Succession Stories: Recent Episodes
Laurie Barkman
The Succession Stories Podcast is a show hosted by Laurie Barkman, Founder of SmallDotBig, discussing thought leadership and best practices for next generation entrepreneurs and multi-generational businesses. The show features interviews with family business leaders and industry experts to provide listeners with insights to grow their businesses, develop transition strategies, and lead for the future.
Podcast Episode Description
"You are the leadership lid of your company. If you don't grow yourself, you will top out the growth of the company." Host Laurie Barkman sits down with Patrick Thean, co-founder of Rhythm Systems and author of the Wall Street Journal bestseller Rhythm and The Journey to CEO Success.
Patrick started his career at Oracle, founded Medicis — a supply chain software company — in 1991, grew it to $25 million in sales in seven years while making the Inc. 500 at #51, and sold it at 32 feeling not victorious, but lost. He then survived the dot-com bust, sold his stake in a second company he no longer felt passionate about, and eventually discovered his true calling: helping CEOs avoid being blindsided by the things that destroy companies not because of bad strategy — but because of poor execution.
Patrick shares the lessons that only come from living through it: cash flow, burnout, identity crisis, accountability, self-awareness, and what it really takes to build a business that can thrive without you.
Key Insights
- Cash is oxygen — and revenue without collection is just a number. Patrick never missed payroll across all the companies he ran. The reason: he learned early that profit on paper means nothing if you haven't collected. Sales go up, profitability goes up, but if cash doesn't follow, the business dies. Cash is king — not revenue.
- A burnt-out founder CEO is not good for anyone. Patrick burned the candle at both ends and in the middle — and thought it was a badge of honor. It wasn't. He initially believed taking care of himself was selfish. The reframe: you are the leadership lid of your company. If you don't grow yourself, you cap the company's growth. Putting your oxygen mask on first isn't selfish — it's strategy.
- Most companies don't fail because of bad strategy. They fail because of poor execution. Strategy is fun — you can sit in a room and come up with ideas all day. The hard work hasn't started yet. Patrick's niece wanted to be an Olympian at 12. She made it — after a decade of consistent daily commitment. The gap between decision and getting it done is commitment. And most organizations can't close that gap.
- Accountability is about helping someone succeed — not punishing them for failing. Most leaders define accountability as consequences after the fact. Patrick reframes it: accountability starts at the beginning, helping the person understand what they need to do to succeed. If you're whacking someone on the head, it's already too late. Both parties must share the same philosophy — otherwise one sees coaching, the other sees micromanagement.
- The fish rots from the head — and that means you. When Patrick works with a struggling CEO, the first question he asks is: what part in this movie did you play? Not to assign blame — but to open the possibility that the leader is part of the problem. The leaders who grow the fastest are the ones willing to look in the mirror before they look at their team.
- Build a business that can run without you — before someone forces you to. Patrick's friend sold his company with one specific request: he didn't want to stay after the transaction closed. He got his wish — because he had trained a strong president who could run everything. The buyer didn't need him from day one. That's the goal. Build the machine, then make yourself optional.
Chapters:
- 00:04 Introduction of Patrick Thean
- 01:28 Patrick's Background — From Cornell to Oracle
- 02:01 Early Career Lessons at Oracle
- 02:56 Founding Medicis: Zero to $25M in 7 Years
- 03:22 Cash Is King — The Lesson Every Founder Learns Too Late
- 05:08 Selling Medicis at 32 — And What It Actually Felt Like
- 07:29 Burnout, Self-Care, and the Oxygen Mask Principle
- 10:18 Identity After the Exit — "I Don't Know If I Can Program Anymore"
- 12:53 The Dot-Com Company: Saving the Child You Don't Love
- 14:32 The Question That Changed Everything: What Do You LIKE To Do?
- 16:05 Why Transitions Are Hard Even When They're Positive
- 19:33 Execution vs. Strategy: Why Most Companies Fail
- 20:08 The Olympian Analogy — What Real Commitment Looks Like
- 23:09 Accountability: Helping People Succeed, Not Punishing Failure
- 25:27 The Fish Rots From the Head — And That Means You
- 25:53 What Part of the Movie Did You Play?
- 28:03 Do Most Leaders Have Self-Awareness?
- 29:22 Questions Every CEO Should Ask Themselves Regularly
- 32:41 The One Lesson for Founders Five Years From Transition
- 34:57 Patrick's Legacy: Helping Entrepreneurs Make Better Decisions
- 36:41 Books, Resources, and How to Connect with Patrick Thean
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Patrick Thean:
Website: http://rhythmsystems.com LinkedIn: https://www.linkedin.com/in/patrickthean Email: patrick@rhythmsystems.com
Podcast Episode Description "A successful exit isn't about leaving your business. It's about leaving the world a better place after you leave it." Host Laurie Barkman welcomes back Scott Snider, President of the Exit Planning Institute — the organization behind the Certified Exit Planning Advisor designation and the Value Acceleration Methodology — for a return conversation four years in the making.
Since their last episode in 2022, EPI has grown from 3,000 to 11,000 CEPAs, Scott has navigated his own leadership succession from his father Chris, and the exit planning profession has undergone one of its most significant evolutions yet. Scott and Laurie unpack what has changed — and what hasn't — about how business owners think about exit planning, why personal planning remains the weakest leg of the stool, and why exit strategy and business strategy are not two separate conversations.
Key Insights:
- The leadership transformation nobody talks about is the internal one. Scott went from a militant, gritty leadership style — forged running a landscape construction company — to leading a 56-person team of highly educated, motivated professionals who needed to be led completely differently. His biggest surprise? Discovering he was capable of leading with empathy, grace, and love. The style that built his first business would have destroyed this one.
- Decades of success does not equal transferable value. Business owners can have profitable products, great people, loyal customers, and a lifestyle they love — and still have nothing a buyer actually wants. Scott draws a sharp line between income and value, between success and significance. The gap between the two is exactly why exit planning exists — and exactly why owners keep kicking the can.
- Baby Boomers, Gen Xers, and Millennials are asking completely different exit questions. Baby Boomers — who own 51% of privately held companies at an average age of 67 — are navigating a 50-year identity crisis. Gen Xers want out early so they can actually live, with 38% between 45 and 59 planning to exit earlier than their predecessors. And Millennials have grown up inside value acceleration thinking — they're already building to sell.
- Personal planning is still the weakest leg of the stool — and that needs to change. Despite all the evolution in exit planning since 2005, personal planning remains the area most business owners defer, dismiss, or avoid entirely. Scott's challenge to the profession: stop treating it as the soft stuff. Who am I with and without my business is the most important question a founder can answer — and most never do.
- Exit strategy and business strategy are the same conversation. Every decision a business owner makes today is already affecting their future exit value. Scott reframes the entire conversation: instead of positioning exit planning as something you do when you're ready to leave, position it as what makes your business stronger, more financeable, and more valuable right now. The foot in the door is helping owners grow a better company — the exit conversation follows naturally.
- The profession is growing — but awareness is still the biggest gap. With 11,000 CEPAs and a path to 20,000, EPI's CEPA credential could become the second largest professional credential in the country. But even at 20,000, it would still be a fraction of the 250,000 CFPs. The next five years are about activation — helping advisors start the conversation with owners earlier, and meeting owners where they are before a triggering event forces their hand.
Chapters: 00:04 Introduction and Four Years Later — What's Changed 01:56 Welcome Back: Scott Snider Returns to Succession Stories 02:57 What Scott Did When He Got the Baton at EPI 04:10 First Year Priorities: Structure, People, and Culture 05:58 The Challenge of Succeeding a Founder — Even a Non-Traditional One 09:28 The Biggest Personal Surprise of Scott's Leadership Journey 10:55 Head, Heart, and Wallet: The Balance of Leadership 12:16 How the Exit Planning Conversation Has Evolved Since 2022 14:34 Are Business Owners Asking Different Questions Today? 17:00 Gen X, Baby Boomers, and Millennials: Three Different Exit Mindsets 19:18 The Biggest Misconception About Exit Planning That Still Frustrates Scott 22:19 Personal Planning and the Card Sorting Exercise 25:13 Decades of Success But Zero Significance — Why Owners Kick the Can 26:15 What Needs to Happen to Make Exit Planning Mainstream 29:50 How Advisors Should Start the Conversation With Business Owners 30:32 Exit Strategy IS Business Strategy 32:42 Lightning Round: Books, Advice, and Finishing the Sentence 34:13 What Scott Hopes His Dad Would Say About the Last Four Years
🎙️ Missed Scott's first appearance? Catch Episode 89 with Scott Snyder — the conversation that started it all. Watch here: https://podcasts.apple.com/ca/podcast/make-your-business-independent-of-you-scott-snider/id1507050698?i=1000558509078
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Scott Snider / EPI: Website: https://drivevalue.com/ Website://earncepa.com LinkedIn: https://www.linkedin.com/in/scott-snider-epi
Podcast Episode Description:
"It's an exit plan, not an exit due." Host Laurie Barkman sits down with Alan Bennett, founder of Trust Built Solutions and exit planning coach who has lived through three very different business exits — a retail meat market that he closed in 2008, a contract catering business that a seller-financed deal and COVID unraveled in 2020, and a psychiatric practice exit to private equity where he finally got to use every lesson he had learned the hard way.
Alan's story is one of the most honest and unfiltered accounts of what owner dependency really costs — not just in valuation, but in hours, health, relationships, and missed opportunities.
