Episode Overview
Lynn Anstett built Stett Transportation from a folding table in her basement into one of Inc. Magazine's 5,000 fastest-growing companies in America. She went through a sale process, got two weeks from close — and walked away. Not because the deal fell apart. Because she realised what she was about to hand over, and it did not match what she had actually built. This episode is about what that process revealed, and what founders need to understand about owner dependency, leadership readiness, and identity long before they ever talk to a buyer.
What the Episode Explores
• How Lynn built Stett Transportation from a basement cold-calling operation to an Inc. 5000 company over 31 years
• Why she walked away from a deal two weeks before close and what she learned from the experience
• How to place the right people in the right seats and actually step back far enough that it sticks
• Why announcing a leadership transition is not the same as making one, and how to make it real
• The identity question every founder eventually faces: who are you without the business?
• What Lynn looks for in the founders she coaches today: the difference between a lifestyle business and a sellable asset
• Why removing fear-based decision making is the most important thing she would do differently
Lessons That Stay With You
You can put the leadership team in place and be clear on the roles. But until you step out and say no, I cannot make that decision, it is not real. You remain the node.
Getting the right people in the right seats is not a one-time event. You will outgrow managers, and the process happens more than once as the business scales.
The identity that was tied to the company does not disappear when the company changes hands. That work has to happen before the close, not after.
Once you cross the threshold from closing your first deal to building a real business, it is time to think about your exit strategy. Not at the end. Now.
Remove fear-based decision making. Trust the values. Course-correct when it is wrong. That is the whole game.
Moments That Linger
"It was never about the money for you. If you get the right people in the right seat, you do the right stuff, you walk the walk, the money comes."
"You continue to be the node until you push it back into the organisation. You create confusion the longer you stay engaged."
"I would remove fear-based decision making. I would guess to my gut. I'm a good human. If you operate with values, remove the fear and just go."
About the Guest
Lynn Anstett is the founder of Stett Transportation, a chemical freight brokerage she built over 31 years from a folding table in her basement into one of Inc. Magazine's 5,000 fastest-growing companies in America. She went on to serve as Global Chair of the Entrepreneurs' Organization, a network of 18,000 or more founders across 75 countries, and is a graduate of MIT's Entrepreneurial Master's Program.
Today, through Stett Leadership, Lynn coaches founders on removing owner dependency, placing the right people in the right seats, and building the systems that drive predictable, sustainable growth.
Resources & Links
• Stett Leadership: stettleadership.com
• Stett4Kids: stett4kids.com
• Email: lynn@stett.net
About the Host
Kevin Bonfield is a strategy advisor and operator with more than twenty years of experience helping mid-market companies scale through complexity, transition, and growth.
As the founder of Concentre, Kevin works with founders and private equity-backed companies to strengthen operating models, leadership capability, and organizational readiness ahead of critical growth and transition events.
Through The Mid-Market Edge Podcast, Kevin brings forward practical conversations focused on the realities of leadership, scale, integration, and value creation inside mid-market organizations.
About the Host
Kevin Bonfield is a strategy advisor and operator with more than twenty years of experience helping mid-market companies scale through complexity, transition, and growth.
As the founder of Concentre, Kevin works with founders and private equity-backed companies to strengthen operating models, leadership capability, and organizational readiness ahead of critical growth and transition events.
Through The Mid-Market Edge Podcast, Kevin brings forward practical conversations focused on the realities of leadership, scale, integration, and value creation inside mid-market organizations.
Connect with Kevin Bonfield: concentre.net | midmarketedge.com | https://www.linkedin.com/in/kevinbonfield/ | https://www.linkedin.com/company/109369119/
