It's A Journey: The MUST-HAVE Roadmap to Successful Succession Planning

It's A Journey: The MUST-HAVE Roadmap to Successful Succession Planning

It's A Journey: The MUST-HAVE Roadmap to Successful Succession Planning

It's A Journey: The MUST-HAVE Roadmap to Successful Succession Planning


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For owners of private and family businesses, the transition of the business to successors can be a joyful and inspiring journey that caps a lifetime of hard work and dedication and kicks off an exciting next adventure. Or it can be tumultuous and emotionally complex, and cause conflict and rifts in their most important relationships.

In It's A Journey, authors Elizabeth Ledoux and Laura Chiesman share their Transition Roadmap Developer Process(TM), a relationships-first and principle-based Process that dramatically improves the odds of a successful business transfer. In fact, 100 percent of the owners who have used this Process to choose and mentor capable successors and position their companies for success have gone on to live happy and meaningful lives.

It's A Journey includes multiple tools and worksheets for business owners to use as they think about and organize the many facets of their business succession journeys. Tools include transition timelines, a compass, strategy statement and unique tools to organize owner objectives and track successor development. The authors devote chapters to the six questions owners must answer to set a course for their transition journeys, the benefits of and challenges involved in more formal forms of business governance, and why, when and how to recruit professional advisors to increase the odds of transition success.

The authors also lay out step-by-step actions that owners can take to: 1) Set and meet their emotional and material goals, 2) Communicate compassionately and effectively even in difficult situations, 3) Resolve dilemmas to achieve the outcomes they desire, 4) Maintain and enhance their relationships with the people they value, 5) Mentor and teach successors, and then step away, 6) Assess possible succession strategies, 7) Calculate the financial resources they need and want to live the next chapter of their lives, and 8) Create wins for themselves, their successors, families and customers.

It's A Journey offers owners a completely new perspective on transferring their businesses to successors. It is a privilege to create transition plans for the ongoing success of their companies.

Product Details

ISBN-13: 9781736362303
Publisher: Sky to Sea Publishing LLC
Publication date: 02/02/2021
Pages: 276
Product dimensions: 7.00(w) x 10.00(h) x 0.75(d)

About the Author

Elizabeth Ledoux is the founder of The Transition Strategists, an international boutique consultancy offering transition and succession planning strategies to family and private businesses as well as individuals. She is also a thought leader and sought-after speaker, addressing the topics of business succession planning, navigating transitions for companies and leaders, strategic growth, and the business journey. With a career spanning over 30 years, Elizabeth has compassionately and effectively helped hundreds of business owners navigate the complex family dynamics that come with family business shifts. She believes that whatever you want to achieve in life and in business is possible when the relationships that surround and support you are whole and intact. One hundred percent of the family businesses that Elizabeth has helped are thriving, a track record that crushes the dismal statistics related to the transition of family businesses. Elizabeth is an entrepreneur at heart and has founded several businesses, including BizMultiplier LLC, SofTeach, and ROCG. In 2003 she was named as an owner of a Top 100 Women-Owned Business in Colorado. The Harvard Business School has recognized Elizabeth's work linking the growth and development of the entrepreneur to company success. As a fifth-generation Coloradoan, Elizabeth loves the outdoors. When not on the slopes, she is golfing, fly fishing, or enjoying nature. Elizabeth serves as a Denver Chair for TIGER 21, the premier peer membership organization for high-net-worth wealth creators and preservers She served as the Denver Chair and Calgary Chair of the Women Presidents' Organization. Learn more about Elizabeth's work in developing and implementing successful transition strategies at

Table of Contents

Section I Establish the Rules of the Road

Chapter 1 Successful Business Transition Is a Journey

Chapter 2 The Transition Roadmap Developer Process™: A Different and More Effective Approach to Business Transition

Chapter 3 Put Relationships First: Principle 1

Chapter 4 You Are in Charge of Your Journey: Principle 2

Chapter 5 The Benefits of Communicating Well

Chapter 6 No Transition is Perfect: Principle 3

Chapter 7 It's Your Next Adventure™: Go For It! Principle 4

Chapter 8 Choose Your Destination with Intention: Principle 5

Chapter 9 Step Away From Mutual Dependency: Principle 6

Chapter 10 Your Transition Roadmap Is Indispensable: Principle 7

Survey The Business Owner Transition Confidence Survey™

Section II Set the Points on Your Compass

Chapter 11 Start with the Right Questions

Chapter 12 The Big 6™: The Points on Your Transition Compass™

Chapter 13 The Why: The First of The Big 6 Questions and Your True North

Chapter 14 Use The Objectives Matrix™ to Get What You Want

Chapter 15 The What: What Do You Have to Transfer?

Chapter 16 The Who: Choosing Your Successor

Chapter 17 Deciding What's Fair When Choosing Your Who

Chapter 18 The When: Use It to Preserve Your Relationships, Next Adventure™, Financial Security and Legacy

Chapter 19 The How Much: Your Peace-of-Mind Number

Chapter 20 The How: How Will You Harvest the Value of Your Company?

Chapter 21 It's Time to Talk Turkey

Section III Build Your Transition Roadmap

Chapter 22 Element 1 of The Transition Roadmap: The Transition Compass™

Chapter 23 Element 2 of The Transition Roadmap: The Transition Timeline™

Chapter 24 Element 3 of The Transition Roadmap: The Transition Strategy Statement™

Chapter 25 Element 4 of The Transition Roadmap: The Focused Action Navigator™

Section IV Enjoy The Journey!

Chapter 26 Advisors Put the Odds of a Successful Business Transfer in Your Favor

Chapter 27 Business Governance: The Brakes That Power Company Growth

Chapter 28 The Dance of Successor Development

Chapter 29 Now It's Your Turn


Recommended Resources

Dedication and Acknowledgments

About the Authors


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