He shares the trust cycle that unlocks delegation, the trap that keeps owners perpetually in the weeds, and why exit planning isn't about selling — it's about building a business that actually works without you.
Key Insights
- You can build a $2 million business and still have nothing to sell. Alan's first business did over $2 million in combined retail and catering revenue — but without systems, processes, or a team that could run without him, he had no transferable asset when the time came. When the landlord forced the issue in 2008, closing was the only option. The business had value in revenue but none in structure.
- The tape measure at 2am is the moment owner dependency becomes visible. Alan snuck into his meat market at 2am to measure steaks with a tape measure — and his team saw it on the security camera. That moment destroyed their trust in him. Owner dependency isn't just about overwork — it's about the signal you send your team every time you step in to fix what they should be handling.
- Trust is the real solution to owner dependency — and it flows both ways. Owners think the problem is whether they trust their team. The real problem is whether the team trusts the owner. Trust must be rebuilt the same way it was broken, consistently over time. Once the team sees the owner trust them, delegation follows — and with delegation comes purpose, accountability, and a business that runs without the owner in every room.
- Recurring contract revenue changes everything about valuation. Alan's second business had almost the same revenue as his first — but seven school contracts and two summer camp agreements made it dramatically more valuable on paper. The nature of the cash flow matters as much as the size of the revenue. Predictable, contracted income is what buyers pay premiums for.
- Seller financing without protective deal structure is a catastrophic risk. Alan's chef bought the catering business on a 10-year seller note — and COVID made him unable to pay after four months. Because the right protective language wasn't in the agreement, Alan had no real recourse beyond liquidating equipment at pennies on the dollar. The deal structure must be built before the agreement is signed, not after something goes wrong.
- Exit planning is not the same as selling — and most owners don't know the difference. Many business owners, especially in the trades, recoil at the phrase "exit planning" because they think it means they're selling. Alan reframes it: a well-executed exit plan makes the business easier to grow, easier to finance, and easier to scale — whether you ever sell or not. The best time to start was 20 years ago. The second best time is today.
Chapters:
- 00:05 Introduction of Alan Bennett
- 01:13 Business #1: The Retail Meat Market
- 06:34 100 Hours a Week and the Physical and Mental Toll
- 08:45 The $30,000 Consultant and the Map He Couldn't Read
- 10:23 Closing the Business: No Runway, No Plan
- 12:30 The Anger After the Close — And What He Learned
- 14:00 Business #2: The Contract Catering Company
- 15:51 How Recurring Contracts Changed the Business Model
- 18:30 Working 25 Hours a Week in Flip Flops
- 19:30 The Seller-Financed Deal with His Chef
- 21:21 COVID Hits: Four Payments In, Everything Stops
- 25:18 Liquidating the Assets and Licking the Wounds
- 27:54 Business #3: The Psychiatric Practice Exit to Private Equity
- 29:30 Owner Dependency — Calling It What It Is
- 30:55 The 2am Tape Measure Story That Changed Everything
- 33:30 How Trust Is Broken — And How It's Rebuilt
- 35:57 The Owner Dependency Trap: Bridging the Gap
- 40:31 Exit Plan vs. Exit Due — The Reframe That Changes Everything
- 41:44 Key Takeaways for Business Owners Thinking About Transition
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Alan Bennett: Website: https://www.trustbuiltsolutions.com LinkedIn: https://www.linkedin.com/in/alanbennettcepa Email: alan@trustbuiltsolutions.com
"These are long-term decisions that have far-reaching impacts — not just for us, but for future generations." Host Laurie Barkman sits down with Jennifer Wilson, founder of Oak Bay Coaching and Consulting and former CEO of the Canada Homestay Network — a family business her mother started in 1995 from a bed and breakfast in Toronto that has since placed over 100,000 international students across Canada.
Jennifer joined the company as an accidental second-generation leader, grew into the CEO role after completing her MBA, and spent 17 years building the organization before transitioning to chair in 2022.
She built a co-CEO structure, created a board of directors from scratch, and navigated a partial management buyout — all while keeping the family intact. Here's how she did it.
Key Insights
- The CEO handoff is as much symbolic as it is structural. Jennifer's mother passed her a vintage recipe box — the company's original "analog database" — in front of the entire team at a company retreat. That moment publicly transferred authority and gave the whole organization clarity about who was leading. Succession isn't just paperwork — it's a signal.
- A co-CEO structure can work — but only under two conditions. Different skill sets and clearly separated accountabilities are non-negotiable. Jennifer hired an HR consultant who specializes in co-CEO models, created distinct strategic plan line items for each CEO, and built separate performance reviews. When both conditions are met, both leaders say they wouldn't want to do it alone.
- Leadership succession and ownership transition are not the same thing — and confusing them is costly. Jennifer separated the two processes deliberately. She transitioned leadership years before she transitioned ownership, and treating them as distinct conversations gave the family time to think clearly about equity, estate planning, and sibling fairness without the pressure of an operational handover happening simultaneously.
- Give your successors enough time. Jennifer gave her two internal candidates 18 months of lead time before officially stepping back. That window allowed for trust-building, task delegation, and honest conversations about whether each person actually wanted the role. One of them said no — and that was crucial information to have before the transition, not after.
- Family-to-management buyouts require a mind shift, not just a legal agreement. The reframe that unlocked Jennifer's MBO: instead of "they're paying for the business with our revenue," think "we sold it on day one and they're paying us back." That shift changes the emotional dynamic — and the 80/20 split they landed on was driven in part by Canadian tax thresholds that required each buyer to hold over 10% equity.
Chapters:
- 00:04 Introduction of Jennifer Wilson
- 02:08 Origin Story: How Canada Homestay Network Began
- 04:30 Jennifer's Unexpected Path Into the Family Business
- 07:12 Flash Forward: When Succession Conversations Started
- 08:40 The Recipe Box Ceremony: A Symbolic Handoff
- 09:36 The Trio: Running the Business as a Family Team
- 12:00 Deciding to Think About Her Own Succession
- 13:12 Building a Self-Managed Organization
- 16:05 Identifying and Developing Internal Successor Candidates
- 18:24 The Big Reveal: A Co-CEO Structure
- 18:53 How the Co-CEO Model Works in Practice
- 21:15 Governance: Building a Board and Separating Strategic vs. Operational Plans
- 24:28 Pitfalls and What Went Wrong: When One Candidate Said No
- 25:21 COVID: Laying Off 100 People in Six Months
- 29:01 Ownership Transition vs. Leadership Succession
- 29:37 Equity, Estate Planning, and Sibling Fairness
- 38:17 The Management Buyout: How the 80/20 Split Was Determined
- 40:23 Top Takeaways for Founders and Next-Gen Leaders
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
📘 The Business Transition Handbook by Laurie Barkman — grab your copy at lauriebarkman.me/book or search on Amazon.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Jennifer Wilson: Website: oakbaycoachingandconsulting.ca LinkedIn: https://www.linkedin.com/in/jenniferrobinwilson Email: jennifer@oakbaycoachingandconsulting.ca
"There's a time when an exit is going to be inevitable — there may not be a time certain, but there is a time." Host Laurie Barkman reunites with Chip Scholz, founder of Scholz and Associates and author of Small Decisions, Big Shifts and the upcoming Handoffs, for a deeply personal and insightful conversation about the hidden leadership mistakes that quietly destroy business succession plans.
Chip has spent nearly 30 years coaching executives and family business leaders through some of the most complex transitions in business — and he first met Laurie 13 years ago when she was a CEO candidate in a third-generation family business. Together they explore what great leadership evaluation looks like, why founders hold on too long, how hubris silently collapses delegation and decision-making, and the three stages every leader goes through on the road to retirement. Chip shares what he's learned — and what he's still learning — about the small decisions that ultimately create the biggest shifts.
Key Insights
- Culture fit is the foundation of every great leadership hire. The best organizations are people-oriented and performance-driven — in that order. When performance leads and people follow, bad things happen. Every hire, especially at the CEO level, should be evaluated through three lenses: strengths, motivations, and fit.
- Viewing the business as an asset — not a legacy — is what makes a clean exit possible. Founders who treat their company as an asset can make clear-headed decisions about growth, transition, and sale. Those who treat it purely as a legacy often hold on too long, stall the next generation, and turn what was once a strength into a bottleneck.
- Hubris is the silent killer of succession. When leaders believe they are the only ones who can run the business, delegation collapses, decision-making centralizes, and the organization becomes dependent on one person. Chip has seen companies where no one could spend $100 without CEO approval — and half the leadership team couldn't survive the transition when that CEO finally left.
- Retirement has three stages — and most founders only plan for the first one. Vacation, depression, and meaning and purpose. The honeymoon phase fades fast. Founders who haven't built outside interests, hobbies, or identity beyond the business hit a wall — and without a plan, depression follows. The goal is to reach meaning and purpose before a crisis forces the issue.
- Crisis is often the catalyst for transition — but it doesn't have to be. Whether it's a health scare, a lost client, or a market shift, crises force the introspection that should have happened years earlier. Chip advocates for doing that work proactively — in your 50s or early 60s — before external pressure removes your options.
- A hobby isn't a luxury — it's a succession strategy. Finding something outside the business that gives you purpose, community, and a sense of leadership is one of the most practical things a founder can do to prepare for transition. For Chip, it's woodturning. The point isn't the craft — it's the identity that lives outside the company.
