The Art of Succession

Barrett Young: 00:00

Stepping into the role of business owner is one of the most challenging endeavors you'll ever undertake in life. Buying that business from a dear family member or a close mentor just amplifies the risk of getting this wrong.

Curtis Hardwick: 00:10

In those small little battles you have, you feel like you've lost them, but overall, we've we've moved in the right direction.

Barrett Young: 00:16

According to Harvard Business Review, only 30% of small businesses will survive the transition to the 2nd generation. And of those, only 10% will make it to the 3rd generation.

Jason Blumer: 00:26

I was wrecking some stuff. There were some things I was not doing right, but I did learn a lot through that process.

Barrett Young: 00:32

On the Art of Succession podcast, you'll hear from entrepreneurs who've successfully moved from employee to business owner by acquiring their businesses from a parent, former boss, or a co founder.

Curtis Hardwick: 00:43

For him to stay on, I think I would have blown up the firm if he would have truly just handed over the reigns.

Barrett Young: 00:47

My name is Barrett Young, your host and a fellow traveler in the succession story of a 75 year old CPA firm.

Barrett Young: 00:53

Each interview, I'll invite my guests to reflect on the mindset shifts, the challenges, and the triumphs that have encouraged them to build on these established foundations that they acquired.

Jim Morrow: 01:03

I learned how to build a business. In my head, I was like, I'm gonna do this. I'll do this here or I'll do this on my own somewhere else.

Barrett Young: 01:10

Whether you're just starting out or seeing the need for your own succession plan on the horizon, you'll gain insights and actionable advice from each interview to guide you on your journey.

Jim Morrow: 01:19

I think everything happens for a reason, and luckily, everything was aligned.

Curtis Hardwick: 01:24

I liked the small town, small businesses that we were working with in that time, and all the relationships he had built in this in this area.

Barrett Young: 01:33

Together, we'll discover how to navigate the complex blend of emotions and strategic decisions required to honor the past while charting a new and exciting future.