The Cash Rich Exit Podcast

Hosted by Colleen O'Connell-Campbell, Wealth Advisor at RBC Dominion Securities,

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100

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Jun 2026

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Colleen O'Connell-Campbell hosts The Cash Rich Exit Podcast dedicated to business owners planning for a crucial financial step - exiting your business. Featuring a diverse array of guests from various industries and ideologies, each episode dives into strategies for building not just an exit, but a cash-rich one. Topped off with 'fun, frank advice,' this podcast is your roadmap to a successful business exit.

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June 16, 202638 min

EP349 From $300 to a Multi-Million Dollar Exit

Bobbie Racette started with $300 at her kitchen table. Nine years later, she became the first Indigenous woman in Canada to build, scale, and sell a tech startup. In this episode - the first time Bobbie has dug into the details of the sale on a podcast - host Colleen O'Connell-Campbell sits down with the founder of Virtual Gurus, an AI-powered inclusive talent marketplace that matched underrepresented talent with businesses including Mastercard, Telus, and BMO. Bobbie shares the full arc: bootstrapping to $1.8 million in revenue before raising a cent, hearing 170 no's before closing a seed round, scaling through three funding rounds during COVID, becoming the first Indigenous woman in Canada to close a Series A, navigating founder fatigue, stepping down as CEO before the exit, and ultimately selling to a U.S. private equity firm that rolled Virtual Gurus into North America's largest virtual assistant platform - with the AI sold separately to a Calgary company. This is a conversation about what it takes to build something from nothing, what it costs personally, and what comes next when the mission is bigger than the transaction. Key Takeaways: Bobbie created Virtual Gurus in 2016 after being laid off in oil and gas and unable to find a job. She is Cree Métis, queer, and covered in tattoos - and nobody would hire her. The business started as a way to create a job for herself and evolved into a platform providing remote work to marginalized talent across Canada and the U.S. She bootstrapped to approximately $1.8 million in annual revenue before seeking external funding. The seed round took over two years and 170 investor rejections before closing at $1.25 million. The Series A, two years later, was significantly easier. Virtual Gurus scaled past $40 million in revenue and closed three funding rounds during COVID. Total capital raised was $14-20 million. The exit was not originally planned. For the first four years, Bobbie intended to keep the company as a legacy business. The shift came around 2022 when the scale of the operation began to outpace the original mission. The board recognized that an acquisition was likely the best path forward. The company was simultaneously pursuing a Series B and fielding acquisition offers - a dual-track process. The data room was already built for the fundraise, which accelerated due diligence to approximately five months. The acquisition by a U.S. private equity firm closed in November 2025. The AI platform was sold separately to a Calgary-based company - effectively a double sale. The core business was rolled into the acquirer's larger virtual assistant platform. Bobbie had stepped down from CEO to president in May 2025, with her COO becoming successor CEO. The successor stayed with the company through and after the acquisition. Bobbie's role during due diligence was primarily support - being available for the team mentally, emotionally, and strategically, while the finance team and executive team drove the process. Founder fatigue and decision fatigue were real and significant. Bobbie emphasizes that founders need to talk about this more openly, and that boards and investors need to be supportive during those low periods rather than adding pressure. Retention of employees during due diligence was one of the hardest parts. Bobbie's culture at Virtual Gurus was built on honesty and transparency, and not being able to tell her leadership team about the acquisition felt deeply uncomfortable. Post-exit, Bobbie has retired her parents (her mother was her first angel investor, contributing her last $20,000), bought a new home, and is investing time and capital into the next generation. She is now an angel investor in five businesses - all founded by people from underserved communities, including Indigenous and LGBTQ+ entrepreneurs. She has launched Tapwe (Cree for "truth"), a platform to support underserved founders with financial literacy, mentorship, AI-powered matching, and startup scaling resources. A documentary is in production. Her newsletter, The Fire Report, scaled to 4,000 subscribers almost immediately. She is also doing regular paid advisory sessions each week through her website. Bobbie's story is a reminder that a cash-rich exit can be deeply values-driven, inclusive, and barrier-breaking - and still set you up for whatever comes next. If today's episode has you thinking about your own journey, whether you are at the kitchen table, scaling fast, or quietly eyeing your exit, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell via LinkedIn or email Please leave a five-star rating and review to help more founders find this show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

