Outsource to Profits Podcast
Episode: 143 Handing a business from one generation to the next sounds messy, but it doesn't have to be. This episode breaks down how a son spent 16 years earning the right to lead, what made the transition nearly seamless, and the financial and cultural moves every founder should be making long before succession ever becomes a conversation. ABOUT THE HOST: Jamie Shanks is the founder of Get Levrg and host of Outsource to Profits. Having built and scaled three agencies, Jamie helps business leaders leverage offshore talent, smart systems, and operational structure to grow beyond themselves and build something worth handing off. LinkedIn: https://www.linkedin.com/in/jamestshanks/ [https://www.linkedin.com/in/jamestshanks/] ABOUT THE GUEST: Mike Libbey is a Partner and COO at YBL, a virtual accounting and advisory firm serving growth-focused businesses across Canada. A co-founder of EdgeFlow, a workflow automation platform for financial advisors, Mike joined his father's accounting firm 16 years ago and has spent the last six years quietly running the business before formally taking over, proving that the best successions are built long before they're announced. LinkedIn: https://www.linkedin.com/in/mike-libbey/ [https://www.linkedin.com/in/mike-libbey/] EPISODE SUMMARY: Mike Libbey joins Outsource to Profits to share one of the most quietly successful family business transitions you'll hear. He walks through how 16 years of side-by-side growth, earned trust, and a pick-your-battles philosophy made handing over the keys almost painless. The conversation covers how to handle concerns about nepotism, when to have the uncomfortable succession conversations, and why running your business as if you're about to sell it is always the right move. WHAT YOU'LL WALK AWAY WITH: * Why succession planning should start much earlier than feels necessary * How to earn authority without relying on the family name * The pick-your-battles approach that keeps family businesses functional * What structures and specialists you need before a transition happens * Why rebranding and going virtual changed everything internally and externally * How to future-proof a business when AI is moving faster than your roadmap #FamilyBusiness #BusinessSuccession #VirtualCFO #FounderGrowth #AccountingForFounders #YBL #BusinessTransition #OutsourceToProfits #ScalingWithClarity
100 episodios
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