{"podcast":{"title":"21 Hats Podcast","slug":"21-hats-podcast-502638","podcast_index_feed_id":502638,"rss_url":"https://www.spreaker.com/show/4439758/episodes/feed","website_url":"https://www.spreaker.com/show/21-hats-podcast","image_url":"https://d3wo5wojvuv7l.cloudfront.net/t_rss_itunes_square_1400/images.spreaker.com/original/27e8ec21209a6c9a99a0f0963132b13e.jpg","author":"21 Hats","episode_count":568,"summary":"The 21 Hats Podcast presents an authentic weekly conversation with small business owners who are remarkably willing to share what’s working for them and what isn’t. Unlike many business podcasts, which tend to talk to highly successful entrepreneurs whose struggles are in the past, the 21 Hats Podcast features a rotating cast of business owners who are still very much in the trenches fighting the good fight. Every week, our regulars gather to talk about the kinds of important issues many owners won’t even discuss behind closed doors: whether their businesses are as profitable as they should be, whether they are willing to give up some control to an investor in order to grow faster, why they had to lay off employees, how they wound up with way too much inventory, why they don’t have a succession plan, and even why they are concerned about their own mental health. Visit 21hats.com to hear all of our podcast episodes, read episode transcripts, and learn more. The show is produced by Jess Thoubboron, founder of Blank Word.","last_synced_at":"2026-09-18T20:17:08.095147+00:00","page_url":"https://stenobird.com/podcast/21-hats-podcast-502638"},"episode":{"title":"I’ll Deal with Succession Next Year","slug":"i-ll-deal-with-succession-next-year","published_at":"2026-07-14T09:00:23+00:00","page_url":"https://stenobird.com/podcast/21-hats-podcast-502638/i-ll-deal-with-succession-next-year","show_page_url":"https://stenobird.com/podcast/21-hats-podcast-502638","url":"https://21hats.com/ill-deal-with-succession-next-year/","audio_url":"https://api.spreaker.com/download/episode/72956376/cdfc0433_618a_4af0_b787_540b4fcfc455.mp3","summary":"If you’ve owned a business for any length of time, you’ve probably told yourself some version of this: I'll deal with succession as soon as I solve whatever crisis my business is confronting right now. The problem, of course, is that there's always another crisis to solve or opportunity to pursue, and time has a way of passing. Jay Goltz has spent decades building a collection of successful businesses in Chicago. He knows he needs a succession plan. He knows that if something happened to him tomorrow, there’d be chaos. And he'd very much like to leave the business in the hands of the employees who helped build it. Over the years, he's considered the usual options—selling to a bigger company, to a few key employees, to an ESOP, even to an Employee Ownership Trust. But every option comes with compromises. And so, year after year, it’s been easier to focus on challenges that seem more urgent—until this past April, when Jay turned 70. \"I realized,\" he says, \"I can't kick this down the road much further.\" This week, Jay sits down with David C. Barnett and Mel Gravely for an unusually candid conversation about what makes succession planning so difficult—even when you understand how important it is. Jay explains why he has no interest in selling, why money isn't really the issue, and why he still loves going to work every day. Mel, meanwhile, offers some tough love, suggesting that if protecting Jay's family and employees really are his priorities, then something else must be holding him back. Mel also shares an unexpected twist in his own succession journey. After stepping away from the CEO role two and a half years ago to become executive chairman, Mel found himself pulled back into operations this spring—a reminder that even well-designed succession plans don't always unfo…","meta_description":"If you’ve owned a business for any length of time, you’ve probably told yourself some version of this: I'll deal with succession as soon as I solve whatev…","key_points":[],"chapters":[],"topics":[],"duration_seconds":3098,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/21-hats-podcast-502638/episodes/i-ll-deal-with-succession-next-year/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/21-hats-podcast-502638/i-ll-deal-with-succession-next-year.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}