June 2, 202633 min

EP348 80% of Small Businesses Never Sell

Here is a stat that should keep every small business owner up at night: approximately 80% of businesses never change hands. The owners simply close the doors, walk away, and leave decades of effort and equity on the table. In this episode, host Colleen O'Connell-Campbell sits down with Markian Pergat, an Ottawa-based entrepreneur who has lived the full arc - from student painter, to burnt-out sole operator sleeping five hours a night, to building a business that runs without him - and who is now on a mission to help service-based, trades, and Main Street business owners do the same. Markian walks through his EXITS Method, a five-part framework covering the emotional, strategic, and structural work required to build a business that is actually sellable. The conversation is a candid look at what happens when technical excellence masks business fragility, and what it takes to shift from self-employed technician to business owner with real options. Key Takeaways: Approximately half of Canadian businesses are still owned by baby boomers, and roughly 80% of small businesses never successfully transition to a new owner. They simply close. Markian started with College Pro Painters at 19 (winning Rookie of the Year for Eastern Ontario), then founded Sand and Stain, a seasonal wood restoration business in Ottawa. He spent years as a one-man operation - doing all sales, production, and emails - before hitting a breaking point and trying to sell. A broker told him the business was essentially unsellable because it was entirely dependent on him. That wake-up call launched a four-to-five-year transformation. Markian systematically removed himself from every role, built an online quoting calculator that replaced in-person estimates (going from 8-10 quotes per day to over 100), hired for sales and production, and turned the business into something that runs with minimal owner involvement. The irony: once it became sellable, he no longer wanted to sell. The EXITS Method is a five-part framework: E (Equanimity) - the emotional and mindset work of letting go of identity, title, and control. X (X Factor) - differentiation plays including micro M&A, where small businesses merge or acquire to reach a size that attracts larger buyer pools. I (Independence) - separating the owner from the business, and reducing dependency on any single employee, supplier, or customer. T (Transferability) - building the value levers that make a business attractive to a buyer: systems, recurring revenue, documented processes, and scalable operations. S (Strategy) - creating multiple exit pathways rather than a single plan, because life, markets, and technology can change overnight. The most common problem Markian sees: technically brilliant tradespeople and service providers who are thinking like technicians, not like business owners - and certainly not like buyers. The shift from "How do I do this work better?" to "How do I build an asset that works without me?" is the fundamental unlock. Markian's sweet spot is businesses in the zero to $5 million revenue range (up to $10 million), typically below the threshold where private equity would show up with a cheque. These businesses have the most room to pull levers and create value - and the most to lose if the owner does nothing. The best deals often happen off-market. When a business is visibly well-run, systematized, and not dependent on the owner, unsolicited offers start showing up - just like the best real estate deals happen before a listing goes live. Exit preparation is synonymous with business building. Start before you are ready. Even if you decide not to exit, going through the process of making your business sellable will make it better to own. Be part of the 20% who exit on purpose and on their own terms. Book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Let us talk about your time frame, your value, and your vision. Reach out on LinkedIn or email. Please leave a five-star rating and review to help more founders find the show. Thank you! *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

