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, Employee Well-being, & Long-term Success.
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Elizabeth and Betsy discuss finding the cultural fit between the buyer and the business, prioritizing employee well-being, taking a long-term perspective, and embracing new opportunities.
Thank you to Betsy for being on the show.
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Chapters in this episode:
6:30 Selling a privately-owned business after 10 years of growth.
14:06 Leadership, decision-making, and succession planning in a business.
18:32 Buying a business and due diligence.
24:30 Selling a business and finding a new identity.
29:58 Business transition and ownership with a focus on preparation, employees, and documentation.
This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.
The Art of Selling Your Business: Cultural Fit, Employee Well-being, & Long-term Success Transcript
Betsy: If you’re ex, if you’re selling your business, we thought a lot about price, course, but we also thought a lot about our employees, who were very they were very important to us, and we didn’t. We didn’t want to sell for top dollar at the expense of losing employees or having or putting them in a bad situation. So when we were looking at our potential buyer list, there were private equity groups and there were strategics. We rolled out most of the private equities because we felt like That situation wasn’t good for our ongoing for the ongoing nature of the business and the employees. And we work very hard at the strategics, because, as we all know, it’s it’s in the same industry, but culture can really change from Company A to B to C to B.
Elizabeth Ledoux: Welcome to the Business Transition Roadmap. My name is Elizabeth Ledoux, and through my years, I have seen how communities thrive when business succession and transition are done well. Me and my team at the transition strategists have been helping business owners develop and implement transition strategies for over 30 years, and on this show, we want to help you by giving you the roadmap to a healthy business transition. Let’s get started. Welcome back to the Business Transition Roadmap. I am really thrilled today to be here with one of my dear, dear friends, Betsy hoakland. I met Betsy many, many years ago. She came in as one of my members in my woman president’s organization group, and she just has been, you know, just somebody that I connected with immediately and been a great friend for so many years. So Betsy, thanks for being here. Absolutely.
Betsy: I’m thrilled to be here and hope I can come up with some insightful bits of wisdom. I appreciate you asking me
Elizabeth Ledoux: nice. So I thought what we would do is start out with a little bit of background, and you can tell a little bit about you and your story with the business right back years ago.
Betsy: All right. Well, I have had a varied career, so to speak. I have a mechanical engineering undergraduate degree from Vanderbilt, and then I worked as an engineer for about four years. Went back to business school and got my master’s in business with a focus on finance, and I spent about 12 years as an investment banker, and meanwhile, I had met my husband at Vanderbilt, Roger, and he will play a part of this business story. We went to college together. He majored in math and physics, which is crazy to me, but that’s what he majored and he had a career in the telecom industry. So he started with MCI when it was small, and then went to quest, which was a telecom in Denver. So we went from Nashville through some other US cities, and ended up in Denver in 98 I was still in investment banking. Roger was at Quest, and we reached a point where we decided that we would like to own our own business. We had had a great corporate ride, and so we bought a construction business in 2006 and the business maintained, built, maintained, and I guess really built and maintained cable and fiber optic networks, or big companies like Comcast, Verizon. We also did some work for municipalities like the city of Fort Collins, and Comcast was our major customer. So that’s the era that he and I bought it together, ran it together for we thought about we thought we’d own it for about 10 years. It was an existing business. When we bought it, we had 80 employees. We ended up selling it after seven years, and we had doubled the revenue, and we were up to about 120 employees. So we managed to do that together, and we didn’t kill each other, and we get divorced, and we sold a business, and we had a good, good exit. So that’s it in a nutshell. I guess that’s great.
Elizabeth Ledoux: That’s great. So, um, but just to finish that story, out your next adventure. So you left that business, sold it, and then your next adventure became what?