Chapters:
00:00 Introduction of Chip Scholz
02:26 Reconnecting After 13 Years — A Personal Story
03:02 Leadership Evaluation: Strengths, Motivations, and Fit
06:37 Family Business Succession: Common Challenges
07:33 Asset vs. Legacy — The Mindset That Changes Everything
12:16 The Third-Generation Company: A Shared Story
14:04 Phantom Stock and Making 100 People Millionaires
16:00 The Five C's Framework for Leadership
17:42 Why Letting Go Is So Emotionally Hard
18:11 Hubris and Delegation: When Founders Won't Step Back
20:14 The $100 Approval Story
21:50 Why "Retirement" Triggers an Allergic Reaction
22:25 The Three Stages of Retirement
23:34 15 Years Preparing for Retirement — A Coaching Story
24:52 The Real Risk of the Depression Phase
26:44 What Does Retirement Really Mean?
29:33 Finding Purpose Outside Work: Woodturning
30:51 Handoffs — The Upcoming Book
35:02 Three Takeaways for Every Business Owner
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Chip Scholz: Website: https://scholzandassociates.com LinkedIn: https://www.linkedin.com/in/chipscholz
"Don't just sit there and coast along thinking your financial prowess is going to win the day." Host Laurie Barkman sits down with Susan Latremoille, Founder of Next Chapter Lifestyle Advisors, and discusses the retirement myth and the conversation that the advisors are missing. Susan spent nearly four decades in financial services watching well-prepared clients fall apart emotionally after selling their businesses — and watching their assets walk out the door with them. After losing a $100 million client post-transaction to the bank that handled the deal, Susan pivoted her entire career to answer the question the financial services industry had been avoiding: what happens to your client — and your relationship — after the money lands? Laurie and Susan unpack the ugly myth of retirement, the factors affecting exit regrets, and exactly how financial advisors can turn this gap into their greatest differentiator.
Key Insights
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The Hollywood version of retirement is a myth — and your clients believe it. The idea that selling the business means sailing off into unlimited golf, travel, and happiness is exactly the opposite of what many business owners actually experience. The sooner advisors challenge this narrative, the better positioned they are to serve their clients.
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75% of business owners regret exiting within the first year. This figure has been consistent across surveys since 2013. It points directly to a planning gap that advisors are uniquely positioned to fill — if they're willing to have the harder conversation.
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The conversation about identity and purpose is not "soft" — it's the most critical planning work an advisor can do. When a founder exits, they don't just lose a company — they lose their social circle, their daily structure, their title, and their reason to get up in the morning. Laurie and Susan emphasize that advisors should stop dismissing this as someone else's job and start treating it as a core part of the transition conversation.
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Silence on the personal side has real, measurable consequences. The aftermath of an unplanned exit can show up as depression, broken marriages, health decline, and worse. This key message to advisors is clear: you are in the room, you have the relationship, and you have the responsibility to ask the harder questions — not just review the portfolio. The higher the achiever sitting across from you, the more they need someone to have that conversation with them.
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A $100 million wake-up call: the relationship ends at the transaction if you're not in the room. Susan lost her biggest client the day he sold his company because she had no role beyond managing his retirement money. Advisors who aren't engaged in the personal planning conversation have no seat at the table — and no leverage to retain assets after a liquidity event.
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Up to 80% of business owners change financial advisors within one year of a liquidity event. The advisors who survive that window are the ones who went beyond portfolio management and helped their clients build a life plan that outlasted the deal. This is the next frontier for advisor differentiation — and AI is accelerating the timeline.
Chapters:
00:00 - Introduction of Susan Latremoille
01:40 - The Retirement Myth
02:21 - Bucket List vs. A Real Plan
03:00 - The Ugly Truth About Retirement
06:25 - Personal Planning to Avoid Exit Regrets
07:31 - The Four Core Losses After Exit
12:41 - The Five Consequences of an Unplanned Exit
15:29 - Personal Transition Process and Coping with Exit Regrets
20:09 - The Financial Implications of Exit Regret
20:46 - When Should These Conversations Start?
23:24 - The $100M Lesson: What Susan Lost and Why
25:51 - How Financial Advisors Can Stay in the Relationship
26:28 - Why Early and Consistent Transition Conversations Matter
27:31 - The Financial Advisor's Role Is Shifting
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Susan Latremoille:
Website: https://nextchapterlifestyleadvisors.com
LinkedIn: https://www.linkedin.com/in/susanlatremoille
Email: Susan@nextchapterlifestyleadvisors.com
📣 Write a Podcast Review: ratethispodcast.com/successionstories
📖 Grab a copy of The Business Transition Handbook, go to https://lauriebarkman.me/book or search in Amazon.
This Show Is Sponsored by The Business Transition Sherpa® Learn what every entrepreneur needs to know about building value and avoiding pitfalls!
"Don't do what you think the world needs, do what makes you come alive." Most entrepreneurs sitting on decades of hard-won expertise have no idea that knowledge alone could be their next business. James Allen is the founder of Profit Your Knowledge, a platform helping coaches, creators, and experts turn what they know into scalable, freedom-based online businesses. He left a six-figure union construction career at 22 with no roadmap, just a belief that he'd only make money doing things he enjoyed. James shares the frameworks, mindset shifts, and practical systems behind monetizing expertise and why this conversation matters deeply for founders thinking about what comes after their current chapter.
Key Insights
- The Expert Paradox is real — and it's costing you. The more qualified you are to solve a problem, the less impressive it feels to you. What seems ordinary to you could be exactly what someone else is desperate to learn and willing to pay for.
- Use the Income Intersection Framework to find your profitable idea. The sweet spot lives at the intersection of three things: something you have experience with, something people are actively paying money to learn, and something you genuinely enjoy teaching. All three must be present.
- You can't figure out your niche in your head — you have to talk to people. Worksheets and solo brainstorming only go so far. Real clarity comes from getting into conversations, working with people, and discovering who energizes you and who doesn't.
- Charge for outcomes, not hours. Packaging your expertise into a high-value offer — rather than selling single sessions — is what creates both income and freedom. One $10,000 client beats a hundred $100 sessions every time.
- YouTube is the most leveraged long-term system for coaches and experts. Consistent, niche-specific content compounds over time, brings the right people to you, and converts viewers into paying clients — even at 12 subscribers and 17 videos.
- Your next chapter doesn't have to be a cold stop. For founders stepping back from their current business, monetizing expertise creates a natural on-ramp to what's next — a way to stay alive, relevant, and financially active without starting from zero.
Chapters:
00:00 - 01:35 - Introduction and James's Origin Story
02:20 - 03:28 - Growing Up, Personal Development
03:29 - 05:30 - Leaving Construction & Taking the Leap
05:55 - 08:02 - The Knowledge Monetization and The Expert Paradox
08:03 - 09:10 - You're Undervaluing What You Know
09:11 - 10:38 - Real Client Stories: Landing a deal even with 12 videos
11:25 - 16:49 - Building a Business & Finding Your Niche
16:50 - 17:50 - Time Saving & Creating Your Own Process
17:51 - 25:10 - Systems and Pricing: How to Work Less and Earn More
25:37 - 26:20 - The On-Ramp/Off-Ramp for Founders Eyeing Their Next Chapter
26:21 - 27:38 - Rapid Fire: Books, Tools, Mistakes, and Best Advice
27:39 - 29:16 - What Succession Means to James Allen
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with James Allen: Website: profityourknowledge.com YouTube: @ProfitYourKnowledge Email: james@profityourknowledge.com 📖 Get your FREE digital copy of The Business Transition Handbook https://lauriebarkman.me/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
This Show Is Sponsored by The Business Transition Sherpa® Learn what every entrepreneur needs to know about building value and avoiding pitfalls!
"Exit planning is good business, not just about exits. Doing exit planning is going to help your business today." Too many founder CEOs pour years into scaling their company without ever building a plan for what comes next — and it costs them. Bruce Eckfeldt is a former Inc. 500 CEO who scaled, led, and exited his own company, and now coaches founder CEOs to do the same with intention. He faced the reality of an unplanned post-exit life firsthand — and what he discovered changed how he coaches everyone who comes after him.
Key Insights:
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Exit planning improves your business today, not just at the finish line. Treating your business as if it could be sold tomorrow forces clarity in strategy, leadership, and operations — giving you a stronger company whether you sell or not.
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Develop a compelling post-exit vision first. When founders have a clear, exciting plan for what comes after, they become more motivated to grow faster, set tighter timelines, and make better decisions leading up to a transaction.
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Founder dependency in sales is the riskiest — and hardest — constraint to break. When the founder is the rainmaker, it suppresses valuation, complicates deals, and is fueled by a dopamine cycle that's genuinely difficult to step away from.
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Institutional knowledge must replace individual knowledge to scale. Brilliant technical founders often are the smartest person in the room — but a company built around one person's intellect cannot scale or transact at full value.
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Know where you fall in the valuation range — and move the levers. The market sets the multiple range; what you can control is whether you land in the bottom, middle, or top third of it by addressing the fundamentals buyers care about most.
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The "keep-sell posture" protects your negotiating power. Being genuinely ready to either sell tomorrow or hold for another decade removes desperation from the table and ensures you're choosing the right deal — not just the first one.