May 19, 202627 min

EP347 From Basement Labels to a $12 Million Exit

What happens when four moms start making labels in a Hamilton basement and, 14 years later, get a call from a global industry giant? In this episode, host Colleen O'Connell-Campbell sits down with Julie Cole, one of the four co-founders of Mabel's Labels, to trace the full arc: from masking tape and permanent marker frustrations in the early 2000s, to building a fiercely loved e-commerce brand, to a reported $12 million acquisition by Avery Labels that closed in under six months. What makes Julie's story unique is the fact that she is still at Mabel's Labels a decade later, now as Senior Director of Public Relations, championing the brand she helped build. The conversation covers what buyers actually look for, why keeping your house in order is non-negotiable, how four co-founders (who were also family) navigated decisions without destroying relationships, and why selling your business does not have to mean falling out of love with it. Key Takeaways: Mabel's Labels was founded approximately 23 years ago by Julie Cole, her sister, and two university friends who married into the family. It started in a Hamilton basement solving a simple problem - kids were losing their gear, and there was no good labelling solution beyond masking tape and marker. The four co-founders divided responsibilities by department (production, IT and finance, marketing, PR), which worked well early on but eventually created silos. Each founder became protective of their team's priorities, and the business reached a point where it needed one person overseeing the whole operation rather than four co-CEOs pulling in different directions. Managing a co-founding team that is also family requires deliberate effort. The founders brought in a coach to navigate difficult growth decisions and to separate business disagreements from personal relationships - a practice Julie compares to Midday Squares' weekly "family therapy" sessions. The acquisition by Avery Labels (a publicly traded company) happened fast - the initial call came in July, and the deal closed on New Year's Eve of the same year. Julie emphasizes this timeline is not normal and should not be expected. Due diligence is where you can lose money. A letter of intent might come in at one number, but if the buyer finds problems, the offer shrinks. Julie's advice: keep your housekeeping in order from the start, not just when a deal appears. The exit process is a full-time job. Having four co-founders meant one could focus on the transaction while the others kept the business running - a luxury solo founders do not have. Julie has seen entrepreneurs take their eye off operations during a sale, get left at the altar, and end up with a year of lost sales and deal fatigue. Because Avery is publicly traded, the founders could not tell their staff about the potential acquisition. They told the team it was a tax audit - which felt terrible given their culture of transparency - but was necessary for regulatory compliance. Once the deal was announced, the founders led with reassurance: no one was losing their job, the brand was staying, and the team would be supported through the transition. Two co-founders left immediately after the sale, one stayed as general manager for a couple of years, and Julie has remained for 10 years. She now reports to a former direct report who became GM - and is fully at peace with that dynamic. Her role is to be the brand's voice, its public face, and its connection to the community. The brand's longevity is built on community. Julie was one of the original "mom bloggers", has attended Mom 2.0 conferences for 18 years, and has continuously followed her audience from blogs to Facebook to Instagram to Reddit. Mabel's Labels looks like a low-tech product but is a high-tech, e-commerce-driven business that has adapted to every platform shift for over two decades. Julie is also the author of 'Like a Mother: Birthing Businesses, Babies, and a Life Beyond Labels', a bestseller covering her parenting and entrepreneurial journey. Julie Cole's story is a reminder that a cash-rich exit does not have to be the end - sometimes it is the start of the next chapter in the same business. If her story has you thinking about your own entrepreneurial journey, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Reach out on LinkedIn or email Could you leave a five-star rating and review please? It helps more founders find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

