"I loved the early years building my company. But the bigger it got the more of a drain it became. I needed to transition the President reins to someone I could trust and had the skills to keep it going. Cornerstone helped us through the whole transition and I am happier than I have ever been. Oh, and I have perfected my fly fishing."
John G. | Small Business Founder

Transitions:navigating change

I need to walk toward the deep dream of doing something different…
I have enjoyed a very exciting and successful career and have had the opportunity to make more money than I ever thought I would. But I still have some gas in my tank and have been thinking about a transition lately. Sometimes when I look into the mirror I think it is a time to strike out and do something totally different. For years I have dreamed of retiring early and investing my skills and resources into another venture with more of a personal pull. Perhaps it is time. But what would the path of transition look like…?

I need to figure out how to roll other passions into my life…
I have a successful career in one environment, and I want to keep going down that path. But I have these other ideas pulling on me and I can’t figure out where they fit. Certainly they don’t really fit on the “platform” of my current job. Are these just distractions? Am I supposed to start some other business or non-profit? How can I roll them into my life so that it all feels like one integrated whole?

I need to transition the reins of the company to the next generation leader…
I am the second generational leader, and I am working to understand what leadership succession ought to look like as it moves to the third generation. Do I transition the company to my son or do I find a ‘buffer’ leader top hold things together till my son is ready? If my son takes over now, he has little experience but plenty of energy and ambition. If we do it later he might get bored waiting for control of the wheel. By the way, our board structure is quite messy and probably needs to be cleaned up. It seemed like a good idea at the time to have the board made up of family members, but they really don’t contribute much to the business any more, and some of them don’t get along. Sometimes the company gets caught in the crossfire of bad relationships…

I need an exit strategy but I just got in…
I started a business and it’s doing well. But I know that down the road, I’ll need to find a partner or an exit strategy so that this business can thrive. Could be two years, could be ten years. I just know I’m not the guy to drive this thing for another twenty years, even though I have at least that much time left in my career.

I need to transition out of day to day operations…
My business has grown to such a place that we are no longer a mom and pop company. The small cozy business I founded no longer exists. It has been almost 20 years since I launched it and today we find ourselves with hundreds of employees and dozens of locations. I am a great founder but a mediocre CEO (at best), and everyone knows it… including me. I need to move in a new leader in to run the company which will domino a new role for me. I am not sure how to get there from here.