At Teamshares, we believe that strong leadership is essential to the success of small businesses—especially during times of transition. We’re building a network of 10,000 employee-owned small businesses, and over the six years we’ve bought 95+ businesses across 42 industries and 33 states.
Along the way, we place new presidents to lead these companies into their next chapter.
These small business leaders play a critical role in sustaining and growing the business to become employee-owned. Today, this leadership role is more important—and more complex—than ever before.
The evolving role of small business leaders
Every business transition is difficult. That challenge is magnified when a retiring founder or owner-operator hands over the reins to someone new—often someone from outside the company. The retiring owner has often held every job title in the business, and they know every detail of how it operates.
How can you replace that kind of knowledge and experience?
At Teamshares, we help businesses make this transition as smoothly as possible by placing new presidents who can lead with empathy, clarity, and business acumen. These presidents don’t just take over the day-to-day responsibilities of the former owner. They shift the focus from founder-led operations to long-term, employee-owned growth.
Creating that kind of ownership culture takes time, but it’s a critical piece of making the business successful for decades to come. It requires small business leaders to collaborate closely with employee owners, support a culture of transparency, and explain the “why” behind decisions.
Generalist leaders versus industry leaders
There’s no one-size-fits-all background for leading a small business. We’ve learned that firsthand by buying more than 100 companies across 42 industries.
In some industries, like restaurants or retail, deep industry knowledge can often be a key ingredient for success. In others, small business leaders with strong financial skills, grit, and great people management instincts can thrive more easily, even if they’ve never worked in that industry before.
We’ve seen both approaches work, and our approach to hiring great small business leaders is continually evolving. But the big takeaway is clear: success comes from great leadership, not just background or a relevant resume.
What Teamshares looks for in small business leaders
The most effective small business leaders in our network share a few key traits:
- Financial acumen and the ability to make data-informed decisions
- People management and team-building skills
- A growth mindset and willingness to learn
- Character, humility, and a commitment to shared success
Our small business presidents come from a range of backgrounds: military service, management consulting, retail operations, MBA programs, and more. What matters most is not where they came from—it’s how they show up.
When you’re leading a small business, empathetic leadership is mission critical.
We’re looking for leaders who believe in the power of employee ownership and want to help others build generational wealth through their work.
How small business leaders facilitate employee ownership
Our model begins with a transition: from a retiring owner to a new president. Roughly 30-60 days after the new president begins, the retiring owner transitions out. The bulk of the first year is often focused on earning trust, learning the business, and laying the groundwork for shared ownership.
That means listening closely to tenured team members, learning the rhythms and realities of the business, and creating space for employees to share their perspective. It also means making hard decisions to help drive results—even when they’re difficult or unfamiliar.
The most successful small business leaders in our network treat employee ownership as a two-way relationship. They use a collaborative leadership approach to help their teams understand how ownership works, explain the financials, and share the “why” behind strategic decisions.
In return, they gain loyal partners who care deeply about the business and want to see it thrive.
Apply to become a small business president of an employee-owned company near you.
Support and community for small business leaders
Teamshares presidents don’t lead alone. We’ve built a strong support network to help them grow into their roles, share best practices, and stay connected with peers who are also leading small businesses.
When presidents have holistic support in their roles, they’re far more likely to be successful over the long-time.
For instance, Teamshares presidents regularly attend regionally-based meetups, share insights with one another through our peer community, and get industry-specific resources and support. Each company across the Teamshares network is part of an industry group, led by an industry lead who helps share learnings, foster growth, and encourage best practices across that group.
Whether it’s learning from a former owner, talking with a fellow president, or attending a relevant trade show, there’s always a path for continued growth and learning.
Interested in being a Teamshares small business leader?
Did the above description of what it takes to be a great small business leader resonate with you?
If you’re interested in being the president of a small business and helping it to transition to employee ownership, we’d love to hear from you. You can view our current small business leadership opportunities to learn more.
You can also follow us on LinkedIn to learn more about our mission, stay connected with new opportunities, and see the impact that employee ownership is having across our network of small businesses.
