Strategic Partnerships, AI Adoption, and Building Exit-Ready Businesses: A conversation with Candice Elsmore
This week’s guest on episode 215 of The Executive Edge is Candice Elsmore - Former Investment Banker turned COO, Strategic Partnerships Expert
Background
Candice Elsmore brings extensive international experience across four continents:
South African origins: Grew up in Johannesburg
Education: London Business School, Wharton (US)
Career progression: Investment banker at Goldman Sachs → COO roles → Strategic partnerships in tech/fintech
Current location: Middle East (UAE)
Specialization: Working with startups, blockchain companies, and financial disruption technologies
Key Discussion Topics
Investment Banking Insights
Top criteria banks consider for business investment:
Financial fundamentals - Numbers remain paramount
Strategic value - How the acquisition enhances existing business
Geographic/product synergies - Complementary capabilities or market access
Operational improvement potential - Ability to enhance cash flows
Future impact assessment - Particularly relevant for emerging technologies like AI
Strategic Partnerships: Two Main Categories
Capability Building - Acquiring specific technology or skills to grow market share
Distribution Access - Gaining connectivity to end users and new markets
Note: Strategic partnerships are particularly prevalent in fintech, where businesses need multiple channels but acquiring many companies isn't feasible.
Preparing Your Business for Sale
Critical considerations for business owners:
Customer diversification - Avoid concentration risk with only 1-2 major clients
Scalable processes - Build systems that don't depend solely on the founder
Talent and structure - Ensure the business can operate without daily founder involvement
Multiple stakeholder perspective - Consider how buyers will evaluate customers, products, and talent
Key insight: Buyers examine businesses from multiple angles - owners should proactively address potential blind spots.
Future Trends & AI Adoption
Practical AI recommendations:
Start using AI tools daily - ChatGPT, Claude (Anthropic), Perplexity
Begin with simple tasks - Letter writing, routine work (without sensitive information)
Build confidence gradually - Let AI learn your style and preferences
Strategic applications - Use for skill assessment, strategic thinking support
Expect 60-70% accuracy - Sufficient for overcoming writer's block and idea generation
Why change is difficult:
Human "caveman brain" associates change with danger
Evolution hasn't caught up with modern business needs
Small daily interactions (5-10 minutes) help build comfort
Managing Executive Pressure
Essential strategies for high-stakes decision making:
Diversify your identity - Don't tie self-worth solely to career success
Develop multiple outlets - Family, sports, faith, hobbies
Build habits over time - Can't create reserves during crisis moments
Non-negotiable personal time - 20-30 minutes daily for balance and control
Accept the reality - Senior roles come with unique stress and responsibility
Example: Many Goldman Sachs executives were marathon runners - long runs provide head-clearing, fresh air, exercise, and endorphins.
Navigating Workplace Diversity Challenges
Practical approaches:
Ask questions - Stay curious rather than defensive when facing bias
Professional boundaries - Know when to stand your ground appropriately
Develop diplomacy skills - Critical for senior diverse leaders
Stay calm and assertive - Avoid fight-or-flight responses
Ground yourself - Leverage other life aspects during difficult situations
Regional Expansion: Middle East Focus
Candice's new initiative:
Developing a private women's network in the GCC (Gulf Cooperation Council)
Initial focus: UAE and Saudi Arabia
Addressing gap in professional women's networking in the region
Drawing from successful UK experience with women's network "CHIEF"
Special Offer
Candice is offering free 15-minute consultations to three fintech professionals from the podcast audience. Contact Candice and let her know that you heard about this on Episode 215 of the Executive Edge Podcast with Sue Firth.
Key Takeaways
Numbers drive investment decisions, but strategic value and future potential are equally important
Strategic partnerships are essential in tech/fintech for capability building and market access
Business preparation for sale requires addressing customer concentration, operational dependencies, and structural weaknesses
AI adoption should start small and build daily habits rather than wholesale transformation
Executive resilience requires diverse identity, consistent personal practices, and strong support systems
Workplace navigation for diverse leaders demands curiosity, diplomacy, and professional boundaries
Change is the only constant - adaptability across markets and cultures is essential for success
About The Executive Edge
The Executive Edge provides practical skills for achieving and maintaining success in life and business. Available on all major podcast platforms.
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