Chapters
00:00 - 01:51 Introductions
01:52 - 05:24 Bruce's Founder Journey as Inc. 500 CEO
05:25 - 06:48 The Architectural Thinking Behind Scaling a Company
06:49 - 08:04 Why Scale and Exit Planning Are Connected from Day One
08:05 - 09:25 Building a Post-Exit Vision That Motivates Faster Growth
09:26 - 10:51 Founder's Identity and System Building
10:52 -12:30 Founder Dependency: The Sales Dopamine Trap
12:31 - 14:46 When Intellectual Capital Is Trapped in the Founder's Head
15:22 - 18:56 Exit Readiness and Push & Pull Factors across Generations
18:57 - 21:19 Legacy Building
21:20 - 24:33 What makes a Business Valuable
24:45 - 25:45 Bruce's Three Takeaways for Every Founder
26:00 - 26:36 Life After Exit: Himalayas, Adventure, and What Comes Next
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Bruce Eckfeldt Website: https://www.eckfeldt.com Email: bruce@eckfeldt.com LinkedIn: http://www.linkedin.com/in/beckfeldt 📣 Write a Podcast Review: ratethispodcast.com/successionstories
This Show Is Sponsored by The Business Transition Sherpa® Learn what every entrepreneur needs to know about building value and avoiding pitfalls!
"The day you start your business, you should know your exit strategy." Host Laurie Barkman sits down with Amy Veltri, Co-Founder and CEO of NGE, an environmental and geotechnical engineering firm. Amy built the company with her brother nearly 20 years ago, and made the deliberate choice to transition to 100% employee ownership through an ESOP. Amy shares the personal journey of weighing a third-party sale, doing nothing, or choosing a path that protected the people who helped build the business.
Celebrating 6 Years of Succession Stories
This episode is part of a special milestone—celebrating 6 years of the Succession Stories Podcast. Thank you for being part of this journey, where we explore the real stories, decisions, and strategies behind building, transitioning, and exiting businesses.
This episode was filmed in front of a live studio audience in partnership with the Exit Planning Institute Pittsburgh Chapter, bringing the conversation to life with an engaged community of advisors and business owners.
Key Episode Insights
- Co-founding a business with a sibling requires clear operating agreements to protect both the relationship and the company
- Drive may be an innate entrepreneurial trait, but skills like communication and judgment can be learned
- Knowing your exit strategy from day one shapes how you build and grow your business
- An ESOP can be financially compelling — tax savings alone can nearly offset transaction costs
- Employees who become owners are motivated to grow company value for themselves and future colleagues
- Leadership succession planning requires intentionality — and starting the search early enough to find the right fit
CHAPTERS 00:00 Introduction and the Entrepreneurial Gene
02:00 Co-Founding NGE with Her Brother — and Making It Work
08:00 Scaling from $50K to $5M in Five Years
09:15 Challenges when scaling the business
11:30 The Three Exit Options for a Service-Based Business
14:00 Why a Near-Closing Third-Party Sale Changed Everything
15:30 Understanding ESOPs and the Feasibility Study Process
17:00 The ESOP Magic — Tax Benefits and Employee Engagement
21:00 Leadership Succession and the Search for Amy's Replacement
22:25 What's Next: Retiring, Grandbabies, and Letting Go
Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next.
https://btsherpa.com/succession
P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Amy Veltri: Website: https://www.ngeconsulting.com
Email: aveltri@ngeconsulting.com
"Profitability rewards the founder. Transferability rewards the future." In many founder-led businesses — especially those under $10 million — the owner is the strategy, the rainmaker, and the decision-maker. But what happens when the business can't operate without you?
In this episode of Succession Stories, Laurie Barkman is joined by Steve Preda, Founder, Summit OS Group, to explore the role of structural capital in succession planning and exit readiness. They unpack the difference between building a profitable business and building a transferable one — and why reducing owner dependence is critical to increasing enterprise value.
You'll learn:
- What structural capital really means for small, founder-led companies
- Why being indispensable can hurt your exit strategy
- The early warning signs that your business is too owner-centric
- How to build leadership, systems, and processes that increase valuation
- Why succession planning should start long before you're ready to exit
Whether you're actively planning a business exit or simply want more freedom as a founder, this conversation will help you shift from operator to architect — and build a company that thrives beyond you.
Because succession isn't an event. It's a design decision.
This Show Is Sponsored by The Business Transition Sherpa®
Learn what every entrepreneur needs to know about building value and avoiding pitfalls! 📖 Get your FREE digital copy of The Business Transition Handbook https://lauriebarkman.me/book 📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Steve Preda: Website: https://stevepreda.com
LinkedIn: https://www.linkedin.com/in/stevepreda/
"No one's promised tomorrow." Host Laurie Barkman talks with Scott Arden, Chairman of Controllers Ltd and Managing Partner of Generational Wealth Solutions, about the intricacies of financial strategies for business owners. Controllers Limited focuses on advanced strategies for asset protection and generational wealth.
Focusing on growth, succession planning, and the importance of legacy, Scott emphasizes the need for business owners to prepare for transitions, whether through exit strategies or succession planning, and highlights the significance of teaching financial literacy to future generations. The conversation also touches on the psychological aspects of business ownership and the value of experiences over mere accumulation of wealth.
Key Insights
- Business owners often procrastinate on succession planning due to a false sense of security.
- Crucial to identify who will run the business in case of an owner's incapacitation.
- Protecting asset value can be as important as building asset value.
- Experiences and memories may be more valuable than simply accumulating wealth.
- Financial literacy is essential for future generations to manage inherited wealth.
- Engage the next generation in business operations or governance.
Chapters
00:00 Introduction to Financial Strategies for Business Owners
02:35 Understanding Business Growth and Exit Strategies
05:28 The Importance of Succession Planning
10:30 Psychology of Business Transition and Legacy
14:34 Rethinking Wealth: Experiences Over Accumulation
17:19 Teaching Financial Literacy to Future Generations
This Show Is Sponsored by The Business Transition Sherpa®
Learn what every entrepreneur needs to know about building value and avoiding pitfalls! 📖 Get your FREE digital copy of The Business Transition Handbook https://lauriebarkman.me/book 📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Scott Arden: Website: https://generationalwealthsystems.com/
Website: https://www.controllersltd.com/
LinkedIn: https://www.linkedin.com/in/scottarden/
🎙️ Business growth and succession planning start long before an exit. In this special Succession Stories swapcast, Laurie Barkman introduces the B.U.I.L.T.™ Method, a practical framework for building value and preparing for business transition.
🔓 This episode features Laurie's guest appearance on The B2B Growth Podcast with Mark Osborne, where the mic is turned around and she shares the thinking behind the B.U.I.L.T.™ Method for Business Growth and Transition. Designed for founder-led and closely held companies, the framework helps owners reduce dependency on themselves, strengthen operations, and prepare for leadership transition or exit — on their terms.
🎯 This conversation is especially relevant for owners in the built environment, including construction, engineering, architecture, and related professional services, where complexity, people, and relationships make transition planning both critical and challenging.
📊 The B.U.I.L.T. Method explained…
- Why succession planning should be integrated into business growth
- How the B.U.I.L.T. Method helps build transferable enterprise value
- Common transition challenges for built-environment companies
- How owners can prepare for what's next without rushing an exit
💬 Standout insight: "Gen X business owners have seen what happens when owners never step away — and we want something better." - Laurie Barkman
🧭 If you're thinking about business growth, succession, or transition planning, this episode offers a clear, structured approach to building a stronger, more resilient company — long before an exit is on the table.
This Show Is Sponsored by The Business Transition Sherpa®
Learn what every entrepreneur needs to know about building value and avoiding pitfalls! 📖 Get your FREE digital copy of The Business Transition Handbook https://lauriebarkman.me/book 📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa
In this episode, Laurie Barkman is joined by Dr. Brianna Rhue, optometrist, entrepreneur, and co-founder of Dr Contact Lens. Brianna shares her journey from a private practice owner to a tech maven, driven by the need to solve a critical "leaky bucket" problem: doctors losing contact lens sales to online retailers. She discusses the "entrepreneurial gene", the power of a "chip on your shoulder", and the lessons learned in building a full-blown tech platform from scratch. 💬 Quote from Brianna: "You have to get a really thick skin... as an entrepreneur, you are going to pave roads and you're gonna get arrows shot at your back. You're gonna get knocked off, you're gonna get made fun of... And if you don't have that core belief in yourself of your why, it makes those days really, really hard."
Key Takeaways: 💡 How the "entrepreneurial gene" is planted by early exposure to risk and observing the "ups and downs". 👥 Why a "chip on your shoulder," often formed from childhood experiences, can be essential energy for an entrepreneur. 💰 The steep transition from medicine to tech, and learning a new language of SaaS, CAC (Customer Acquisition Cost), and LTV (Lifetime Value). 🏦 How Doctor Contact Lens solves the "leaky bucket" problem of doctors losing recurring revenue to online retailers. 🤝 Brianna's "Three Frogs" method for daily productivity: one joy, one easy, and one hard task to move the business forward. 🎧 Tune in to Succession Stories to learn how to identify a major pain point in your industry and build a tech solution to solve it.
This Show Is Sponsored by The Business Transition Sherpa®
Learn what every entrepreneur needs to know about building value and avoiding pitfalls! 📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book 📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Laurie Barkman: Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa Connect with Dr. Brianna Rhue: LinkedIn: https://www.linkedin.com/in/briannarhue
🎧 Tune in to learn the realities of entrepreneurship through acquisition, from the search process to surviving economic uncertainty in the first year.
