Choosing the Right Successor for Your Business with Cody Teets

In this episode, host Elizabeth Ledoux is joined by Cody Teets, a Transition Guide for The Transition Strategists. 

Cody is a practical, visionary thinker and resourceful Transition Guide to business owners and successors. She brings 25-plus years of experience to each engagement in positioning key stakeholders to succeed in family-business transitions and designing executive succession strategies.

In this episode, Elizabeth and Cody explore the essential aspects of business transition planning, highlighting the importance of early preparation, clear communication, and a focus on the human element. Cody shares her insights on the challenges and successes of business transitions, emphasizing the need for courageous conversations and a willingness to let go. 

By addressing potential blind spots and offering practical advice, this episode provides business owners with the tools to navigate the complexities of transition planning and ensure a smooth handover to the next generation.

Learn more about Cody Teets and her work with the Transition Strategists: https://transitionstrategists.com/our-team/cody-teets/

Cody Teets on LinkedIn: https://www.linkedin.com/in/codyteets/ 

Chapters in this episode: 

(03:12) Cody's Passion for Business Transition

(07:22) Unveiling the Common Pitfalls in Business Transition

(11:17) The Physical and Emotional Well-being of the Transitioner

(16:51) The Successor's Journey: Pressure, Performance, and Expectations

(22:15) Leadership Styles and Their Impact on Business Transition

(26:40) The Importance of Open Communication 

(29:21) The Role of Family Dynamics in Business Transition

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.