Betsy: So we saw the business that was about 10 years ago, and our business, it would help if I explain we had three locations, one in Denver, one Fort Collins, and one up in the mountains, in a small town outside of bail. And the way our business function is you have to have a building with. Some office space, some warehouse space, but then you have to have a lot of outside storage, and it’s usually industrial zoned real estate with outside storage, which is a little unusual. So Roger and I ended up buying two buildings. We were leasing them to start off with, and we’re looking at our PNL, we’re like, payroll is our biggest expense. Our second biggest expense was rent. So in that seven years, we end the business. We end up buying two of the locations. So we set up LLCs held the real estate over here. The business was in another LLC. The Business paid rent to the LLC, market rate. Long story short, when we sold the business, the buyer, the business, didn’t want the real estate. They said, We’ll give you a long term contract. We want to keep, keep the company there. And so we’re landlords now. We own, we still own those two properties. We bought and developed a property in gypsum, and then rented that to our old business and then ended up selling it. And now we’re developing some the exact same type of property in North Carolina. We have a personal connection back to North Carolina and bought an 11 acre parcel and are developing that into a business park. So that’s been the last 10 years, and it’s provided us with some income, and it’s provided us with flexibility. We could live anywhere we can do it with a phone and a computer. And so we moved from Denver to Steamboat Springs, and just really enjoyed a lot more freedom, I guess. And it’s not exactly a nine to five job, so that’s nice.
Elizabeth Ledoux: That is nice. And, you know, I just thought it would be great for our listeners to kind of understand you really didn’t completely leave business actively. You still have some active properties. You’re still doing things, but you just shifted your real focus, and your strategy worked for you. It was a great strategy.
Betsy: Yeah, I we would have sold the real estate honestly, if the buyer had wanted it. And so that was kind of a, what would you call it? A happy circumstance that came out, and our old company continued to grow, and so the opportunity came up to build that building up in gypsum, and then their business model changed a little bit, and so we sold that. But now that we we feel like industrial real estate isn’t really a like a glamorous, sexy industry, you know, it’s not like a house that you can buy and remodel and sell. It’s, you know, it’s where trucks go and it’s where manufacturing happens. But it’s a real need, and we see it in a lot of resort communities. It’s, it’s kind of a tight nobody wants to see that type of real estate really, in a city, it’s typically kind of shunned it off to the side, and we just found a little niche, and it’s worked well for us.
Elizabeth Ledoux: That’s awesome. That’s awesome. So, so I thought we’d, you know, go back. You’re in this business. You bought it, you’re building, growing, you’re nearing this opportunity to sell. What was your What was that like, and what happened that you decided to sell? How’d you do that?
Betsy: Yeah, that’s that’s an interesting question. We we had thought we known it for 10 years, and when we bought the business, we immediately went into there was a bit of a recession in 2007 and we had a working line of credit put in place. Thank God. We had a terrific banker at Key Bank, a woman named Yolanda Russell, so I have to give her a shout out. She not only helped us buy the business, but put that financing in place, and we needed that to grow. And really what happened over the seven years is we bring our business up a notch and things, things like, we struggle get it to a plateau where it’s like, Okay, we got our working capital under control, we got our cash flow under control, we got whatever under control. Then we do something else crazy. It’s like, oh, we need better software. So then, you know, be craziness, plateau out. So we had gone through a couple of those phases that were hard but rewarding. And I was running all the accounting, risk management, which is like the safety program, insurance, hiring, firing, all that HR, plus all the billing and if we were buying equipment. And I, honestly, I honestly, I was just starting to get a little burned out, and we had always run the business with the idea of because Roger and I came from the corporate world. So in our process of looking for businesses, we met a lot of business owners who kind of capped out because. Was they couldn’t let go of certain things with their business. So, I mean, and this is a little bit of an exaggeration, but I you know, I remember one guy said, Well, my wife does all the billing, and she does it at home on our kitchen table, and I’ve just stopped growing because I can’t imagine having an employee actually doing my bill, my billing, which I understand that, but that wasn’t what we wanted to do. So we had start. We had always had the mindset of, we’re going to be a privately owned business, but we’re going to run this like a fortune 500 company. We want it to be professional. We want documentation in place. I mean, everything you would kind of think about. We didn’t want to have any shortcuts. So I was starting to get burned out, and we thought maybe we should hire more of a CFO. So that thought was starting to go through our mind. And then we were looking at the books and the numbers, and it’s like, gosh, we’ve kind of maybe gotten to like, a valuation number that we thought would be good for us. And my history was investment banking, so I had contacts back there into that arena, and I called a good buddy, and I said, Can you take a look at us and tell me what you think? And he came back with a number and a plan, and we said, we that’s going to work for us. So we went. That’s when we started down the path
Elizabeth Ledoux: that is so cool. Yeah, it’s great. I mean, a couple of things, when you had the business because of the way that you ran it, you had it prepared for sale, right, all the way along which, and the other thing is that you were, you understood kind of what you were looking for out of it, what the number would be in general, like you had some concept,