Laurie Barkman sits down with Aashay Kumar, owner of Tri-Form, Inc. Aashay shares his story of leaving a corporate career to buy an existing manufacturing business. He demystifies the process of entrepreneurship through acquisition. Listen in as Aashay reflects on his acquisition journey including stealth search process, securing an SBA loan, diligence misses, and the ups and downs of the first 15 months of ownership. 💬Quote from Aashay Kumar: "Take the approach of being a learner from day one. Always ask questions. Always do more research than you think you have to, and be humble throughout the process." ________________________________________________________________________ Key Takeaways: 💡 Why buy vs. start: The value of buying a business with positive cash flow, especially if you don't have a specific problem you are trying to solve. 👥 Independent search vs. search fund: Why Aashay chose an independent path to maintain full ownership and control, rather than being diluted by a search fund. 💰 How to finance the deal: A look at navigating SBA loans, negotiating with multiple banks, and using a seller financing note to structure the deal. 🏦 The diligence "misses" to watch for: Aashay shares what he overlooked, including the condition of the building and smaller assets like a company truck. 🤝 "Fit first, financials second": Why the cultural fit and relationship with the prior owners (and their family members in the business) was a critical, non-negotiable part of the deal.
This Show Is Sponsored by The Business Transition Sherpa®
Learn what every entrepreneur needs to know about building value and avoiding pitfalls! 📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book 📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Aashay Kumar: LinkedIn: www.linkedin.com/in/aashaykumar
LinkedIn: https://www.linkedin.com/company/tri-form-inc/
What does it take to finance a business transition or acquisition? In this episode, Laurie Barkman sits down with David Miller, Executive Vice President at Enterprise Bank, to demystify lending for business owners — from SBA loans to insider buyouts.
David shares how banks assess deals, why management continuity matters most, and how entrepreneurs can become "bankable" when it's time to grow or exit.
💬 Quote from David Miller:
"Don't think you can't buy a business just because you're not personally wealthy. If you have the right skillset and knowledge of the industry, there are flexible ways to make it happen."
Key Takeaways:
💡 How SBA loans act as an "insurance policy" for banks — and a growth tool for small businesses.
👥 Why insider buyouts often outperform private equity or third-party acquisitions.
💰 How to match financing structures to your business goals and cash flow needs.
🏦 What "being bankable" really means — and how to build it before you need it.
🤝 Why having the right professional team (CPA, attorney, advisor) is critical in any business transition.
🎧 Tune in to Succession Stories to learn practical strategies for financing growth, buying a business, or preparing for your own successful exit.
This Show Is Sponsored by The Business Transition Sherpa® Get your copy of The Business Transition Handbook, the Amazon best-selling book that reveals what every entrepreneur needs to know about building value and avoiding pitfalls! ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with David Miller: Website: https://www.enterprisebankpgh.com/ LinkedIn: /in/david-miller-0b668386/ Special thanks to Ryan Nolf, Marketing Director, for producing this Succession Stories episode live in studio at Enterprise Marketing.
Host Laurie Barkman welcomes Brandon Stanchock, CEO of SWF Industrial Inc. Brandon discusses his journey to take the helm of a family business. He emphasizes the importance of leadership, employee development, and implementing innovative collaboration strategies in the industrial sector. The conversation also highlights Brandon's commitment to providing support for employees and internal promotion programs. Brandon shares how his personal interests in travel, gaming, and podcasting align with his broader mission to help people reach their full potential both inside and outside the workplace.
Takeaways:
- Embrace the entrepreneurial gene. Leadership, innovation, and employee development are key traits for entrepreneurial success.
- Navigating leadership challenges. Leading a family business requires adaptability and a focus on collaboration to drive growth.
- Support employee growth. Providing support and promoting from within strengthens company culture and fosters employee loyalty.
- Focus on performance management and succession planning. Proper planning ensures long-term success for both leadership and employees.
- Align personal passions with business goals. Staying connected to passions like travel, gaming, and podcasting helps balance professional and personal growth.
Quote of the Show:
- " Give yourself some grace, give yourself some time." - Brandon Stanchock
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Brandon Stanchock: LinkedIn: https://www.linkedin.com/in/brandonstanchock/
Company website: https://www.swfindustrial.com/
Host Laurie Barkman welcomes Larry Whiteside Jr., an expert in information security, risk management, and entrepreneurship. Larry discusses his journey from cybersecurity to becoming the Co-Owner of Lifesaver Pool Fence of Tampa and Co-Founder of Confide.
Larry emphasizes the importance of passion, operational efficiency, and overcoming challenges in business. They delve into key trends in cybersecurity, focusing on AI and automation's growing influence. The conversation also highlights Larry's commitment to promoting diversity in the cybersecurity field and how his military background has shaped his entrepreneurial approach. He offers valuable insights on balancing multiple businesses, aligning passion with business ventures, and prioritizing strategic operational planning.
Takeaways:
- Embrace the entrepreneurial gene. Outgoingness and exceptional storytelling are key traits for entrepreneurial success. Connecting with others and communicating your vision is essential.
- Navigating the transition to entrepreneurship. Financial instability and operational hurdles are common, but with perseverance and support from trusted partners, you can overcome these challenges.
- Promote diversity in your industry. Larry emphasizes the importance of fostering diversity in cybersecurity and encourages entrepreneurs to create more inclusive environments.
- Align passion with your business ventures. Staying connected to your passion helps maintain drive and resilience, especially during tough times.
- Focus on systemic operational planning. Managing multiple businesses requires trust in yourself and a strong commitment to strategic planning to ensure everything runs smoothly.
Quote of the Show:
- "Passion will continue to drive you forward." - Larry Whiteside Jr.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Larry Whiteside Jr.: LinkedIn: https://www.linkedin.com/in/larrywhitesidejr/
Company website: https://www.confide.group/
“ Treat people well, work hard, have a plan.” Host Laurie Barkman welcomes Travis Howerton, a technology and security expert with over 25 years of experience. Travis shares his journey from federal service and the nuclear weapons program to becoming the Co-Founder and CEO of RegScale.
They discuss the entrepreneurial gene, personality assessments in team dynamics, and the challenges of scaling a business. Travis emphasizes the importance of empathy, hard work, and strategic planning. He also highlights the potential of automation and AI in the compliance industry. Travis discusses his future goals of starting a venture capital arm to support aspiring entrepreneurs in East Tennessee and provides advice on problem-solving and growth. The conversation provides valuable insights for entrepreneurs navigating the complexities of building and scaling a business.
Takeaways:
- Embrace risk-taking and innovation as key traits for entrepreneurial success. Cultivating a mindset that encourages experimentation and learning from failure can drive growth and open doors to new opportunities.
- Use personality assessments to enhance team collaboration. Understanding individual motivations and strengths helps build a more cohesive and effective team, ultimately contributing to a healthier company culture.
- Be prepared for the challenges of scaling a business. Focus on creating clear plans and strategies to navigate obstacles while emphasizing empathy and hard work to keep the team aligned and motivated.
- Consider giving back by supporting future entrepreneurs. Starting a venture capital arm or mentoring new talent can create a positive impact on your local community and contribute to the growth of the next generation of leaders.
Quote of the Show:
- “Treat people well, work hard, have a plan.” - Travis Howerton
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Travis Howerton: LinkedIn: https://www.linkedin.com/in/travishowerton/
Company website: https://regscale.com/
“ Don't be a jack of all social media sites, master of none.” Host Laurie Barkman interviews digital marketing expert Corey Perlman of Impact Social. They discuss Corey's entrepreneurial journey influenced by his parents' careers, the evolving landscape of digital marketing, and the role and potential of AI in the industry. Corey shares insights on building and managing successful teams, the importance of focusing on key social media platforms, and the power of video content. Additionally, he touches on his passion for Brazilian Jiu Jitsu and his involvement in the Nurturing Fathers Program alongside his father, Mark. Listeners receive actionable digital marketing tips and inspiration for balancing entrepreneurship with personal purpose.
Takeaways:
- Pay attention to what the market is asking for. Follow positive signals when exploring new business opportunities or services instead of pushing an idea that isn't gaining traction.
- Prioritize platforms that align with your target demographics instead of attempting to be active on all social media platforms. Focus on a few and do them exceptionally well.
- Focus on the emotional and cultural fit of potential team members rather than just their resume. Enthusiasm, a positive attitude, and a good cultural fit can often outweigh experience.
- Stay open to learning and adapting over time. The industry changes rapidly, and keeping updated with new tools and practices will help you and your business stay competitive.
Quote of the Show:
- “ Don't be a jack of all social media sites, master of none.” - Corey Perlman
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Corey Perlman: LinkedIn: https://www.linkedin.com/in/coreyperlman/
Website: https://impactsocialmedia.com/
“We’re in the business of making people happy!” John and Mark X. Cronin are father-son co-founders of John’s Crazy Socks. Host Laurie Barkman talks with John and Mark about the inspiring story of their unique business model, inclusion, and commitment to spreading happiness. Over half of their employees have differing abilities.
The discussion covers innovative approaches to customer satisfaction, success metrics, notable initiatives like the Unity Sock, and their role as advocates for people with disabilities. The episode also touches on their engaging community activities such as the weekly dance party and custom sock designs. Mark and John highlight the profound impact entrepreneurship can have on individuals and communities.
Takeaways:
- Focus on the positive impact your business can have in the community. A strong mission can differentiate your offerings from competitors.
- Know why you are in business and ensure your values are clear and driven through every action you take.
- Consider hiring people with different abilities. It can lead to better business practices and a highly motivated workforce.
- Engage with your customers on a personal level. Small touches like handwritten notes, added candies, and personalized messages can make a big difference.
