The Art of Succession

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Welcome to The Art of Succession Podcast. Host Barrett Young talks with Colin Sanburg, Founder and CEO of FinElevate and Managing Partner at Abacus Unlimited, about his journey from buying his first business at age 22 to building a portfolio of companies. Colin shares how a turning point early in life sparked his drive toward entrepreneurship and how stepping into a struggling family business led to years of hands-on learning. He explains the lessons he gained in leadership, financial strategy, and business turnaround, and why he later founded FinElevate to help other entrepreneurs build better businesses and gain more freedom.

Colin shares his journey from working in a family business to becoming a business owner and financial leader. He talks about stepping into a struggling company at age 22 and learning the financial side by necessity. Colin explains how mentorship and mastermind groups helped shape his leadership style and business growth. He discusses the difference between buying and starting companies, and why he chose to launch FinElevate to support other entrepreneurs. Colin’s experience shows the importance of an ownership mindset, financial clarity, and building businesses with intention and integrity.

Join Colin Sanburg as he shares lessons from buying, building, and selling businesses. Hear how he turned around a struggling company, the value of financial clarity, and why mastermind groups shaped his path. Learn how Colin now helps other business owners grow with purpose and create more freedom in their lives.

Episode Highlights
[00:00] - Teaser
[02:09] - Introducing Part 2 with Colin Sanburg
[05:38] - Free advice to paid service shift
[07:06] - Defining fractional CFO vs. bookkeeper/CPA
[10:54] - Starting vs. buying a business
[15:55] - Why sell a business?
[17:26] - The myth of passive business income
[23:40] - Lightning round (quick-fire questions)
[30:57] - Future plans & human-focused tech
[34:32] - Launching during COVID
[37:56] - What a fractional CFO does
[39:48] - Starting vs. buying a business
[44:49] - The myth of passive income
[49:34] - Selling the business to the internal team
[52:51] - Lightning round begins
[57:40] - Wanted legacy: integrity
[59:54] - Future plans for FinElevate