Betsy: yeah, 100% I mean. And again, I think it worked well with my background and Roger’s background. So Roger had been through several acquisitions when he was an mcin at Quest, not necessarily on the banking side, he had to deal with the integration after the purchase was made. So he had lived that struggle of who’s buying who, and who wins in this acquisition, who. You know, how does the integration work? So you so it’s successful, and what happens to the employees, right? And then on my side, and Rogers, he’s a pretty numbers oriented guy too. But you know, we knew how to do I knew how to do valuations. We knew how to do that. What do you add? Back to EBITDA, and we didn’t do any, I call it monkey business, but we didn’t have, you know, my mom on the payroll. We paid market rates for rent. You know, we just made everything above board, so that when you presented numbers and when we were managing the company, everything was, was kind of done properly. I guess in my mind, we didn’t take very high salaries. But, you know, we think our money isn’t moving on, kind of think what else we did. I mean, we just, we knew, I guess, from I knew completely, working with clients what a due diligence document list was going to look like. And so we just, we kept accounting properly. We kept, you know, we just, we really set ourselves up for that. It’s really the only way. And also, we had a great council. We had Brownstein. I don’t know if you know anybody over there, but Jeff connects is I had worked with him in my prior life, and so we were set up as an LLC. Our accounting firm is great. Who we worked with, Sarah Knight was our accountant. You know, out making you Sarah, so I guess, yeah, I guess everything we did was was just at the mindset, we’re going to set this up like a fortune 500 company. Maybe we’re important as the owners, but we don’t need to do everything, and we’ll carve out a role for ourselves, but we’re going to delegate things off so that a buyer can see that and come in and feel confident about what they’re getting. Yeah,
Elizabeth Ledoux: yeah. And it is, I mean, just going back, it is hard sometimes, when you’re an owner, founder, to build, grow and let go of things and shift and change things so that you know, really you it’s easy for us to hold on to things because it’s safe and we like it, and we know how it works. And so to come in with the opportunity to just build, build the business from where you bought it up, and have that perspective in the beginning, that’s wonderful, that’s wonderful. And then also, just again, the opportunity to know what you wanted and know what you were looking for and have a strategy. Because, you know, that’s my my big thought is always that this is a journey you from whatever point you’re at right now, there’s a journey to transition somewhere, because you’re going to end up going out vertically your horizon. Not only one way or the other. So what’s that look like?
Elizabeth Ledoux: Yeah, some people stay until they’re no longer on the planet. And you know that also, yeah, it’s helpful to have a strategy then too. For those who are left, yeah, it doesn’t mean you can’t do it, or you’re hurting anybody. It’s just a choice that you make and hopefully leave everybody whole. But um, anyway, when you look back over that time, um, what do you think? What? What did not go well, what would you say? Gosh, we should have, or could have, or we really weren’t prepared for what could have gone better.
Betsy: Well, let’s see couple things. Like, I had never managed people when we bought the business, when you’re an investment banker and even when I was an engineer, the work is very project and team oriented. So you’re participating, you’re you’re working with a lot of people, but, you know, terms of managing people, hiring them, giving them raises, correcting their course, training and all that, zero experience doing that. So that was a bit of a learning curve for me, but I, you know, eventually got there well enough, I guess I’ll know, but I think hand in hand with that one thing I had to learn, and that really helped me as we went through the when we owned it was one day I realized the decisions I make about who to hire or fire, or this, that or the other, it all has to be for the Best of the business. So there might be an employee that I really like, or maybe, in the case of a founder, or people with family members, I might love my nephew that works there, but if he’s doing something to damage the business, then the business can’t go forward in a healthy manner. And other employees are going to know that, and the customers are going to and it it all. It doesn’t work well. So everybody’s there, everybody that’s there at work, needs to be doing what they’re doing to make the business healthy, to provide the service to the customers. And once I figured that out, it made decision making so much easier for me. And I, I can’t even describe it, was like, oh, oh, I get, you know, you can, you know, you take the emotion out of it, and there’s the logic,
Elizabeth Ledoux: yeah, yeah. And I think that so many people that are owners and leaders, there is the aspect of caring for someone and giving them the opportunity, and giving them a chance and giving them, you know, I guess giving them, yeah, just that opportunity to build and grow themselves personally, but that also requires transparency, vulnerability, clear communication, so that they can have great opportunities to know what they’re doing right, what they’re not doing right, and when the time is right, just let them move on to a different role, where they might be happy and healthy as well, because most of the time when that’s going on both sides are not happy or healthy,
Betsy: right? Yeah, yeah,
Elizabeth Ledoux: yeah. So in a way, you were a successor. What? What that story reminded me of is that when you bought the business, you were the successor, coming in, right with all of navigating and yeah, what was it like to be the successor? What? What condition was the business in? And what could have been better for you in that? Just to give some people an idea of some things they might work on when they’re thinking about selling to somebody.