Quote of the Show:
- “ The customer can be dead wrong, but we're not in the business of being right. We're in the business of making people happy.” - Mark Cronin
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with John's Crazy Socks: LinkedIn: https://www.linkedin.com/in/mxcronin/
Website: https://johnscrazysocks.com/
What’s the most important value to have when you’re running your own business? According to Molly McGrath, Founder of Hiring and Empowering Solutions, it’s accountability.
Listen in as Host Laurie Barkman talks with Molly about her unique perspective on the entrepreneur gene - a desire for control and freedom, stemming from an anti-authoritarian mindset. Molly highlights the importance of teaching employees to be intrapreneurs, involving them in decision-making processes, and implementing incentive-based compensation models. The episode also emphasizes the significance of accountability, time management, and having a clear vision for both personal and professional growth.
Takeaways:
- Make a list of tasks that drain your energy versus those that light you up. Use this list to create job descriptions and hire the right team members to take on these tasks.
- Establish a culture of accountability within your business. Hold daily huddles or weekly stakeholder meetings to discuss progress, challenges, and ideas.
- Provide employees with the resources and support needed to achieve their goals, fostering growth and fulfillment within your team.
- Begin planning your exit strategy early, so that you are prepared when the time comes for you to leave your business.
Quote of the Show:
- “ When you have a board of directors in your life that supports you and shines a flashlight on you, it really helps.” - Molly McGrath
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Molly McGrath: LinkedIn: https://www.linkedin.com/in/molly-hallmcgrath/
Website: https://hiringandempowering.com/
What does six generations of entrepreneurship get you? Find out as Host Laurie Barkman talks with Jim Haviland, Business Operating System Coach at Impact Architects and Chief Operating Officer at CallPlease.
Jim shares his insights on building and exiting organizations, the entrepreneurial gene, and the importance of exit planning. He discusses the significance of having a clear purpose, the necessity of mentors and operating systems, and offers advice on long-term planning for entrepreneurs. Tune in for valuable lessons and inspiration for both budding and experienced entrepreneurs.
Takeaways:
- Implementing a structured operating system can greatly enhance your business's efficiency and success rate. It helps you grow faster and minimizes the risk of business failure.
- Define what 'done' looks like for your projects. Be clear and specific about your objectives to ensure everyone in the organization is aligned.
- Regularly dedicate time to long-term planning. Consider both a 10-year and a 3-year horizon and actively work towards those goals.
- Aim to build a business that is not just profitable but also a valuable asset that can be transferred or sold in the future. This includes minimizing owner dependency and investing in aspects that increase business value.
Quote of the Show:
- “ If you want to build something that's really valuable, you can do that but you have to be serious about it. You don't just show up and punch the clock.” - Jim Haviland
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Jim Haviland: LinkedIn: https://www.linkedin.com/in/jimhaviland/
Website: https://www.impactarchitects.io/
“ It's really hard out there. Other people will beat you up. You don't have to do it to yourself.” - Jennifer Bisceglie
This week on The Entrepreneur Gene - a featured series of Succession Stories - Host Laurie Barkman talks with Jennifer Bisceglie, Founder and Executive Vice Chair of Interos.
Jennifer discusses the concept of identity for owners- as part of the business and outside of your company. She shares the challenges of managing a business that heavily relies on U.S. federal contracts and navigating rapid administrative changes.
Jennifer also talks about the impacts of AI on supply chain risk management, as well as the excitement to come within the field. Additionally, the episode highlights Jennifer’s advocacy for women in business and involvement with Women Impacting Public Policy International.
Tune in for insights into building a scalable and valuable business, handling unpredictability, and maintaining a balanced life.
Takeaways:
- Cultivate interests and activities outside your business to maintain a healthy work-life balance. This could include hobbies, family time, or community involvement.
- When the time is right, bringing in external leadership, such as a new CEO, can help scale your business. This allows you to focus on strategic aspects and areas where your expertise is most valuable.
- Clearly define your business's purpose and align your strategies to create value for your team and customers.
- Keep a broader perspective during challenging times. Identify what you can control and build resilience by focusing on these areas.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Jennifer Bisceglie: LinkedIn: https://www.linkedin.com/in/jennifer-bisceglie-3328b2/
Website: https://www.interos.ai/
“ The flip of one-to-one communication to a one-to-few communication is going to become priceless. It's all about connection.” - Casey Cheshire
What kinds of risks are the ones worth taking when it comes to entrepreneurship? Casey Cheshire, CEO of Ringmaster Conversational Marketing, believes smart risks are the key to success.
Host Laurie Barkman talks with Casey about the importance of risk tolerance, learning from failures, and the need for smart risk-taking in business. They also explore the future of marketing with the advent of AI and the significance of maintaining human connections in an increasingly automated world.
Casey's military background, personal entrepreneurial journey, and passion for authentic marketing strategies provide a rich and engaging discussion on what it truly means to be an entrepreneur.
Takeaways:
- Focus on creating meaningful relationships through various mediums to foster long-term success.
- View entrepreneurship as a muscle that can be developed with practice and effort. Engage in activities that build skills necessary for entrepreneurship, such as problem-solving and risk management.
- Take calculated, smart risks rather than reckless ones.
- Although challenging, niching down can lead to better targeting and business efficiency. Test narrow focuses to see if they drive better results without betting the farm.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Casey Cheshire: LinkedIn: in/caseycheshire
Website: ringmaster.com
“The big learning for me is leaning on your team, leaning on your network, leaning on your colleagues. Because you don't have the capacity to be thoughtful in all of these different areas.” - Christopher Antonopoulos
What does it take to be an entrepreneur? Christopher Antonopoulos, CEO and Founder of Measured Results Marketing, claims the secret is the genetic propensity and how it combines with environmental factors. Christopher shares anecdotes about his journey from a resourceful childhood selling vegetables to leading a successful marketing firm.
He and Laurie also discuss the future of marketing automation, the role of AI, and practical strategies for handling business uncertainties. Christopher offers insights into building effective teams, the importance of dealing with ambiguity, and leveraging networks for success. The episode is filled with valuable advice for entrepreneurs on embracing innovation and making impactful business decisions.
Takeaways:
- Cultivate confidence in your decisions and actions. Don't let fear of failure prevent you from taking calculated risks.
- Develop the ability to make decisions with incomplete information. Comfort with ambiguity and a willingness to navigate uncertain situations is crucial.
- Always be open to learning, whether through formal education, mentorship, or experimenting within your business.
- Strive for a 360-degree view of your customers. Use analytics and insights to tailor your products and services to their needs and preferences.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Christopher Antonopoulos: LinkedIn: https://www.linkedin.com/in/cantonopoulos/
Website: https://www.measuredresults.com/
“ When it's built with your own hands or with your own will, I felt like it was a little bit more of my own success than somebody else doing it for me.” - Matt Chiaradonna
Have you ever been thrown into running a business? Matt Chiaradonna, a family business entrepreneur leading JC Fence and Founder of Elite Technique sure has. Host Laurie Barkman talks with Matt about his journey from growing up in a family business, the impact of his father's tragic accident, and his path to operating two successful businesses.
He offers advice on developing leaders, balancing legacy, and finding purpose both within and outside the business. This episode delves into the importance of grit, mentorship, and strategic growth in entrepreneurship.
Takeaways:
- For entrepreneurs, establishing clear processes early on in the business can facilitate growth and make it easier to delegate tasks.
- Focus on identifying and nurturing potential leaders within the organization to drive future growth.
- Highlight the importance of traits such as determination, grit, and setting one's own destiny, which are prevalent in successful entrepreneurs.
- Emphasize the value of having a mentor who has successfully navigated similar challenges. This can provide guidance and insights that are pivotal for growth.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Podcast Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Matt Chiaradonna: LinkedIn: https://www.linkedin.com/in/matt-chiaradonna-0b9894339/
Website: https://www.getelitetechnique.com/
Website: https://www.jcfencenorthshore.com/
“ I followed what's in my heart and I’m moving forward to fill this gap and this need for the workplace of the future.” - Pete Schramm
Host Laurie Barkman interviews Pete Schramm, Founder and CEO of Lattitude. A serial entrepreneur, award-winning speaker, and bestselling author of Pathfinders, Pete is on a mission to foster meaningful, sustainable relationships in the workplace. As the founder of Lattitude, he’s cultivating leadership and engagement through career mapping and mentorship software.
The episode touches on challenges in the workplace, especially with hybrid and remote work environments. Pete also highlights the necessity of marketing, sales, and having a clear game plan in business while sharing his passion for connecting people and giving back through various nonprofits.
Takeaways:
- Focus on having a wonderful team around you to create enterprise value. Communication and intentional belonging are key to keeping the team aligned and motivated.
- Clearly and effectively communicate your game plan, start small with changes, but don't stop. Build trust and transparency with your team while managing change.
- Consider building a personal board of advisors to guide and support your entrepreneurial journey. Seek mentors who can provide diverse perspectives and insights.
- Regularly measure and understand the engagement, connection, and well-being of your team. Use tools like engagement surveys and share the results and planned actions.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Pete Schramm: LinkedIn: https://www.linkedin.com/in/pete-schramm/
Website: https://golattitude.com/
“I love giving voice to people who don't necessarily or historically have a voice with those who are selling to them.” - Cooper Munroe
Host Laurie Barkman speaks with Cooper Munroe, CEO of The Motherhood, a leading influencer marketing agency. They delve into Cooper's journey from corporate PR to creating The Motherhood, sparked from a blog post about Hurricane Katrina. Cooper discusses the unique challenges and attributes of women entrepreneurs, the evolution of influencer marketing, and her commitment to paying influencers for their valuable work. Tune in to hear how Cooper transformed her vision into a thriving business and what she envisions for the future legacy of The Motherhood.
