Business Transition Roadmap with Elizabeth Ledoux Elizabeth Ledoux

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, and transparency in potential partnerships and succession planning. 

Connect with Elizabeth Ledoux, ​​Andrea Carpenter, and the Transition Strategists:

Website: https://transitionstrategists.com/ 

Facebook: https://www.facebook.com/thetransitionstrategists 

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/ 

Andrea on LinkedIn: https://www.linkedin.com/in/andreashaver 

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/ 

Transition Strategists on YouTube: https://www.youtube.com/@transitionstrategists 

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player: 

Spotify: https://spoti.fi/3MxSYA2 

Apple Podcasts: https://apple.co/3IhMMux 

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv 

Chapters in this episode: 

0:02 Business valuation and potential partnership. 
6:09 Valuing a business for succession planning. 
11:03 Open communication between business owner and successor. 
15:58 Transparency and vulnerability in business partnership. 
21:15 Business negotiation strategies and transition planning. 

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com. 

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 potentially collaborating together in business, their conversation invites listeners like you to ponder your situation and whether you, like Elizabeth, might want to start planning your own business transition or succession.
They also discuss the difficulties and opportunities that people face when planning business succession, plus conducting personality assessments to evaluate the fit—or lack of fit—between two potential business partners.

Connect with Elizabeth Ledoux, ​​Andrea Carpenter, and the Transition Strategists:

Website: https://transitionstrategists.com/

Facebook: https://www.facebook.com/thetransitionstrategists

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Andrea on LinkedIn: https://www.linkedin.com/in/andreashaver

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/

Transition Strategists on YouTube: https://www.youtube.com/@transitionstrategists

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player:

Spotify: https://spoti.fi/3MxSYA2

Apple Podcasts: https://apple.co/3IhMMux

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv

Chapters in this episode:

(0:01) Finding a successor.
(7:18) Finding the right business partner.
(11:57) Personality assessments and business succession planning.
(20:05) Business transition planning.

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.

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 transition can be smooth and can create opportunities for people to learn, share, and grow together.

Download for free the “Family Business Transition Checklist”: http://transitionstrategists.com/44
Read Elizabeth’s article that she wrote for TIGER 21: “Intergenerational Transition of a Family Enterprise: A Checklist”: https://tiger21.com/insights/generational-family-business-transition/
This article runs through a checklist that includes:
Prioritizing healthy relationships.
Clarifying the enterprise’s culture and legacy.
Managing the distinction between family and enterprise relationships.
Establishing respect between and among generations.
Setting a vision for the future.
Acting with gratitude.

Connect with Elizabeth Ledoux and the Transition Strategists:

Website: https://transitionstrategists.com/
Facebook: https://www.facebook.com/thetransitionstrategists
Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/
Transition Strategists on YouTube: https://www.youtube.com/@transitionstrategists

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player:
Spotify: https://spoti.fi/3MxSYA2
Apple Podcasts: https://apple.co/3IhMMux

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.

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 members. With mergers and acquisitions, they explore the need to start the process early so you can prepare financially and gain a clearer understanding of your objectives. Elizabeth and Adams also discuss surrounding yourself with the right advisors and optimizing your company's value and performance.

Connect with Adams Price on LinkedIn: http://www.linkedin.com/in/adamsprice

Connect with Elizabeth Ledoux and the Transition Strategists:

Website: https://transitionstrategists.com/

Facebook: https://www.facebook.com/thetransitionstrategists

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/

Transition Strategists on YouTube: https://www.youtube.com/@transitionstrategists

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player:

Spotify: https://spoti.fi/3MxSYA2

Apple Podcasts: https://apple.co/3IhMMux

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv

Chapters in this episode:

(0:02) Business succession planning for privately held businesses.

(6:15) Preparing businesses for sale or transition.

(12:08) Strategic planning, IP protection, and financial planning.

(18:14) Financial planning for business owners, including tax implications and investment strategies.

(25:20) Preparing businesses for sale, including valuation, performance, and market conditions.

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.

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 explores three strategies business owners can take when planning to exit a business: liquidation; transitioning to an insider; and transitioning to a third party.

As Elizabeth mentions in this episode, you’re invited to go to https://transitionstrategists.com/42 and download our free “How Transaction Guide” that explores many of the topics of this episode.

Connect with Elizabeth Ledoux and the Transition Strategists:

Website: https://transitionstrategists.com/

Facebook: https://www.facebook.com/thetransitionstrategists

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player:

Spotify: https://spoti.fi/3MxSYA2

Apple Podcasts: https://apple.co/3IhMMux

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.

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 tax. They discuss the impending halving of the lifetime exemption in US estate planning and the importance of understanding and utilizing these exemptions to minimize taxes and ensure a smooth transition for businesses and families. They also explore estate planning for business owners, particularly in regards to tax implications and family dynamics.

Connect with Michelle AmRhein on LinkedIn: https://www.linkedin.com/in/k-michelle-amrhein-a1071220/

Coan, Payton and Payne’s website: https://www.cp2law.com/

Connect with Elizabeth Ledoux and the Transition Strategists:

Website: https://transitionstrategists.com/

Facebook: https://www.facebook.com/thetransitionstrategists

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player:

Spotify: https://spoti.fi/3MxSYA2

Apple Podcasts: https://apple.co/3IhMMux

Get Elizabeth Ledoux and Laura Chiesman’s latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.