Betsy: We We did a good, thorough due diligence, but the seller so it was an asset purchase, and we did a very thorough due diligence, but the seller hit a few things, and we ended up going to court with him over these things, and it worked out fine for us, but just for other people to know, this was one that our attorney is a pretty experienced guy said, you know, I’ve never seen that the assets we bought were not the assets that were used to generate the revenue stream that was presented. Wow. So the seller had this company in Colorado, and he had another subsidiary, another company in California, and he had newer equipment in Colorado and older equipment in California, and he switched them. So we got older equipment, yeah, we got equipment that wasn’t up to date with this registration, so like license tags on trailers and trucks that happened. So we had a cellar note, which protected us to some extent, on that because once we figured that out, guess what we did? We did all took all the legal steps. And said, we’re not paying you back on the seller note, because blah, blah, blah, blah, blah. So we withheld those funds, put it over in a separate account, and ended up sorting it out in the mediation court. So that was that was a good thing to have good insurance policy. The other thing that was really interesting, and I think we knew this going in, but the the company we we bought it. They had, like zero it, literally, the billing was done. I’m trying to what’s the old spreadsheet software before Excel? Remember the name of Lotus? Was done on lotus, one, two, in 2006
Elizabeth Ledoux: Wow. Wow.
Betsy: Yeah, yes. So the billing was done on lettuce, 123, and then, like, those invoices literally were printed out and then sent to the seller’s accountant, and he put it all into an accounting system. So we had no systems really to look at, because the accounting, that accounting system come with the business. So, you know, I don’t know that’s that was the rough stuff we had. What we did do is with any business, I think, yes, we bought the assets, but the people that run the equipment and had the interface with the customers. That was one thing we knew we bought, was the owner had nothing to do with the revenue stream. It actually had to do with the employees, and that was something we were looking for with our with our with the company we bought. So we quickly put into place retention bonuses, I guess for the top people. I think there were maybe five or six folks, and we just said, Hey, give us a chance. Give us six months, or whatever it was. And we tried to be very honest and, you know, authentic with them, and got ourselves out in the field, and really tried to understand what the business was all about and how things work. And just started making improvements. And there was some disruption, for sure, but we kept the people we wanted to keep and the people we lost. It was okay. So it worked out all right.
Elizabeth Ledoux: That’s nice, yeah, and yeah, just that ability to go in. And I think it’s great to hear kind of that successor side of this and the purchase side. I remember, I think I remember when I met you, you had looked at quite a few businesses before you actually selected this one. How long were you looking curious?
Betsy: I think about, I want to say, three years. Yeah, and Roger had left quest and I had left somewhere before we had enough of a nest egg to look. Maybe I started looking before, but anyway, I had a lot of connections, obviously, for my job. So we looked for about three years. And the thing I remember is we looked, probably looked at 100 companies, and got serious about 10, with about 10 of them probably got, I think we put offer sheets in front of three of them and bought one. Yeah? So it was, like a big funnel, yeah,
Elizabeth Ledoux: yeah, yeah. And a big process, time consuming, thought, like very thoughtful process. And every single step of the way, just for our listeners, I’m assuming every single step of the way you learn more, right? You hung in even harder on what you wanted and what you were looking for.