May 5, 202639 min

EP346 Profit Pays Your Bills, Value Gives You Options

Episode Summary: What is the difference between a business that generates income and one that creates wealth? In this episode, host Colleen O'Connell-Campbell sits down with husband-and-wife team Krystyn and Matt Harrison of Horizon Advisors, who bring complementary perspectives from different sides of the deal table. Krystyn is a five-time founder who learned the hard way what happens when you run your own sale process, lose competitive tension, and have a seven-figure LOI collapse in eight weeks. Matt spent his M&A career watching owners come to market for the wrong reasons - cancer diagnoses, divorces, sudden deaths - and seeing how lack of preparation cost them millions. Together, they now work with founders at a million dollars or more in EBITDA to build businesses that are more valuable, less founder-dependent, and full of options - whether that means scaling further, stepping back, or selling. The conversation covers founder psychology, the control trap, why your best seller being the owner is a red flag to buyers, and how to flip the mindset from working in your business to working on it. Key Takeaways: Krystyn built Prosper, a coaching platform with 30,000 users and clients including RBC and Lululemon. When a close competitor raised $150 million, she pursued a sale. Running her own process without an M&A advisor, she lost competitive tension, watched a seven-figure LOI fall apart, and ultimately exited on far less favourable terms. Lesson one: do not run your own process. Lesson two came after the deal closed - Krystyn had no plan for what came next. An empty calendar and an identity crisis followed. The exit is not a headline. It is a phase of the business, and personal readiness is part of it. After Prosper, Krystyn operated within a U.S. private equity roll-up in the e-commerce ecosystem, where she learned to build value through the enterprise value lens - not just revenue growth, but moving the multiple by putting systems, process, data, and assets in place. Matt's M&A experience revealed that most owners came to market for difficult reasons - health crises, divorce, death. Very few were proactively prepared. The most common gaps were financials with small errors that eroded buyer trust, tax planning that should have started two years earlier, and founder dependency that made the business look risky. Founder dependency is one of the biggest destroyers of enterprise value. Matt saw owners proudly declaring themselves their company's best salesperson - which is exactly what buyers do not want to hear. Buyers want a sales engine, not a sales hero. Client concentration of 85% held by the founder is pure risk in a buyer's eyes. Profit pays your bills. Value gives you options. A profitable business with heavy founder dependency may generate strong income but will not command the valuation or optionality the owner is hoping for. Krystyn's two litmus tests for founder dependency: First, in the last two weeks, how many of your leaders came to you with problems versus solutions? If they are bringing problems, you may have created a culture where you solve everything for them. Second, imagine you are on a desert island for four weeks with no devices - what would break? The answers reveal where the business is too dependent on you. Horizon Advisors works with founders at a million or more in EBITDA. They start with a complimentary 90-minute value baseline assessment covering approximately 24 value drivers, then move into long-term one-on-one advisory engagements (bi-weekly two-hour sessions with the founder, quarterly strategic planning with the leadership team). All advisors are former operators and owners themselves. They track enterprise value monthly and view everything through the lens of building optionality - not just preparing for a sale, but making the business more valuable regardless of what the founder decides to do next. Krystyn also hosts the podcast 'Worth Owning', exploring what it means to build businesses and lives worth owning - with a focus on the emotional journey, not just the transaction. If this episode has you wondering whether your business is building enterprise value or simply generating income, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Let us connect today's decisions with your future cash-rich exit. Reach out on LinkedIn - Colleen O'Connell-Campbell - or email 📩 Leave a five-star rating and review. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

April 21, 202648 min

EP345 Exit Lessons from Across the Atlantic

Episode Summary: Canada's Employee Ownership Trust legislation is relatively new. The UK's has been in place since 2014. In this episode, host Colleen O'Connell-Campbell crosses the Atlantic - virtually - to sit down with Christine Nicholson, a UK-based exit strategist who has spent her career founding, selling, and helping others exit businesses. Christine brings 12 years of firsthand perspective on what happens when EOTs work, when they fail spectacularly, and what separates the two. The conversation covers the three phases of exiting a business (the day-to-day, control, and ownership), why the EOT structure has been fastest-growing among professional services and architecture firms in the UK, a good-bad-ugly breakdown of real EOT outcomes, the psychology of letting go, and three practical steps any business owner can take in the next six to 12 months - whether they pursue an EOT or not. Christine also shares a powerful client story about a founder who was afraid his team would succeed without him, and what happened when he finally let them try. Key Takeaways: Christine frames every exit as three separate transitions: exiting the day-to-day operations, exiting control and decision-making, and transferring shares. Most founders fixate on the third while neglecting the first two - which are often the real barriers to a successful outcome. The UK introduced EOT legislation in 2014, offering zero capital gains tax when a business owner sells shares to an employee trust. The owner is paid out of the future profits of the business up to the value at the time of transfer. Canada's legislation was modelled in part on the UK's structure. In the UK, professional services firms - particularly architecture, engineering, and other talent-dependent businesses - have been the fastest-growing adopters of the EOT model, because it serves as both a succession vehicle and a powerful talent retention tool. The good, the bad, and the ugly of UK EOTs: The bad involved an owner who completed the transaction without telling employees, threw his keys on the desk Monday morning, and said "don't muck it up". The ugly involved an owner who gave employees only two weeks' notice, disappeared on day one, never got paid, and the company went into liquidation within 14 months. The good involved two burned-out owners who built a strong team, communicated clearly, elevated their employees, and are now working part-time in a business that has become the market share leader in its sector - with employees actively driving efficiency because they understand the link between performance and their bonus pool. The common thread in failures is not the EOT structure itself - it is the absence of preparation. An owner who disappears without building bench strength will see the business fail regardless of the ownership model. The typical timeline from owner disappearance to liquidation is about 12 months. Christine's three practical steps for any owner considering an EOT (or any exit): First, write down every decision you make and every thought you have about the business that would not happen without you - be ruthlessly honest, like keeping a food diary. Second, get your team to do the same, and identify who the "self-levelling cement" person is - the fixer who papers over every crack and prevents others from knowing they would have failed. Third, join those two pictures together and begin empowering employees to make decisions incrementally - millimetre by millimetre, not all at once. These three steps will increase the value of your business whether you pursue an EOT or not. Removing the owner as the sole decision-maker is the single most important thing a founder can do to make their business survivable, sellable, and scalable. Christine shared the story of a client who built a brilliant team over 25 years but could not see a successor because none of them looked like him. The breakthrough: he did not need another version of himself. He needed someone who could take what he built and elevate it. That business is now worth many multiples of what it was, runs without him, and has a queue of potential buyers - but his wealth advisor told him to keep owning it, because no investment could match the return. Culture eats strategy for breakfast - and Christine has watched PE buyers destroy great businesses within two years by gutting the culture and losing every employee. EOTs, by contrast, create alignment between ownership, performance, and retention. Whether you are exploring an EOT or simply thinking about your eventual exit, the work starts the same way: building a business that does not depend entirely on you. Book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell to map the gap between what you have built and what you need personally to fund your life after the exit. Reach out on LinkedIn or email. Please leave a five-star rating - it helps more founders find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