Takeaways:
- Entrepreneurs should aim to find the balance between time and treasure early in their journey to avoid burnout and ensure the sustainability of their business.
- Work towards making your revenue stream more predictable. This can help in financial planning and provide stability for the business.
- Storytelling can be a powerful tool for connecting with your audience. Consider how your business can leverage storytelling to build a strong brand and engage customers.
- Always ensure that those contributing to your business, especially influencers and content creators, are fairly compensated for their work. This can foster loyalty and a positive working relationship.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Cooper Munroe: LinkedIn: https://www.linkedin.com/in/coopermunroe/
Website: https://www.themotherhood.com/
“Entrepreneurship is in everyone. It just gets expressed in different ways.” Luke Williams
Show host Laurie Barkman welcomes Luke Williams, Founder/CEO of IdeaSkills and Clinical Associate Professor of Innovation and Design at NYU Stern School of Business.
They discuss whether entrepreneurship can be taught and delve into the importance of fostering innovative mindsets within established companies. Luke shares insights from his book 'Disrupt' and discusses the balance between maintaining business continuity and introducing disruptive ideas.
Luke also emphasizes the significance of learning over investment and provides advice for business owners struggling with innovation. The episode concludes with Luke's journey from Australia to becoming an educator and innovation expert and his passion for creating more competent innovators.
Takeaways:
- Continuously work on developing the capabilities needed to be competitive in the future alongside keeping the existing business running. This is crucial for maintaining a balance between today’s needs and future opportunities.
- Create diverse teams to ensure a wide range of perspectives and ideas. This diversity can foster innovative thinking and help develop balanced solutions that might not emerge from a homogenous group.
- Encourage the influx of fresh, disruptive thinking and assess the value of ideas based on how much they help the organization learn and adapt.
- Develop a “test and learn” budget to experiment with new ideas without the pressure of immediate returns. Allow small-scale testing of innovative ideas to see what works and can then be scaled up.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Luke Williams:
LinkedIn: https://www.linkedin.com/in/lukegwilliams/
Website: https://www.youtube.com/@IdeaSkills
Book: https://www.amazon.com/Disrupt-Think-Unthinkable-Transformation-Business/dp/0137025149
“Simply treating people with respect, with dignity and agency, has been really counterculture and I hope that that becomes a more infectious and attractive way to work.” - Brea Starmer
Host Laurie Barkman interviews Brea Starmer, Founder and CEO of Lions and Tigers. Brea shares her experience of turning a layoff into a successful business, her passion for empowering careers for women and mothers, and the unique approach of intrapreneurship. The discussion covers Brea's personal journey, the challenges she faced, the importance of values in business, and the exciting future of the industry.
Takeaways:
- Hire support staff early on, such as operations and HR personnel, to allow you to focus on strategic areas like business development and leadership.
- Recognize the different stages of your business and life. Sometimes you’ll be optimized for growth and wealth, while at other times, the focus may shift to health and personal well-being.
- Maintain an active presence on professional networks such as LinkedIn to share your journey, connect with other entrepreneurs, and attract potential clients and employees.
- Concentrate on tasks that only you can do and delegate others. This ensures you are working on the most impactful areas of the business.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Brea Starmer: LinkedIn: https://www.linkedin.com/in/breastarmer/
Website: https://lionsandtigers.com/
“The really great exciting thing about entrepreneurship is even if you don't know from a young age that's the route you want to go, it's never too late to get there.” - Jaclyn Beatty
Show host Laurie Barkman interviews Jaclyn Beatty, a seasoned sales professional and Owner/Principal Consultant of Geared for Growth at Sales Xceleration. Jaclyn shares her non-traditional journey to entrepreneurship, emphasizing the importance of the entrepreneurial gene and the belief that entrepreneurs can be made, not just born.
They discuss the challenges of transitioning from a corporate sales leader to an entrepreneurial role and the benefits of the fractional sales industry. Jaclyn also provides advice to aspiring entrepreneurs and reflects on her career pivots from clinical dietitian to corporate sales leader.
Takeaways:
~Don't hesitate to pursue your entrepreneurial dreams sooner rather than later. If you feel ready, take the plunge and trust your instincts.
~Be willing to accept help and advice from others, whether it’s through peer groups, mentors, or industry experts. You don't have to be an expert in every area of your business.
~Don’t be afraid to pivot from one industry to another if you feel drawn to it. Skills are often transferable, and a fresh perspective can lead to new opportunities.
~Learn to manage wearing multiple hats in your business. Prioritize and balance client deliverables with business development and operational tasks.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Jaclyn Beatty: LinkedIn: https://www.linkedin.com/in/jaclynbeatty/ Website: https://salesxceleration.com/
“I'm guilty of having always had the feeling of being proud, but not satisfied with my accomplishments. Once I get to one goal, I’m ready to move on to the next.” - Harry Haywood
Host Laurie Barkman chats with Harry Haywood, President of HBS Solutions Inc. Harry shares insights on the importance of resilience, creativity, and overcoming criticism. With over 15 years of experience, he discusses the challenges of managing growth, building a strong leadership team, and the significance of time management. Harry also delves into his passion for energy efficiency and the evolving industry standards. Listeners will gain valuable advice on prioritization, goal tracking, and balancing business with personal life.
Takeaways:
~Learn to maximize your productivity by valuing your time more, especially if you don’t have many personal responsibilities early in your entrepreneurial journey.
~Don’t try to handle everything yourself. Document processes, assign responsibilities, and ensure checks and balances are in place. This helps in managing growth more efficiently.
~Use a systematic approach to track progress towards goals in various aspects of your life, not just business-related but also personal, physical, and spiritual.
~Implement systems and processes to manage the complexities of business operations. Utilize third-party or customized tools to align the team and streamline workflows.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Harry Haywood: LinkedIn: https://www.linkedin.com/in/harry-h-9969231b/ Website: https://www.hbssolutionsinc.com/
“The fundamental things are being incredibly optimistic, having the confidence to believe that not only is your idea a good idea, but that you can actually pull it off, and you have to have thick skin.” - Jessica Kenyon
Host Laurie Barkman interviews Jessica Kenyon, CEO of The Conafay Group. Jessica shares her thoughts on key entrepreneurial traits like optimism, confidence, and resilience.
The discussion covers her unconventional journey to leadership, having a background in archeology and a family of virologists, and how she transitioned into the government relations sector.
She also talks about the challenges of succession and leadership transition, emphasizing the importance of trusting your instincts and believing in your own decisions.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Jessica Kenyon:
LinkedIn: https://www.linkedin.com/in/jessica-kenyon-4557028-conafay/
Website: https://conafaygroup.com/
“Have the confidence to say, "I believe in my mission and my purpose, and no matter what is in front of me, I will overcome those obstacles.” - Dr. Harry Cohen
Host Laurie Barkman interviews Harry Cohen, President and CEO of Sunny Owl Productions and author of “Be the Sun, Not the Salt.”
Learn the essential traits that differentiate entrepreneurs— like the ability to tolerate risk and navigate ambiguity, and the significance of instilling an entrepreneurial culture in both large corporations and family-owned businesses by having positive energy in your leadership.
Catch Harry's advice how to foster kindness both in oneself and towards others.
Takeaways:
- To succeed, entrepreneurs must tolerate risk, ambiguity, and difficulty. Cultivate a belief in your mission and purpose, and maintain confidence that you will overcome obstacles.
- Aim to create a positive impact on those around you. Be the "sun" not the "salt" by fostering psychological safety and making people feel valued and motivated.
- Use rituals and positive self-talk to maintain a confident and optimistic mindset before key moments, like giving presentations or meeting with clients.
- Whether in a corporate or family-owned business, cultivating a supportive and innovative culture is crucial. Encourage risk-taking and learning from failures rather than punishing them.
This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
_________________________________________________________________ Connect with Laurie Barkman: Email: laurie@btsherpa.com LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa Connect with Harry Cohen:
LinkedIn: https://www.linkedin.com/in/harry-cohen-2594841/
Website: https://bethesunnotthesalt.com/
Welcome to The Entrepreneur Gene! Host Laurie Barkman dives into the fascinating world of aerospace with Aleksandra Bogunovic, CEO of AeroThreads. Aleks turned her passion for sewing and fabrication into a thriving business that creates thermal blankets for spacecraft with materials that literally go to space!
In this episode, we explore:
- Importance of grit in business.
- Aleks’ journey from working with NASA to founding AeroThreads.
- Challenges of leading a growing team in a rapidly evolving aerospace industry.
- Insights on maintaining company culture while scaling.
- Intersection of creativity and engineering in developing innovative solutions.
Aleks shares her personal story, the influence of her immigrant family, and how her background in arts and finance shaped her entrepreneurial path.
Whether you're an aspiring entrepreneur or simply curious about the aerospace industry, this episode is packed with inspiration and valuable insights!
Quote of the Show: “ Learn to trust your gut, even if you don't understand it.” - Aleksandra Bogunovic _________________________________________________________________ This Show is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you?
Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know. ✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book _________________________________________________________________
Connect with Laurie Barkman: LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Website: https://thebusinesstransitionsherpa.com/
Connect with Aleks: LinkedIn: https://www.linkedin.com/in/aleksandra-bogunovic-49493228/ AeroThreads: https://www.aerothreads.com/contact
You might have a buyer lined up — but that doesn’t mean your exit is guaranteed.
