Build Your Business Backwards: Daniel Feiman on Succession | The Business Leader's Legacy Podcast

Most business owners are stuck on the hamster wheel. They're surviving, but they're not thriving. Daniel Feiman has spent 30 years helping them get off it by starting at the finish line and working backward. Daniel is the Managing Director of Build It Backwards, a consulting and training firm in Redondo Beach, CA that just celebrated its 30th anniversary. He's a Certified Management Consultant, a former commercial banker of almost 20 years, and the author of four books on strategy, succession planning, and leadership. He has worked in 31 countries on four continents. What you'll hear: Why his first business, handmade skateboards, went bust at age 12 The difference between succession planning for your company and transition planning for you What happened when one client grew to two-thirds of his revenue, and the rule he follows now How he rewrote his training programs for virtual delivery when COVID grounded his travel How a self-described late adopter is testing AI carefully, without becoming a slave to it Why finding and training the right people is his biggest growth challenge this year Connect with Daniel: Website: https://www.builditbackwards.com LinkedIn:   / danielfeimanbuilditbackwards1   About Chris: Chris Bruner is the CEO and Founder of Simple AI Solutions, based in El Cajon, CA. He helps small and mid-sized businesses bring in more clients and spend less time on busywork using AI plus human systems. His background is in healthcare and process improvement, with an MBA, an MS in Management, and a Six Sigma Green Belt. About the show: The Business Leader's Legacy Podcast goes behind the scenes with business leaders to uncover their vision, strategies, and the challenges they've faced along the way. Connect with Chris: Website: https://www.simpleaisolutions.org LinkedIn:   / chrisbrunersimpleaisolutions   Podcast on LinkedIn:   / the-business-leaders-legacy-podcast   YouTube:    / @the-business-leaders-legacy   Timestamps: 00:00 Welcome and introduction 00:59 The skateboard business that cost $11 to sell for $10 03:05 Getting clients off the hamster wheel 06:38 Succession planning vs. transition planning 09:09 When one client was two-thirds of the business 10:47 The COVID pivot that saved Build It Backwards 12:09 A late adopter's careful approach to AI 15:36 A fifth book and the search for the right people 19:00 The legacy Daniel wants to leave If this conversation helped you think about where your business is headed, subscribe and share it with a business owner who needs to hear it. #SuccessionPlanning #ExitPlanning #StrategicPlanning #SmallBusinessGrowth