April 7, 202631 min

EP344 Canada's Largest Employee Ownership Trust (Inside Taproot's Transition from ESOP to EOT)

What happens when a company that is already employee-owned realizes its ownership model is not built for the next chapter? In this episode, host Colleen O'Connell-Campbell sits down with Michael (Mike) Fotheringham, CEO of Taproot, and Robert MacDougall, Board Trustee. Taproot is a 42-year-old national social enterprise with 775 employees and over $65 million in annual revenue. They unpack how and why the organization became Canada's largest Employee Ownership Trust (EOT). Taproot's journey runs from its founding by a laid-off public servant in British Columbia, through a management buyout that created an ESOP with seven shareholders, to the realization that the next succession needed a cleaner, broader, and more scalable structure. Mike and Robert walk through the real story: how a LinkedIn podcast discovery sparked the conversation, why the EOT legislation provided a template that other structures could not, what governance looks like four months into the new model, and why transparency with employees started years before the transaction - not after. Key Takeaways: Taproot was founded 42 years ago by Bill Stelmachek, a former British Columbia public servant, and operates in two domains: children and youth services (including group homes) and direct support for adults with diverse abilities, across BC, Alberta, and Northern Ontario. When Bill decided to exit 18 years ago, he had interest from U.S. private equity and real estate buyers, but chose to sell to employees. Seven employees purchased the company and paid him out over several years, forming an ESOP. That ownership group grew to 30 shareholders over time. The succession challenge resurfaced as major shareholders began approaching retirement. The board explored multiple options - another management buyout, private equity, gifting share certificates to all employees, trust company arrangements, and buy-co structures - but each had significant drawbacks, particularly the administrative burden of managing shares across nearly 800 employees. The EOT conversation began when Mike heard a podcast from Social Capital Partners about the employee ownership trust model, shared it with the board, and connected with Tiara LeTourneau at Rewrite Capital Advisors. A feasibility study confirmed Taproot was a strong fit, and the board green-lit the transaction in January 2025. The EOT's capital gains tax exemption was not the primary driver of the transaction, but became a strong motivator during the process and contributed to 100% of shares being transferred into the trust. The more fundamental appeal was that the EOT legislation provided a clear template - parameters, structure, and guidance - that other models lacked. Governance under the new EOT structure includes three employee trustees (staggered three-year terms, elected by employees), an independent board of directors (confirmed by the trustees), and the management team. These three groups are now more distinct than the previous model, where senior management, majority owners, and the board overlapped heavily. Day-to-day operations have not changed dramatically. Taproot had already been practicing quarterly all-staff financial updates for two years before the transaction - a transparency habit that made the cultural transition smoother. Employees are now waiting for the first year-end to see what dividend distribution looks like. The design and governance work began before the transaction closed, with joint sessions between trustees-to-be, the incoming board, and management to establish how the groups would work together. Four months in, the structure is still being refined - but the right mix of continuity and new perspective is in place. Rewrite Capital Advisors guided the feasibility study, due diligence, and transaction design. Previous Cash Rich Exit Podcast episodes with Rewrite Capital and Firefly Insights cover the technical structure of EOTs in more detail. Taproot's story shows that selling your company does not have to mean selling out your values. A thoughtful process - including governance at the board level - can create both liquidity and long-term stewardship. If today's episode sparked questions about your own transition, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Reach out on LinkedIn or email. 📩 Please leave a five-star rating and review - it helps more founders and business owners find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

