succession Planning

Are you starting to think about retirement but don’t know how to transition your business to a new owner? Don’t let the HBO series Succession scare you: Finding a successor for your private business doesn’t have to be so complicated. At The Transition Strategists, we have been helping business owners successfully pass their private businesses to successors for more than 20 years. We help many owners with business succession planning. Keep reading about private business succession planning to learn more. Starting your Private Business Succession Journey One of the most

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Succession Planning Strategy - The Transition Strategists

Family Business Succession Planning

Are you preparing for the future of your family business? Whether you’re just starting your business or nearing the end of your career, it’s always a good idea to think ahead. Family business succession planning doesn’t have to be overwhelming or intimidating. Trust The Transition Strategists to help take the mystery and strain out of transferring the ownership of your business. Keep reading to learn more. Beginning Family Business Succession Planning You might be surprised to learn that our first principle of successful business transition planning is not as much

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