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Stepping into the role of business owner is one of the most challenging endeavors you'll undertake. Buying that business from someone you already know amplifies the risk of mistakes. On The Art of Succession Podcast, you'll hear from entrepreneurs who've successfully transitioned from employee to owner by acquiring businesses from parents, former bosses, or co-founders. Together, we'll explore how they navigated the complex blend of emotions and strategic decisions required to honor the past ...
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These Partners Stepped In To Rescue A Buddy's Hearing Aid Store After A Text
52:28
52:28
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In this episode, host Barrett Young interviews Jarom Rogers, a partner at Legacy Hearing Professionals. They discuss Jarom's experience in taking over and revitalizing a struggling business, navigating financial crises, and dealing with underperforming partners. Background and Initial Challenges Jarom describes the early stages when his friend, who…
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This Rapid Growth CPA Firm Has Gone From Dad's Living Room to 30 Employees
1:04:15
1:04:15
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How do you strike the balance between the professional and the family relationships, especially when your employees are watching? How do you set a valuation on a business that you were instrumental in building? And how do you transform a traditional service business, and position it to scale for the next phase? In this episode of The Art of Success…
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Leaving The Family Business Prepared Her To Take Over This Third Generation Auto Recycler
1:10:55
1:10:55
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What are the unique issues faced in acquiring a third-generation business? What challenges arise when an owner doesn’t want to discuss succession? How do you balance the health of the business with family relationship dynamics? In this episode of The Art of Succession podcast, host Barrett Young interviews Amber Kendrick, the owner of Pete's Auto P…
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She Learned Resilience Losing Their Travel Agency, And Now Helps Others
1:05:36
1:05:36
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1:05:36
How can business owners prepare themselves in the good times for an eventual downturn? How do we distinguish between signs that a business is not working, or we’re just one more week of persistence away from breaking through? When our self-identity is challenged, how can we hold onto what’s important in order to make it through to the other side? I…
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Unbeatable Opportunity: How A Text Led These Chiropractors To Business Ownership!
1:03:11
1:03:11
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How do we balance the plans we have for our future and the opportunities that surprise us? How do we shepherd existing clients towards new and better services while also reassuring them we have their best interests in mind? And when we’re in partnership, how do we both shoulder the burden and support each other, while also move towards working in o…
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Working With His Grandfather Was This CPA's Unfair Advantage
1:02:21
1:02:21
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What unique challenges might we face when we buy into a company founded by a grandparent? What can we learn from our predecessor, while also balancing our desire to make start our own? As we start to consider and author our core values, how do we show both continuity and clarity to our existing clients? In this episode of The Art of Succession podc…
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They Overhauled A 20 Year-Old Online Course That Had Zero Recurring Revenue
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How do you assign a purchase price to an established intellectual property? Where do you focus your attention on improvement without downplaying the value of the property you’ve just acquired? How do you market in a way to attract a customer back who may have purchased from your predecessor years before? In this episode of "The Art of Succession" p…
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A Cancer Diagnosis Gave This CPA Firm Clarity On Client Selection
37:45
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How do you keep a family business going in the middle of a health crisis, when the personal takes center stage? How does a new owner make the decision to specialize in a business while also honoring the parent that established those relationships? And how do you learn to trust your own instinct and learn on your own even if it might fail rather tha…
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He Bought Dad's CPA Firm And Built A Powerful Community
54:30
54:30
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What does it take to stay the course as an entrepreneur for the long haul? How do we use both our failures and our successes to grow us as business owners? And how do we keep coming back to the work ahead when the bright and shiny wears off? In this debut episode of The Art of Succession podcast, host Barrett Young interviews Jason Blumer, CEO of B…
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Stepping into the role of business owner is one of the most challenging endeavors you'll undertake. Buying that business from someone you already know amplifies the risk of mistakes. On The Art of Succession Podcast, you'll hear from entrepreneurs who've successfully transitioned from employee to owner by acquiring businesses from parents, former b…
…
continue reading
