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Culture of Leadership: Is Your Business Transition Ready?
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There are countless items that business owners should be evaluating when they are approaching the sale, or even a transition of any kind, of their business! However, there is a key, initial question they should be asking themselves: Is my business transition ready?
On the latest episode of Lessons by the Lake, we welcome Chris Smith, Founder of Campfire Effect, for a deep dive into this very question. Oftentimes, in order for your business to truly be ready for a transition, your business needs to have a culture of leadership that flows throughout it.
We explore what this culture of leadership looks like and how it can be attained!
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:50 - Introducing Chris Smith to the show
4:21 - What is leadership?
10:03 - Chris' backstory and the adversity he faced in his life
15:00 - Growing up in a rodeo family
15:56 - Businesses that are dependent on charismatic leaders
21:51 - What can happen if your transition plan isn't ready to go
25:06 - The four freedoms
29:06 - The regrets associated with selling your business
32:20 - Bob's parents immigrating to America and starting a business
36:12 - How you can get in touch with Chris and Campfire Effect
39:20 - Closing remarks
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