Janet Johanson started BevSource in 2002. She was just 24, motivated by the need to replace the $50,000 salary she lost when the contract beverage manufacturer she had worked for folded. By 2021, she built BevSource to $117 million as sole owner. It happened very incrementally, she says: “You’re able to feed your own family, then 10 [families], then 100. I realized how much I liked building and growth.”

To fuel that growth, BevSource partnered with Chicago private equity firm Shore Capital Partners in 2021 and grew to $300 million by 2023. Johanson, still a significant equity holder, stepped down as CEO in September 2023. She’s a strategic advisor and sits on the board, which became part of a larger umbrella company called FB Solutions Group. Now, with a year of perspective and a summer in Italy, Johanson reflects on knowing when it’s time to move on from a company you built and how to do it successfully.

Know your skills. “I’m a visionary. I love thinking about ideas. About six years ago, I realized I didn’t want to run the day-to-day any longer. The big decision points for me: who you marry (it’s lonely and you need someone to be your cheerleader), buying out my business partner, and bringing in a private equity partner to learn how to scale through acquisition. Partnering with private equity enabled us to operate at a higher level and pursue growth opportunities with greater clarity and confidence.”

Picking a private equity partner. “Know who you’re partnering with. Try to see them in as many situations as possible. Call other founders they’ve purchased from—not just the ones listed on their website. Ask hard questions upfront. And listen to your gut.”

Don’t hang around. “I’m a meddler. If I know the details, I’m going to problem-solve. So I tried to stay as hands-off as possible. Remember, you built your team to solve problems like you do. Let them.”

Crossing over. “The first board meeting was weird. People kept asking me questions, and I still knew the answers. But then you transition to the strategic side. You start thinking more big picture. Now I have time to absorb what’s going on in the rest of the world, so I can bring in new ideas.”

Do nothing for a year. “If the PTA asks you to become their president, you don’t have to say yes to that. Sitting on boards, investing in other companies—say no. At least until you have a clear idea about what you want to do next.”

EOS for the family. “My husband and I created an EOS (entrepreneurial operating system) vision board. Our core focus is to make a positive impact on those who aspire to bring joy to the world … to efficiently create pathways toward emotional and financial freedom for as many people as possible.”

What’s next. “I’d like to buy a business and make some impact for someone who didn’t have options. When you enhance a company’s culture, everyone on the team becomes a better leader.”