From Goldman to Growth: Strategic Partnerships, AI Adoption, and Building Exit-Ready Businesses: A conversation with Candice Elsmore

Episode 215

Released July 24, 2025

 Interview with Candice Elsmore - Former Investment Banker turned COO, Strategic Partnerships Expert

Guest 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

1. Capability Building - Acquiring specific technology or skills to grow market share
2. 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 Eas