Why is it important to build a legacy business today?

As we kick-off International Women Day (#IWD2021), tomorrow, May 8, 2021, I am so excited to feature dynamic women on my podcast who are changing the landscape for us women in business.  I believe it is so important for us to remember to #choosetochallenge the norms to build great businesses for our families especially for our grandmothers, our mothers, and our girls; as well as, contribute to the economy and build our communities in our respective neck of the woods. Let us build back a better Canada; let us build back our communities during pandemic times and give hope for the future. Let us do this for our children male and female. 

I believe it is important to explore the lens of female entrepreneurs who share with us their stories and deep dive into their business journeys.  I recently had the distinct pleasure of interviewing Sophia Ruffolo, Co-Founder and CEO of Femmebought living in Chicago, USA who has a deep Canadian connection.  Sophia is the Co-Founder and CEO of Femmebought, an organization empowering women to gain economic independence through entrepreneurship. Sophia is an experienced executive with a background in “Big Law”. She has worked in a variety of leadership roles for BMO Financial Group, including Chief Compliance Officer of BMO Private Banking Global. People love working with Sophia because of her endless energy and drive to help women launch businesses on their own terms. 

In this episode we discussed the importance of building a legacy business today; why is it important to think of succession planning from the get-go and all that jazz that make her life so interesting.  There are some fantastic golden nuggets in this episode to help you to start thinking about how to kick-start your legacy business including:

1. It is never too early to think about building your business with a view to retirement; 

2. Think ahead to create your legacy for you and your family; 

3. As a small family business you can grow into becoming an incredible business; 

4. Plan from day one and not just for today; and 

5. Make a solid succession plan today to have a successful business story tomorrow. 

Listen to this epic convo with Sophia Ruffolo, Co-Founder and CEO of Femmebought

Sophia, when thinking about making change in life and business, what are some key tips you have for my listeners? 

  1. You can make change in micro-increments;
  2. Find great mentors to help elevate your business to new levels;
  3. A one percent change every day will yield results over time in life and business; and 
  4. You can persevere as you take in the the storms, in the low times and in the high times.

To continue to the conversation with Sophia you can connect with her on  Linkedin and Instagram @femmebought.  I must say that I thoroughly loved this casual convo and learned alot from Sophia. This is definitely a strategic move for any entrepreneur to think early about succession and building out your legacy business. There are some great gems as mentioned above which will get you thinking about building generational wealth for your family and the importance of succession planning from a very early stage.  Go ahead and listen to the full episode on your audio platform of choice here.

The Canadian Side Hustle Business Podcast with Producer and Host Irenia Roussel,  was designed for you to give you the inspiration and tactical advice you need to succeed in business. There will be no sugar coating on the hard steps.  You will  need to hear this to help you  stay in the long game. Believe me when I say : “you need to have staying power to be successful in business today.”

Every week, we will bring you some key tactical business insights to help you grow and scale your Canadian Side Hustle Business. Feel free to send in a direct message with your feedback or leave a voice message on our anchor channel. Your feedback is important to us because this is how we can make this even more relevant as we build this platform for you!  

Author: Irenia Roussel

Irenia has been a Business Advisor to growth oriented entrepreneurs for the past 15 years. She has significant expertise in international business development and marketing. She enjoys working one on one with clients to build their capacity of as well as connect them to the right resources required at the right time. She is also the host and executive producer of two podcasts geared at existing and aspiring entrepreneurs, namely: The Canadian Side Hustle and Business and @Livewithirenia sharing amazing stories of dynamic individuals along their journeys. Her podcasts provides practical tips for business and career development. Irenia is on a mission to build great global impact projects and podcasts!

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