#32 Season 3, Episode 5: Business Leader Mindset and the Impact of Wrong Choices

This episode of the 'Business Owner Transition' continues Mike's discussion with TD Smyers of the "No Clichés" podcast and owner of aboldleader.com. They explore the necessity of great leadership in both thriving and struggling businesses and discuss how problems arise when a leader suitable for a turnaround situation is in charge of a successful business and vice versa. The discussion focuses on implementing changes in flourishing and failing companies. They underscore the importance of bringing in an external coach to guide the leadership transition, highlighting the potential adverse consequences of getting it wrong.

01:00 The Consequences of Hiring the Wrong Leader and understanding the Concept of Mission Mismatch

03:20 The Impact of Wrong Leadership on a Thriving Company

06:51 The Role of Ownership in Leadership Decisions

15:36 The Impact of Leadership Mindset Mismatch on Business

17:17 The Importance of Seeking Help in Business Transition

20:10 Conclusion: The Role of Elite Exit in Business Transition