Betsy: Yeah, I think we did what we what we started off with was we, we put down on paper characteristics we’d like to see. So like, employee size, revenue, how much we could finance, like, the size of company we could buy valuation wise, and then we put other like, more intangibles, like, Where does revenue come from? So an example on that, we looked at a really cool company that did Environmental Engineering. They did, like, water studies and rivers and things like that. And it was a great company. Had a lot of employees, but the owner was like this, nationally, World, world, known expert in this field, and that’s that kept the phone ringing a lot, you know. So that wasn’t a really good fit for us. The other thing we looked at was kind of like a competitive, a competitive place within the industry. So construction, for example, could a guy with a pickup truck and two helpers come in and compete against us immediately? Or could the business be outsourced to India or, you know, some outsourced somewhere. So, so we started with that and then wrote it up. So it was like a reasonably read, clear email, and I would just send that around to everybody I knew that was an investor or somebody like you, or lawyers, just everybody I knew. And I’d say, Hey, we’re still looking. Here’s what our criteria is, just to remind you and blah, blah, blah. We just keep beating the bushes, honestly, is what we did. Just try to stay in front of people. And we actually found our business. Roger was playing golf with somebody, and that’s how we
Elizabeth Ledoux: isn’t that right? Yeah, there you go. Where you least expect it, right? After all that work, yeah, we expect it. But yeah, yeah. I think knowing what you want and doing that work up front and actually taking some steps and putting together that list helped you to actually see the opportunity. You know, yeah, actually see, see it. And otherwise, I know a lot of people would have just, you know, glossed right over it and said, Oh, you know, you’re just a guy I’m playing golf with and owns a business. Good to meet you,
Betsy: right? Good to meet you. But, yeah, Roger, could articulate it, you know, it’s like, Hey, what are you doing? Well, not doing much. My wife and I are looking to buy business. Oh, really, what kind of business you looking to buy? So there you go. When? There
Elizabeth Ledoux: you go, yeah, well, gosh, so, so as you’re looking at today, happy enjoying steamboat, enjoying just being and what’s your future look like for you, because you still have some assets that are sitting there. So yeah, what’s that future look like?
Betsy: Well, what’s what’s interesting with the assets is there has been a huge uptick in interest in the types of property win. And if you just Google private equity iOS, it’s going to explode. We get a call probably once a month, when it was really hot last year, once every other month these private equity groups wanting to buy our property, especially the one in Denver, because it’s three acres, it’s very it’s a good size three acres of land and then a good sized building on it. So we’ve we thought about selling, but our, our old company is still in it. Funny enough, the CFO, the company that bought us, just bought a place in Steamboat. He’s a great guy. We love him. We love him during, you know, with the integration, Roger worked at Sage for a couple years, and I was there for six months. And he’s just a great guy. We love the company that bought us. So we like ski. Ski with them all winter, and he was just out here. We did some stuff. So anyway, I digress. So we’re still, we’re still messing around with with the property. The North Carolina property is still under development. We’re looking at something steamboat. I’m having a good time hiking and rafting rivers too, you know? And it was a great ski season, yeah. The thing I like about the real estate is is project oriented, so we can get involved or, you know, we cannot. I think, I think I like having my freedom. I like not having to show up at seven or 730 every day and work in 10 hours. That’s really, really nice to have that so you
Elizabeth Ledoux: don’t have you have to use all that experience to manage people and do that that you learned. So now
Betsy: I’m happy to share, happy to share with folks, but yeah, I don’t want to do it,
Elizabeth Ledoux: yeah. And you know, I think that you know, just for our listeners, that this is a terrific story of someone who went for their dreams of owning a business, came in, did the hard work, was able to grow and build it, prepare it for sale, which is part of the journey to get ready, know what you want and what you wanted, and then really live A great next adventure, because so many owners are afraid, you know, what if I don’t have my business and what if I don’t hang on to it? And it’s part of that letting go, but, yeah, you’re just a great success story all the way around.
Betsy: Well, you’re you’re nice. There were some bumps in the road. And listen, I get it about letting go. I was ready to let go, but I worked, like I said, for six months after we sold. And I remember right after that, probably for a year or two, I would meet people, and they would say, like, who are you? And instead of saying, Well, my answer was always, you know, I own a business, and here’s what I do, and I didn’t have that anymore. The first time somebody asked me that I didn’t know what to say, I was like, ah, like, who am I? I mean, I didn’t so, yeah, what do I? Who am I? So I’ve learned to answer that question a lot better. And I was 50 when we sold the business, and always feel bad I’m not working anymore, and I got comfortable with that. So, you know now I just say, well, I own and develop industrial real estate. Here you go. And that’s me and apply fish, and I do this and I do that. So it’s more about what I do than who I own or what I own. I don’t know, I didn’t say that very well, but you know what I
Elizabeth Ledoux: mean, I do, I do. Yeah, I do. And, yeah. Just the ability to go through that shift also, because that’s kind of we’re doing a new workshop called metamorphosis, and there’s a metamorphosis that happens in coming in as a successor to being the owner, but there’s also a big metamorphosis that goes on from being an owner to being what we’re calling beyond an owner, right? Because you’re beyond the ownership of the business, but you’re still active, doing things in your next adventure, and there’s a little metamorphosis that happens there.