March 24, 202629 min

EP343 After the Exit - Identity, Reinvention, and the Next Chapter

What happens after you sell the business that defined you? In this episode, host Colleen O'Connell-Campbell sits down with Candace Sutcliffe, who spent nearly 20 years building The Chef's Paradise (CA Paradis) - a 104-year-old Ottawa retail institution - from employee to president to co-owner, and then made the bold decision to sell to Quebec-based industry leader Doyon Després and step into a corporate executive role. This is a candid conversation about what it actually looks like to navigate a multi-generational business transition: the operational preparation, the culture clash considerations, the identity crisis that comes with letting go, and the unexpected lessons of moving from entrepreneur to executive. Candace shares why protecting her team was non-negotiable, how she learned to detach her identity from the business, and why the exit she never imagined turned out to be exactly the right move. Key Takeaways: Candace started as a retail manager at CA Paradis in 2005, became president in 2013 before acquiring the business, and co-owned The Chef's Paradise from 2017 until selling to Doyon Després about two years ago. She now serves as a corporate executive within the acquiring company. The business had two distinct sides - retail (profit-driven) and food service (volume-driven) - that acted as natural checks and balances. When one side was up, the other was typically down, creating more consistent overall performance. The decision to sell was not originally in the plan. An interested party prompted the conversation, and the ownership team set a number that made sense. When it was met, they moved forward. As Candace puts it: everything is for sale if the price is right. Culture fit was the deciding factor in choosing a buyer. Another interested party from the GTA was considered, but the culture clash would have been too significant. The Doyon Després team shared a similar francophone heritage and family business DNA - and half the acquiring company had originally started their careers at CA Paradis. Protecting the existing staff was a non-negotiable condition of the sale. The owners needed assurance that employees would be kept on, kept whole, and given opportunity for growth. The transition from owner to executive required learning patience, letting go of control, and accepting that decisions are no longer yours to make. Candace describes an identity crisis that comes with selling - the realization that you are not your business, even when you have been the face of it for two decades. Rebranding from CA Paradis to The Chef's Paradise was in itself a major strategic decision that took nearly a year, with deliberate thought given to logo, colour, and market positioning. The subsequent absorption into the Doyon Després brand has created new challenges in the Ontario market, particularly with Anglophone customers and staff. In the current economy - trade wars, cost of living pressure, daily uncertainty - Candace believes it was the right time to sell. The business needed either a new location or significant infrastructure investment to continue growing, and the deeper pockets of the acquiring company made that possible. The business still operates its experience kitchen in Ottawa, hosting wine tastings, themed dinners, and chef-led events - designed as a marketing and community-building tool rather than a profit centre. Selling your business is not necessarily the end - it can be a stepping stone into a new chapter. If you are a business owner thinking about your own transition, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Let's make sure your exit is intentional and aligned with your values. Please leave a five-star rating and review - it helps more founders find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

