What happens when you outgrow your dream business?

Recording together in LA, Caitlin Creeper and Erika Drolet are sharing some big news: Erika is stepping away from Salty Souls Experience.

In this episode, Erika shares her journey of leaving a business she helped build, from when the idea first started creeping in, to the back and forth that followed, and how she eventually found clarity.

We get into the practical side of a business transition, from having that first difficult conversation with a business partner to navigating valuations and selling a company. But we also explore the much messier emotional side: identity, grief, letting go, and the strange pressure to immediately know what comes next.

We talk about what nobody really tells you about cofounder relationships, the importance of trust and partnership, what to consider before going into business with a friend, and how to embrace change when your personal and professional lives are so intertwined.

And at the heart of it all, one big question: how do you tell the difference between giving up when something gets hard and the bone-deep knowing that it’s simply time to go?

Keywords: Business transition, entrepreneurship, cofounder relationships, business partnerships, selling a company, personal growth, leadership, business valuation, lifestyle business, embracing change, letting go.

Key topics:

• Recognizing when it's time to leave a business
• Navigating uncertainty and finding clarity
• The practicalities of selling a business and determining its value
• Trust, communication, and cofounder relationships
• Going into business with friends
• Identity, grief, and letting go
• Embracing change without knowing what comes next
• Knowing the difference between giving up and moving on

Chapters

00:00 Introduction and overview of Erika's transition

02:03 Erika's role evolution in her business

03:57 Empowering facilitators and team members

06:58 Decision to sell the travel agency

10:55 Valuing a lifestyle service business

15:11 Impact of motherhood and personal growth

19:09 Trust and reliability in partnerships

22:04 Overcoming resistance to change

27:06 Future opportunities and new ventures

30:59 The emotional process of transition

35:49 Advice for entrepreneurs considering exit

39:48 The importance of trust and alignment in partnerships

43:57 Reflections on identity and legacy

48:09 The role of courage in change

53:01 Closing thoughts and encouragement

Song: Green by Macy Todd licensed via Audiio.

Editing and Production: Mateus Gomes

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