Legacy on the Line
- Ross Paterson
- Jun 11
- 2 min read
Selling a business is Easy.
Hard is letting the company's leaders buy you out.
Hard is passing this legacy to your family.
We're seeing the growing popularity of Private Equity Buyouts and EBITDA multiples in headlines across the SMB world. But what if cashing out isn’t the legacy you dream about? Maybe you want to create a life-changing opportunity for the people who helped build your business. Or maybe your deepest desire is to pass it onto your children, who have grown alongside every stage of your leadership.
If your most intense dream is to see your purpose (Big Why) protected in a legacy that impacts future generations and the communities you serve, we want to support you.
This transition is complicated for both the founder(s) and successor(s) and tests important relationships to the near limit. Some dangerous habits we see are:
The founder who can't let go - They struggle to separate their identity from the business. Their personalities created the culture.
The next-gen successor who isn’t ready - Shielded from first-hand ownership experience and lacking (or having too much) confidence.
The "Proverbial Baton" gets dropped - Oftentimes during a complex transition that stalls, successors lose faith and jump at secure opportunities.
Everyone gets a piece - Founders want to give everyone ownership at the risk of high-potential leaders losing patience.
No one wants the weight - Ownership is a heavy burden. Founders in their 70s - 80s who don't have a successor in mind don't realize the full range of transition options.
Succession is messy. That's why we've developed the Generational Baton Handoffs series, where we will help founders explore how to find their next Big Why, and give successors permission to grow the business. Check out the kickoff video below!
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