March 10, 202633 min

EP342 How SheBoot is Solving the 2% Problem

Host: Colleen O'Connell-Campbell, Wealth Advisor, RBC Dominion Securities Guests: Sonya Shorey (CEO, Invest Ottawa), Jennifer Francis (Chair, Capital Angel Network), and Julia Elvidge - Co-founders of She Boot Episode Summary: Only 2% of venture capital flows to women-founded companies - yet women start roughly 15% of all companies. In this episode, Colleen sits down with the three co-founders of SheBoot, a national nonprofit that is tackling this gap from both sides of the table - making women tech founders investment-ready and mobilizing women angel investors to fund them. What started in 2020 with 10 investors putting in $10,000 each has grown into a national program with a waitlist of investors, $300,000 in annual investment prizes, and $54 million catalyzed in follow-on funding. The conversation covers how SheBoot's dual mandate works, the special purpose vehicle structure that simplifies the cap table, real stories of founders who have scaled from pitch competition to million-dollar raises and beyond, and why getting more women investing is just as critical as getting more women funded. Key Takeaways Women receive approximately 2% of venture capital despite founding roughly 15% of companies. Women founders are far more likely to bootstrap - and research shows that is often by necessity, not by choice. She Boot was born in 2020 when the co-founders noticed women were not showing up to pitch competitions. The program now operates nationally (incorporated as a national nonprofit in 2022) with founders from coast to coast. The model has a dual mandate - helping women tech founders become investment ready, and activating women angel investors. Both sides are essential - founders need to see women in the room when they pitch, and investors need practical, hands-on education in how to evaluate deals. Each year, 30 investors contribute $10,000 each for a total of $300,000 in investment prizes ($150K first, $100K second, $50K third). The investment is structured through a special purpose vehicle (SPV), so only one name appears on the founder's cap table while 30 partners share in the investment. Investors receive practical angel investing education - including writing investment memos, conducting due diligence, and evaluating data rooms - paired with more experienced investors in a mentorship structure. The program has catalyzed $54 million in follow-on funding across its portfolio of women-founded companies. Notable alumni include Cinareo (customer support software, raised over $1M within six months of graduating), Ayrton Energy (hydrogen carrier technology for residential use, raised $10M), The Growcer (hydroponic shipping containers growing fresh produce in temperatures as low as minus 50°C, deployed in Indigenous and remote communities), and Flutter Care (med-tech wearable to detect early warning signs of stillbirth, beginning clinical trials at the Ottawa Hospital). 50% of SheBoot founders identify as BIPOC or LGBTQ+. The co-founders are actively working to build that same diversity into the investor group. Capital Angel Network, one of the founding partner organizations, has grown from having two women members to roughly one-third women - with a goal of reaching 50/50. In Canada, CRA data shows 90% of women-owned businesses file as self-employed, meaning most are not incorporated and not building a sellable asset. Solving the 2% problem takes a multi-pronged approach - more women investing, more women-founded startups funded, and real-world impact that multiplies across our economy. If today's conversation sparked ideas for your own growth-to-exit path, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell onLinkedIn or via email. 📩 Leave a five-star rating and review - it helps more founders find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

