Podcast Episode 024: Guest Chrissy Myers – Ownership transitions


In this episode of the Business Broken to Smokin’ Podcast:
Lodestone True North’s Head Coach Mark Whitmore and our guest Chrissy Myers, 3rd Generation owner and CEO of AUI https://auiinfo.com/, talk about the business ownership transition from her parents, and the beauty and difficulty of owning a family business. You should get a lot out of this episode!

0:00 Intro
2:08 A little background info on AUI (Associated Underwriters Insurance) https://auiinfo.com/
8:30 Parents instilled in her time management and clear expectations…
11:42 Differences in family business and ownership
14:15 Complexity of family owned businesses
28:50 Different types of convos in business transitions
30:43 There’s a lesson for family business management in the British Monarchy…
39:49 Do you really want it and do you really love it…
43:11 Some take-aways so far: You need some good people, you can’t do this on your own. The type of folks that are smart, capable, courageous, and bring some clarity.
47:32 Taking the parable of the talents and turning it into a business parable
49:32 Differentiating the owner from the operator. Outside this dotted line are owners with certain roles. Inside the circle are the operators. Pay people for their role. Owners make their money with the profits.
55:05 Family business can be like another really needy kid in the family…
1:08:07 Chrissy talks about her upcoming book
1:08:55 Definition of presenteeism
1:12:25 “She Builds” https://rebuildingtogether.org/she-builds
1:16:52 Business owners have a mantle…
1:20:00 Advice from Chrissy…
1:25:01 Taking time for thinking, taking inventory… take some time to think, process, organize, get it on paper…

Music – I will not be broken, Bonnie Raitt




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Mark Whitmore

Mark Whitmore

Mark Whitmore is the Head Coach and founder of Lodestone True North, a dynamic firm of experienced business coaches who help entrepreneurs and managers get to their Land of Awesome.

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