Business Transition Roadmap with Elizabeth Ledoux

What does it look like to navigate succession from the inside? In this episode, Elizabeth Ledoux sits down with Kayla Kernick, who offers a rare dual perspective as both a family business successor and a Transition Guide with The Transition Strategists.  Kayla shares her personal journey with Spring Creek, her family's business in Canada, where she initially entered organically through a reta...

This is a solo episode featuring Elizabeth Ledoux exploring the critical elements that most business transition plans overlook. Drawing from nearly 30 years of experience helping families navigate succession, Elizabeth reveals why focusing solely on the "how" and "how much" leads to failed transitions, while addressing the "people side" creates lasting success. She breaks down five key areas that...

In this solo episode, Elizabeth Ledoux tackles one of the biggest challenges in business transition: moving from being in complete control to sharing decision-making with your successor. Elizabeth explains that while business owners often get labeled as "control freaks," control is usually rooted in care for others—protecting employees, family members, and the business itself. However, without a p...

Business owners face a critical question: What happens if you're suddenly not there? In this episode of The Business Transition Roadmap, Elizabeth Ledoux guides listeners through becoming a "business empty nester" - preparing your business and successors to thrive without you. Learn why successful business transitions require planning, how to prepare successors for independence, and discover your...

In this solo episode, Elizabeth Ledoux tackles one of the most challenging aspects of business transition: the false choice between legacy and harmony.  Elizabeth defines legacy as what you leave behind - your business, impact, wealth, and the imprint of your effort and values. Harmony, on the other hand, is how you leave it behind - focusing on relationships, emotional well-being, and unity...

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. Elizabeth shares her experience lead...

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.  The hosts emphasize the importance of setting boundaries, communicating effectively, and being intentional about creating a shared vision for...

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 succession strat...

In this episode, Elizabeth explores the importance of creating a sense of urgency in business transitions. She discusses the mindset shifts necessary for a successful succession and shares insights on overcoming common roadblocks like commitment phobia. She also emphasizes the value of envisioning a long-term future and offers strategies for guiding your business and yourself into the next chapter...

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.  In this episode, Elizabeth and Andrew explore the following seven core values: (1) People first. (2) Independently accomplished a...

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 pe...

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. 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...

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.  They explore the roles of the "magician" owner and the "apprentice" successor, emphasizing the importance of curiosity, communication, and strategic planning.  The conversati...

In this episode, the second of a two-part series, host Elizabeth Ledoux and guest Andrea Carpenter discuss the possibility of handing the reins of Elizabeth’s business to Andrea. They explore the challenges and opportunities of navigating this deal, which would involve Andrea becoming her boss’s successor.  On a practical level, this conversation reveals the importance of trust, communication...

In this episode, the first of a two-part series, host Elizabeth Ledoux and guest Andrea Carpenter have a wide-ranging conversation about the possibility of Andrea becoming Elizabeth’s successor at Transition Strategists, Elizabeth’s consultancy that offers transition and business succession planning strategies to families, individuals, and businesses. Elizabeth and Andrea discuss the value of pote...

In this episode, host Elizabeth Ledoux walks us through a checklist of items that are important for members of a family enterprise to consider when embarking on an intergenerational family transition. A business transition for a family can be fraught with issues, conflict, and challenges. Yet, with thoughtful planning, an attitude of gratitude, and Elizabeth’s checklist, your family business trans...

In this episode, host Elizabeth Ledoux is joined by Adams Price, an investment banker and M&A advisor who has led and executed countless transactions in the technology, manufacturing, and supply chain industries. In this episode, Elizabeth and Adams discuss the challenges of transitioning a business, emphasizing the importance of understanding your objectives and desires and those of family me...

Business transition is a journey, not an event. In this episode, host Elizabeth Ledoux explores the benefits of people considering a business transition to start with: “How?” For example: How will the transfer of your business to your successors be structured? Taking a structured approach can minimize disruptions and preserve the integrity and legacy of your business. In this episode, Elizabeth ex...

In this episode, host Elizabeth Ledoux is joined by Michelle AmRhein, an estate and business lawyer who works in estate planning and business succession. In this episode, Elizabeth and Michelle discuss the lifetime exemption, which is also known as the lifetime gift tax exemption and is the total amount of money or assets an individual can give to others over their lifetime without incurring gift...

In this episode, host Elizabeth Ledoux is joined by Danielle Scimeca, a lawyer and entrepreneur who runs one of her family’s businesses, FCT Water Treatment, and is involved with other family businesses. In this episode, Elizabeth and Danielle discuss succession planning and business growth with a family-owned company. They also explore the challenges of succeeding a business owner, including lack...

In this episode, host Elizabeth Ledoux is joined by John A. Warnick, the founder of the Purposeful Planning Institute, a fellow of the American College of Trust & Estate Counsel, and author of the Purposeful Trust & Legacies Handbook. After thirty as a tax and legal advisor to wealthy families, John pivoted to pursue his passion of assisting clients transition their wealth more purposefull...

In this episode, host Elizabeth Ledoux is joined by Nelisha Firestone, who helps people in the financial world stay healthy and whole. A wealth advisor and the founder of Firestone Financial Group, Nelisha works with owners through all stages of their business. Nelisha and Elizabeth delve into the intricacies of financial planning and estate management for business owners. Nelisha shares personal...

In this episode, host Elizabeth Ledoux is joined by Andrea Carpenter, the Director of Programming at The Transition Strategists. In this episode, Elizabeth and Andrea discuss their new Big Six Program, which helps business owners think about their business transition and plan for the future. They explore the six critical questions that every owner must answer when considering a business transition...

In this episode, host Elizabeth Ledoux is joined by Mark Richards, Principal of the Winged Keel Group. Mark shares his insights on legacy preservation and wealth transfer strategies. He also shares his personal experience with succession planning, including the importance of having an advisory board to hold him accountable. Elizabeth and Mark also discuss how life insurance can play a crucial role...

In this episode, host Elizabeth Ledoux is joined by Alina Martin, an investor and advisor who was named one of Canada’s Top 100 female entrepreneurs in 2018. These days she’s building new business ventures, running her family office, and also involved in real estate and consulting. In this episode, Elizabeth and Alina discuss lessons Alina learned after merging two companies, the importance of com...