February 24, 202634 min

EP341 Cash Confidence is the Missing Piece in your Exit Strategy

Revenue is vanity. Profit is sanity. Cash flow is sovereignty. In this episode, host Colleen O'Connell-Campbell sits down with Melissa Houston - CPA, business finance coach, fractional CFO, and author of 'Cash Confident' - to explore why so many business owners are working hard but not building wealth. Melissa shares her mission to close the business financial literacy gap, particularly for women entrepreneurs, and explains how a few key changes in pricing, expense management, and cash flow can completely change a business's trajectory. The conversation covers the emotional side of money (including both Colleen's and Melissa's personal money stories), the alarming stats on women-owned businesses, and why understanding your numbers is the foundation for building a business that is not just profitable, but sellable. Melissa also previews Profit Buys, her AI-powered tech platform designed to put a fractional CFO in every business owner's pocket. Key Takeaways: Financial literacy is not optional for business owners. Your accountant, bookkeeper, and financial advisor are partners - but they do not give you permission to check out of your own numbers. Revenue and profit are not the same thing. Melissa has seen seven- and eight-figure businesses go bankrupt because they were not managing cash well. Volume does not equal profitability. The three changes that move the needle fastest are ensuring your pricing is profitable, managing your expenses deliberately, and understanding that cash balances and profit are two different things. Many business owners do not know which of their products or services is most profitable - and often assume it is their best seller, which is not always the case. Promoting your most profitable offer can change the trajectory of the business. Money mindset is a muscle, not a one-time exercise. Everyone carries a money story from childhood, and those stories show up in business decisions - from hesitating on sales to underpricing services. The stats on women-owned businesses are sobering: of 13 million women-owned businesses in the U.S., only 1.9% generate over $1 million in revenue, roughly 68% make under $50,000 per year, less than 2% of women have a financially successful exit, and less than 2% of venture capital goes to women. In Canada, CRA data shows 90% of women-owned businesses are filing as self-employed - meaning they are not incorporated and likely not building a sellable asset. Whether you are a startup, scaling, or thinking about your exit, your business should be an asset that supports your long-term goals and legacy. If this episode has inspired you to rethink your exit path, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Reach out on LinkedIn or email. 📩 Please leave a five-star rating and review - it helps more founders find the show and build their path to a cash-rich exit. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

February 10, 202641 min

EP340 The Pension Playbook

Episode Summary: Forget everything you thought you knew about pension plans being just for government workers. In this episode, pension lawyer Jean-Pierre (JP) Laporte, Pension Lawyer and Founder, Integris Pension Management, joins host Colleen O'Connell-Campbell to share a series of powerful, real-life case studies showing how registered pension plans - including Individual Pension Plans (IPPs) and Personal Pension Plans - are quietly and dramatically transforming the wealth trajectories of incorporated business owners across Canada. From a 73-year-old founder who saved his family $4 million in a single phone call, to a lawyer who discovered his pension was exempt from departure tax when relocating abroad, these are stories of what happens when the right strategy meets the right advisor. JP also breaks down the seven tax deductions available through a registered pension plan, the 2020 Ontario regulatory changes that removed the biggest barriers to entry, and why the only thing standing between most business owners and better retirement outcomes is awareness. Key Takeaways Since December 8, 2020, Ontario eliminated provincial registration requirements for connected persons, removing mandatory contributions, locking-in rules, and provincial fees - a major change for business owners. Registered pension plans offer up to seven corporate tax deductions, compared to the single annual RRSP contribution - including past service recognition, higher annual contributions (up to ~30% by age 64), special catch-up payments, investment management fee deductions, loan interest deductions, and terminal funding contributions for early retirement. Family business owners can add children to the pension plan once they are employed, creating a multigenerational wealth transfer vehicle with no 21-year deemed disposition rule (unlike family trusts). Business owners holding passive investments inside their corporation can sell capital properties to fund the pension plan, offset the capital gain with the pension deduction, and generate tax-free capital dividends - creating a "corporate TFSA" effect. Pension assets are exempt from departure tax when a business owner becomes a non-resident of Canada, and cross-border pension income is taxed at just 15% under most tax treaties (versus 25% for RRSP withdrawals). Upon death without a spouse, pension plan assets can be split among multiple beneficiaries (including charities), with each taxed only on what they receive - a significant income-splitting advantage over RRSPs. Pension plan assets enjoy creditor protection in Ontario, unlike RRSPs held outside of insurance companies. Ideal Candidates: Family business owners with multiple generations, C-suite executives earning high T4 income, and incorporated professionals (doctors, lawyers, accountants, pharmacists). If you are an incorporated business owner An IPP can be a tax smart retirement engine for the right incorporated owner, but it comes with rules, admin, and costs that need to be understood up front. You can fund with more flexibility as you age, but access is not as instant as an RRSP unless you plan for wind-up timing and implications. The structure can support creditor protection and estate or succession planning in ways many founders do not consider early enough. Book a one on one Wealth Gap Analysis with Colleen O'Connell-Campbell to pressure test whether your personal plan is aligned with your exit and retirement strategy. 📩 Leave a five-star rating and review please. It helps more founders find the show and build their path to a cash-rich exit. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.