Business Transition Roadmap with Elizabeth Ledoux Elizabeth Ledoux

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 of clarity and communication. Danielle also opens up about the challenges of transitioning a business, including the emotional toll on the shareholders and the need for vulnerability and open communication.

Thank you to Danielle Scimeca for being on the show.

Connect with Danielle Scimeca on LinkedIn: https://www.linkedin.com/in/danielle-scimeca-esq-519604279/

FCT Water’s website: https://fctwater.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.

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 purposefully. With the Purposeful Planning Institute, John works with clients and their advisors to ensure that the impact of their planning will positively impact future generations.



In this episode, Elizabeth and John discuss John’s passion for purposeful planning and business transition strategies. They also explore transitioning a business with a cabinet of advisors, transitioning a business with a founder who wants to maintain involvement, why we shouldn’t view a business transition as strictly a financial event, and much more.



Connect with John A. Warnick on LinkedIn: https://www.linkedin.com/in/john-john-a-warnick-7044503b/



Learn more about John’s work with the Purposeful Planning Institute: https://purposefulplanninginstitute.com/john-a-warnick/



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 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 anecdotes, stressing the importance of establishing trust and relationships with financial advisors early on. She also emphasizes the need for business owners to diversify their wealth beyond their primary business to mitigate over-reliance on a single income source. The conversation also explores building a team for business succession and retirement planning, emphasizing the role of successors for smooth business transitions.



Connect with Nelisha Firestone on LinkedIn: https://www.linkedin.com/in/nelisha-firestone/

Learn more about the Firestone Financial Group: https://www.firestonefingroup.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.

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:



WHY? —Why do you want to transition your business?

WHAT? — What do you have and want to transition?

WHO? — Who will succeed you in ownership?

WHEN? — When will the transition begin and end?

HOW? — How will the transfer be structured?

HOW MUCH? — How much do you need for your ownership interest?



They also discuss proven tools that deliver successful results for owners, families, and businesses going through a business transition.



Learn more about the Big 6 Program featured in this episode: https://transitionstrategists.com/big6/



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



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 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 legacy preservation for ultra-affluent individuals and business owners. They also discuss the challenge of selecting a trustee for a multigenerational trust, as it requires identifying someone who can make decisions that align with the grantor's intent while also maintaining strong relationships with beneficiaries.



Connect with Mark Richards on LinkedIn: https://www.linkedin.com/in/mark-richards-6472639/



Learn more about the Winged Keel Group: https://www.wingedkeel.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.

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 committing to decisions and not flip-flopping, watching the sign-posts for when it’s the right time to sell your business, and the need for planning what you’re going to do after you sell your business.



Alina Martin on LinkedIn: https://www.linkedin.com/in/alinamartin/



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.