Curious about how to successfully transition a family business while preserving its legacy?

In this episode, Adam chats with Andrea Carpenter, a seasoned expert in family business succession who shares her personal experiences growing up in a family business and the critical role that open communication played in her formation, while exploring how both family business leaders and next-generation members can balance honoring legacy with pursuing their own authentic paths.

Whether you're planning to pass your business to the next generation or contemplating other transition options, Andrea's wisdom about creating authentic spaces for rising generations while honoring family legacy will transform how you think about succession.

Discover why it's never too early to start planning your transition and how to ensure everyone in your family business feels valued in the process.

0:00 Introduction

5:26 Transition Strategists: Helping family businesses

10:15 Open communication about family wealth

20:44 Protecting wealth for future generations

25:14 Joining Transition Strategists as a successor

29:49 Framework for succession planning

34:36 When to start transition planning

38:26 The Next Gen Friend: Supporting the next generation

43:53 Creating resources for next generation leaders

Resources Mentioned:

📚 It's a Journey - Book by Elizabeth Ledoux

🌐 Instagram: https://www.instagram.com/yournextgenfriend/

🌐 LinkedIn: https://www.linkedin.com/in/andreashaver/

🌐 Free Resource! Let's Talk Transition - https://letstalktransition.com/adam

🌐 The Transition Strategists - https://www.transitionstrategists.com/

🌐 Your Next Gen Friend - https://yournextgenfriend.com/

🌐 Tiger 21 - Mentioned as a group Andrea's father is part of - ​​https://tiger21.com/

🌐 GoBundance Women - Mastermind group mentioned https://gobundancewomen.com/

Email: adam.hill@eosworldwide.com

Follow Adam:

IG: @theadamchill

YouTube: @adamchill

LinkedIn: https://www.linkedin.com/in/adamchill

Ever thought about using an Employee Stock Ownership Plan (ESOP) as a way to transition your business?

In this episode, Adam Hill sits down with ESOP expert Kelly Finnell to break down how these plans work, why they’re the best move for some family-owned businesses, and what it really takes to put one in place.

They’ll cover how ESOPs can protect your company’s culture, reward your team, and offer a meaningful path to succession—all while keeping the heart of the business intact.

0:00 Intro

5:37 Kelly's journey as an ESOP pioneer

19:22 Tax benefits and "losers" in ESOP transactions

25:52 Minimum requirements for ESOP candidates

31:43 ESOPs in different industries and cultures

36:32 Governance structures in ESOP companies

40:11 The concept of compassionate capitalism

43:42 How owners can prepare for ESOPs

Resources Mentioned:

The ESOP Coach by Kelly Finnell

EFS ESOP Consultants

Email: adam.hill@eosworldwide.com

Follow Adam:

IG: @theadamchill

YouTube: @adamchill

LinkedIn: https://www.linkedin.com/in/adamchill

Join Adam Hill in exploring the journey of Andrew Cohen as he navigates the ownership transition of Moosylvania, the legendary advertising agency his father started. Andrew candidly shares the challenges of taking the reins, the dynamics of working alongside his father, and how his leadership role has unfolded over time.

Discover how Andrew is embracing creativity in the face of AI advancements (including their innovative brainstorming tool, Collabsurdity!) and gain insights into balancing family ties with business responsibilities and the future of advertising.

0:00 Intro

5:24 Childhood dynamics and parental relationships

16:30 Integrating into the family business

23:53 Ownership transition and gifting challenges

30:32 Finding clarity in family business roles

37:47 Advice for succession planning

40:08 Legacy and vision for Moosylvania's future

45:02 Current state and future of Moosylvania

48:52 Closing thoughts on family business resources

Resources Mentioned:

Moosylvania

Andrew Cohen's LinkedIn profile

Email: adam.hill@eosworldwide.com

Follow Adam:

IG: @theadamchill

YouTube: @adamchill

LinkedIn: https://www.linkedin.com/in/adamchill