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Self Improvement

Sell and Stay: A Leadership Posture to Be Reinvented

Selling her business and remaining at the head of her team is the recent accomplishment. While we often hear about glorious growth stories, successful sales stories are becoming rarer. Yet they are all equally impressive Leadership. At the head of the company founded by her father where she has been working for more than 30 years, Danielle tells us how she decided to sell the family business through the advice of a keynote speaker, how she overcame a powerful feeling of guilt to do so, and how she adapts to his new position.

The beginnings

When she begins her career, there is no guarantee that Danielle will take over the business. Independent and ambitious, she felt no interest at first sight in joining the ranks of the family business, which specializes in the manufacture of expanded polystyrene and polypropylene products. She obtained her baccalaureate in administration and management of information systems then, after another professional experience, at the request of her brother, then vice-president and general manager, she acted as an internal consultant and reviewed Polyform’s management processes and systems.

She then joined the company full-time and quickly became a financial controller, then manager of the finance, human resources, and IT departments. Just because you are the kid of a businessperson does not necessarily mean you’ll do things well. You must earn the confidence of the team, have the will, and have a certain talent. Says the business motivational speaker. With these strengths, she naturally headed for the presidency of the company, which then had more than 200 istanbul escort employees.

Seek advice in the right places

Over the years, Danielle invested herself in the strategic plan and questioned herself more and more about the succession plan. Realizing that none of her sons are interested in taking over the business, she looks to other options. It’s when she thinks about the possibility of selling that those emotions take over. I felt that I was leaving my team. After all, they have worked with me for 30 years! And me, during this time, I was starting to think about my exit plan…, she recalls. Who will be the buyer? Danielle has a strong reluctance to sell the business until she is sure in whose hands, she will do it. With the other shareholders, she then foresees several scenarios, because she fears leaving her employees with a foreign company, with distinct values, or to see them get fired. Therefore, represents invaluable support for the businesswoman from the executive coaching.

She recognizes that surrounding herself with entrepreneurs who are also living this stage at the same time has helped her a lot. She was able to talk to them openly about her questions and share their experience in making such important decisions.

A decisive turning point towards an unexpected outcome

March 2020: Pandemic strikes globally. Like many businesses, the shock wave becomes a decisive element in Danielle’s heart. I realized that the group of stockholders no longer had a similar vision, and I no longer had the need to remain in these conditions, with this immensity on my shoulders. It was then that she surrounded herself with a team specializing in mergers and acquisitions to find her successor.

Polyform is bought by Polymos, a Quebec competitor whose founder was a friend of his father. They had even almost started their business together 55 years before! Similar values, good understanding, and immense respect for Polyform’s history… No layoffs were made on the group’s 200 employees! The announcement was received in the best possible way by the employees, who found the decision excellent under the circumstances. The love story of the two companies ended in the best way for all, allowing Danielle to give in without guilt. Polymos and Polyform now form a Quebec polystyrene empire, as the founders Béliveau and Bourbonnais had the vision when they started.

Finding pleasure as an entrepreneur

Pressure, the pace of decision-making, and challenges can drain entrepreneurs. The businesswoman confirms that for her, selling and staying made a lot of sense for her transition and that of the company. Newly Executive Vice President, she enjoys the freedom of being able to let go of certain aspects of her role and participate in those she is passionate about. It is funny to go from choosing all to no longer selecting anything. But I make peace by telling myself that it’s part of the transition. Finally, it’s liberating to be able to concentrate on the projects chosen by the President, and even to put aside what I liked less.

However, at first, Danielle worried about whether she could keep a role that would animate her. “I am a person of action. I like things to move forward, to make decisions. It was important for me to feel useful in my new role. » Today, after 4 months, Danielle continues to manage the change and the transition with the buyer. They meet several times a week to share the knowledge necessary for a successful recovery.

Danielle invites entrepreneurs concerned about this type of decision. To surround themselves with a club of entrepreneurs, as well as experienced consultants. These two elements, which made all the difference, allowed him to write a new chapter of his career.

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