Betsy: Yeah, I would love to talk more about that, because I’m still changing. And I, you know, I had goals for, like, from 50 to 60. I was like, here’s what I want to do personally, and, you know, with the property. And then I turned 60 last year, and I’m like, What do I want the next five to 10 years to look like? Where do I want to focus my energies? And it’s, it’s a fun discovery process, if you let it be, it really is, you know, you’ve got time and energy, or I’ve got time and energy to dig into some stuff, and if I don’t like it, okay. I mean, you know, always thought I’d learn French, and then I’m like, Yeah, I don’t think I want to learn French anymore. Move on to something else, and I can do that. Yeah, I would love
Elizabeth Ledoux: to hear more about that. Oh, good. All right, well, we can talk about that. I’d love to talk about that fun program so, so let’s it’s time for us to wrap up. I’m always surprised at how fast our time goes together. And I like to end typically with one question for you is kind of what one thing would you leave with our business owners and listeners that you think would be helpful for them as they’re on this journey to transition and beyond.
Betsy: Okay, I think I think three things, one is get prepared for it. And I mean that like in a clean out your closets, get your documentation right, get your company. It’s just, it’s not like selling a house. But that’s the, you know, that’s the analogy you can use. Just get it cleaned up. Make sure your numbers are good, everything’s in proper order. That would be number one, or the first thing, the second thing is, I think even before that, I touched on this before do things that’s the best for the business. So if there’s an employee or a situation that just isn’t right, go ahead and address it now, because the buyers gonna see it and they’re gonna know it. And I just think it’s better to take care of things ahead of time. And I think the third thing I thought about, thought about this a lot. I think when you’re when if your ex, if you’re selling your business, we thought a lot about price, of course, but we also thought a lot about our employees, who were very they were very important to us, and we didn’t. We didn’t want to sell for top dollar at at the expense of losing employees or having or putting them in a bad situation. So when we were looking at our potential buyer list, there was private equity groups and there were strategics. We rolled out most of the private equities because we felt like That situation wasn’t good for our ongoing for the ongoing nature of the business and the employees. And we look very hard at the strategics, because, as we all know, it’s it’s in the same industry. But culture can really change from company, A to B to C, D, and the company we ended up selling to, we felt like was a great cultural match. We we like how they ran their business. They were pretty, very solid, upstanding people that ran it, and they left our company. They had made a lot of acquisitions over time, and so we could see their track record, and they left each subsidiary as its own operating subsidiary. So our old business, you still see the trucks driving around with the logo that we had when we owned it. It’s not the new company. And so that was about a soft a landing as we could provide for them. The accounting group had to go from privately held to publicly traded. They probably had the most stress of all, but that that’s what was important to us, and maybe that those are the points I want to pass along to somebody that’s maybe getting ready to go down that path
Elizabeth Ledoux: that’s amazing. And I would like to add one thing to that, that even if you’re not going to a third party, you’re still transitioning to a successor who’s going to come in, and so leaving the company in order, and having all of the documentation and. Anything in place, even if it’s an internal transition, I think is just as important, because the learning curve is so high, and if the company’s running smoothly and things are in place, it’s so much easier and provides so much more opportunity for success. So either way,
Betsy: yeah, yeah, I think too with that is, it also sends a message to your employees and your staff. It’s like, this is, you know, things need to be chip shaped. We need to run it properly and keep proper records and have procedures and processes and all that it, yeah. I think it translates into a better, better work environment. Spreads that message, yeah,
Elizabeth Ledoux: yeah. Well, gosh, Betsy, thank you so so so much for being here today and for sharing openly all of your journey with us. And yeah, I just you know I appreciate you. And yeah, thank you.
Betsy: Sounds great. See you later. Bye bye,
Elizabeth Ledoux: bye bye.
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The Business Transition Roadmap with Elizabeth Ledoux
How do communities thrive? When businesses experience healthy growth and transition. Join CEO of The Transition Strategists, Elizabeth Ledoux as she and her guests identify what makes a successful business transition roadmap. If you know you want to transition or exit your business “one day”, today is the right day to start planning. This show will give you the roadmap.
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