The Succession Strategies for Founders to Scale Businesses and Let Go of Control with Doug Thorpe cover art

The Succession Strategies for Founders to Scale Businesses and Let Go of Control with Doug Thorpe

The Succession Strategies for Founders to Scale Businesses and Let Go of Control with Doug Thorpe

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 The 30-Question Ownership Readiness Diagnostic. Identify your gaps in finance, leadership, and revenue creation before you take the leap. Get your score, get your plan. (It’s FREE!)👉 https://bit.ly/owner-shipmindset-scoreapp ------------------------------------------------Want to be a guest on our podcast? Apply and share your expertise with our audience at https://www.podmatch.com/member/artofsuccession ------------------------------------------------Welcome to The Art of Succession Podcast. Host Barrett Young talks with Doug Thorpe, President & CEO of HeadwayExec, LLC, about his journey from corporate banking to consulting and coaching. Doug shares how his experiences in the banking world led him to focus on leadership development and succession planning for small businesses. He discusses the importance of business owners evolving through key growth phases and the challenges they face in scaling up. Doug also highlights the significance of empowering leadership teams and preparing businesses for successful exits.Doug shares his journey from corporate banking to entrepreneurship and coaching. He talks about the challenges he faced in scaling businesses and the lessons he learned in leadership development and succession planning. Doug explains how business owners often struggle with transitioning through key growth stages and the importance of letting go of control to scale effectively. He discusses how empowering leadership teams and preparing businesses for successful exits can lead to long-term success. Doug’s experience highlights the value of thoughtful planning and adaptation in business growth.Key Takeaways:Doug’s path from corporate banking to coaching and entrepreneurship.How he learned to navigate business growth stages and the challenges of scaling.Why letting go of control is crucial for business owners to scale effectively.What Doug’s approach to leadership development and succession planning looks like.How he helps business owners prepare for successful exits and future growth.Here are a few quotes from the episode:"Cash is king, and you never have enough cash." - Doug Thorpe"What got you here won’t get you there." - Doug Thorpe"Exponential growth requires letting go of control." - Doug ThorpeJoin Doug Thorpe as he shares valuable insights on navigating business growth, scaling successfully, and the importance of leadership development. Learn how business owners can prepare for a smooth transition and exit while empowering their teams for long-term success.Episode Highlights[00:00] - Teaser[01:48] - Introducing guest Doug Thorpe[02:49] - Stages of business growth: startup to enterprise[07:11] - Doug's journey from banking to entrepreneurship[08:52] - Mother's influence and shift to consulting[11:46] - Coaching vs. consulting and virtual transition[15:04] - Evolution of business coaching demand[18:31] - Cash flow lessons and entrepreneurial mindset[23:25] - 2008 crash and shutting down the business[28:21] - Identity loss and career transition coaching[33:31] - Moving into leadership coaching[35:38] - Succession planning for business owners[37:08] - Leadership delegation challenges[41:08] - Engaging employees in succession talks[44:40] - ETA buyer alignment & investment thesis[50:47] - Personality fit in business acquisition[51:42] - Doug’s own succession plan[53:43] - Lightning round: quickfire questionsFOLLOW THE GUEST:LinkedIn: https://www.linkedin.com/in/dougthorpe/ Website: https://dougthorpe.com/ Podcasts: https://podcasts.dougthorpe.com Twitter: https://twitter.com/dougthorpe_com Facebook: https://facebook.com/headwayexec Instagram: https://instagram.com/dougthorpe_com YELP: https://www.yelp.com/biz/headwayexec-houston-4 YouTube: https://youtube.com/@dougthorpe Buy a Business: https://headwayexec.com FOLLOW THE HOST:LinkedIn: https://www.linkedin.com/in/barrettyoung Company LinkedIn: https://www.linkedin.com/company/gwcpa/ Website: https://gwcpas.com/ Email: bey@gwcpas.com FOLLOW THE PODCAST:Apple Podcast: https://podcasts.apple.com/us/podcast/the-art-of-succession/id1742796896 YouTube: https://youtube.com/@gwcpas Spotify: https://open.spotify.com/show/7uhogBxFKWAAetAbD8TVQR LinkedIn: https://www.linkedin.com/company/art-of-succession-podcast/ Website: https://gwcpas.com/podcast
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