The SmallBizChat Podcast: How to Take Over a Family Business with Karla Trotman

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In this episode, Melinda Emerson welcomes Karla Trotman to discuss her journey with Electrosoft and the transition into the family business. Karla shares insights on leadership changes, building an advisory board, and overcoming skepticism. The conversation delves into family dynamics, succession planning, and financial strategies essential for sustaining a family business. Karla also discusses her book “Dark, Dirty, and Dangerous” and its impact on fostering representation and mentorship in manufacturing.

Karla Trotman is the President and CEO of Electro Soft, Incorporated (ESI), an electronics manufacturing and engineering firm in the U.S. She graduated with a B.S. in Business Logistics from Penn State and an MBA from Drexel University. Her career has spanned roles in supply chain logistics, purchasing, and e-commerce at notable companies such as Honeywell, Gap, and IKEA. She is also the author the new book, Dark, Dirty and Dangerous, Building a Vibrant Future of Manufacturing. For more information www.KarlaTrotman.com

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This week on SmallBizChat Podcast:

Creating an advisory board and establishing personal banking and legal relationships are essential steps for effectively transitioning family business leadership.
Involving an organizational psychologist can help smooth internal transitions and address cultural and operational challenges within a multi-generational family business.
Building generational wealth starts with foundational steps like establishing clear wills, life insurance policies, and utilizing business benefits for family members, ensuring financial stability and growth for future generations.