92. "Intergenerational Entrepreneurship" with Julie Noonan

Dawn talks with Julie Noonan, Founder & CEO of Julie Noonan Consulting, LLC which offers Executive Coaching, Strategic Change Management, and Team Effectiveness services. Julie is also an Executive & Transition Coach, Change Strategist, and Speaker helping mid to late-career executive leaders successfully RIDE the waves of change. Dawn and Julie talk about Intergenerational Entrepreneurship or building a legacy business that you can pass on. 

In this episode…

Who is Julie and whom does she serve? (0:46).   

How are you helping people transition especially if they own businesses when these are going to be real needs to add value? (1:35)

I have actually seen where women will just close the business when the husband retires rather than like you said sell it or leave it to the next generation do you think that is because they don't see value in what they've built or they don't think it's you know worth marketing and selling? (4:41)

I wonder if some of this transition resistance is the fact that things are very different the way that we do marketing and sales today that they think it doesn't necessarily transition the same way exactly  (6:10). 

I wonder if that's because like you were saying there's kind of this personal attachment to it where men might think of it as just business. Women will maybe attach their identities to it in a different way (8:22).

From your experience and perspectives do you see that the trust is maybe a little easier for passing it along if it's a family member or somebody who's maybe worked closely in the business? (10:38) 

What are Important things that we need to be thinking about if we are thinking about an exit strategy in the future? (11:36)

How do we get someone to be comfortable enough to be open-minded to find a successor or someone in the next generation to take the business forward? (14:52)

From your perspective, what is the length of time that you normally want people to think about transition and maybe consider transitioning before they have had all of their needs met and they could pass the torch? (18:22)

What could be some internal clues that we should be aware of that hey maybe it's time for us to find a successor or figure out what's next? (20:57)

I wonder if that's maybe one of the reasons that people don't tell us they get to the point w