In this episode of Succession Stories, host Laurie Barkman sits down with Jim Carlisle , mergers and acquisitions attorney and chair of the National Growth and Exit Planning Group at Dinsmore & Shohl LLP. With decades of experience guiding business owners through transitions, Jim shares insider insights into why even well-prepared exits can fall apart — and what you can do to avoid common pitfalls - and why it's never too soon to start planning ahead.
This conversation is essential for entrepreneurs who want to ensure their hard work pays off, both financially and personally, when it’s time to move on.
💬 Quote of the Episode: "If you don't like how the table is set… overturn the table." — Jim Carlisle
Jim shares how this powerful mindset — borrowed from House of Cards — has shaped his approach to business deals and problem-solving. When things aren’t working, he encourages leaders to rethink, reinvent, and reset the rules — then march forward with confidence.
🔗 Resources Mentioned: * Email: Jim.carlisle@dinsmore.com * Mobile phone: 412-855-4333
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
This Show Is Sponsored by The Business Transition Sherpa®
📣 Write a Review: https://ratethispodcast.com/successionstories
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
In this episode of The Entrepreneur Gene, host Laurie Barkman sits down with Julie Broad, President of Book Launchers, to discuss the entrepreneurial mindset, key decisions, and challenges in business growth. Julie shares her journey from growing up in a highway-side motel in Alberta, Canada to becoming a successful entrepreneur, author, and real estate investor. She offers insights on the importance of problem-solving and risk-taking and how she self-published her first book. Julie also talks about harnessing AI in her business, transitioning her company from California to Nevada, and her passions for pickleball and poker. Takeaways: * Entrepreneurs should look for gaps in the market and opportunities where they can provide unique solutions. * When making strategic decisions, consult with your team. Their excitement and input can guide you toward the best opportunity to pursue next. * Have a vision for where you want your business to go in the next few years. Although long-term plans can change, having a direction helps in making aligned decisions. * Offering resources like a workbook or a guide, as Julie does with the seven steps to write a book, can help others and establish you as an authority in your field.
Quote of the Show: * “When somebody says, ‘That doesn't sound like a good idea.' I better go find out’.” - Julie Broad
Connect with Julie Broad: * LinkedIn: https://www.linkedin.com/in/juliebroad/ * Website: https://booklaunchers.com/ * Book Link: https://juliebroad.com/books/
Connect with Laurie Barkman: laurie@btsherpa.com ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book
📣 Write a Review: https://ratethispodcast.com/successionstories
This Show Is Sponsored by The Business Transition Sherpa® Website: https://thebusinesstransitionsherpa.com/ YouTube:
https://www.youtube.com/@TheBusinessTransitionSherpa
What happens when an entrepreneur faces massive failure — and how does that become their greatest asset?
In this powerful episode of Succession Stories, host Laurie Barkman sits down with Brian Marshall, a leadership coach and business advisor who has spent over 40 years guiding entrepreneurs through personal and professional transformation. Brian shares his own deeply personal journey — from launching his first business at age 20, to experiencing devastating loss and failure in 2008, and ultimately building a new life helping others find freedom through ownership of their story.
This conversation is raw, real, and filled with insights about:
- How failure can be the best teacher
- Why vulnerability isn’t weakness — it’s strength
- The importance of planning your exit long before you’re ready to leave
- And why owning your brokenness makes you a better leader
Whether you're facing a crossroads or just looking to lead more authentically, Brian’s story will challenge and inspire you to embrace your past — and shape your future — with courage.
💬 Quote of the Episode:
"Shame keeps entrepreneurs from talking about their real struggles. But hiding failure hurts more than it helps."
🔗 Resources Mentioned:
- Brian Marshall’s Website: https://optimumperformanceplatform.com/
- Connect with Brian on LinkedIn: https://www.linkedin.com/in/brianmarshall/
- Brian’s email: bmarshall@yourtgp.com
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
This Show Is Sponsored by The Business Transition Sherpa®
📣 Write a Review: https://ratethispodcast.com/successionstories
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“It's not just part of your personality to be a successful entrepreneur. It takes a lot more than just being a risk-taking delusional optimist.”
Laurie Barkman interviews Gregory Silvano, CEO of Buyist. Greg shares his entrepreneurial journey to founding his own companies, emphasizing resilience, optimism, and pure delusion. They discuss navigating risks, cash flow management in startups, and the strategic value of customer reviews. They also discuss the significant impact of AI across industries and the practicality of ‘good enough’ solutions in business operations. Greg also reflects on key entrepreneurial advice, long-term investment strategies, and maintaining physical health.
Takeaways:
~Cultivate optimism, risk-taking, and a bit of delusional belief in your business. These traits can help overcome challenges and setbacks.
~Explore and implement AI tools to improve efficiency in tasks such as SEO, content creation, and customer support. AI is transforming industries and being an early adopter can provide a competitive edge.
~Regularly review your finances to ensure healthy cash flow. Balance your spending, avoid overextending with debt, and build a financial buffer.
~Spend time on important tasks that drive the business forward. This includes strategic planning, marketing, and customer relationship management.
Connect with Greg Silvano:
LinkedIn: https://www.linkedin.com/in/buyist/
Website: https://buyist.com/
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
The Entrepreneur Gene is a Succession Stories series sponsored by The Business Transition Sherpa®
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More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
What happens when an entire executive team retires at once? How do you ensure leadership continuity, preserve company culture, and protect long-term value?
In this episode of Succession Stories, host Laurie Barkman sits down with Mark L. Vincent, founder of Design Group International and expert in process consulting and leadership transitions. Together, they explore how leaders can build organizations that thrive beyond their tenure — not just structurally, but emotionally and culturally.
Mark shares insights from his own journey leading a firm through succession planning after personal loss, and later transitioning out of his own role. He reveals the critical importance of emotional intelligence, peer-based advising, and intentional development of future leaders.
This conversation is essential for entrepreneurs, executives, and advisors who want to ensure their business doesn’t just survive — it continues to grow and reflect its original values long after the current leaders move on.
💬 Quote of the Episode:
"Firm with process and soft with people."
🔗 Resources Mentioned:
Connect with Mark Vincent: https://linktr.ee/marklvincent
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
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This Show Is Sponsored by The Business Transition Sherpa®
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“There's going to be times where people are going to doubt you and they might be envious of your success, but I think if you're tenacious and you believe in yourself, that'll get you a long way.” - Taylor Abbett
Host Laurie Barkman interviews Taylor Abbett, Co-Founder of JARVIS XR and President of Tailored Marketing Inc. They explore key aspects of entrepreneurial growth, specifically the importance of tenacity and decision-making in facing industry challenges. Taylor shares insights from his career in marketing, detailing the impact of AI on the industry and the shift towards project-based work. He also narrates his entrepreneurial journey, from his upbringing in Pittsburgh to founding his own company, providing valuable advice for aspiring entrepreneurs. The discussion also touches on balancing professional ambitions with personal interests, including future aspirations and hobbies. Takeaways: * Remind entrepreneurs that obstacles are part of the journey and staying tenacious will help them overcome hurdles. * Adaptability is important. Be open to pivoting strategies when necessary while maintaining a commitment to the end goal. * Encourage viewing failures as learning opportunities that contribute to growth and development. * Highlight stories or examples where persistence has led to success, reinforcing the idea that persistence is crucial in entrepreneurship.
Links: * LinkedIn: https://www.linkedin.com/in/taylor-abbett-7128ab1/ * Website: https://tailoredmarketing.com/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
What makes your business memorable? What sets it apart—not just in the marketplace, but in the minds of customers, employees, investors, and potential buyers?
Laurie Barkman sits down with Paul Furiga, founder and chief storyteller at Word Write Agency and author of Finding Your Capital S Story. Together, they explore how storytelling isn’t just entertainment—it’s a strategic tool that can elevate your brand, increase your company’s value, and create lasting impact.
This special episode marks the 5-year anniversary of Succession Stories - launched in 2020 - during the height of the pandemic.
Paul shares how stories are hardwired into our brains and how a powerful “Capital S Story” can define why someone would buy from you, work with you, invest in you, or partner with you—especially during times of transition like succession planning or selling your business.
This conversation is essential for founders, entrepreneurs, and business advisors who want to move beyond transactional storytelling and craft a narrative that truly resonates.
💬 Quote of the Episode: "Stories are not just how we communicate—they're how we think, how we process, and how we decide."
🔗 Resources Mentioned: * Paul Furiga’s Book : https://www.wordwriteagency.com/find-your-capital-s-story * Word Write Agency : www.wordwriteagency.com * Storylines Live Podcast : https://www.wordwriteagency.com/storylineslive * Connect with Paul Furiga on LinkedIn : www.linkedin.com/in/paulfuriga/
📣 Leave a Review: https://ratethispodcast.com/successionstories This Show Is Sponsored by The Business Transition Sherpa® If you enjoyed this episode, please leave us a review on Apple Podcasts or wherever you listen!
📢 More Resources: * LinkedIn: https://www.linkedin.com/in/lauriebarkman/ * Website: https://thebusinesstransitionsherpa.com/ * Book: https://btsherpa.com/book * Course: https://btsherpa.com/course * Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“As one takes the journey, you start to make decisions that when collected become the components that are foundational to being an entrepreneur.” - Charlie Buscarino
Host Laurie Barkman interviews Charlie Buscarino, the Founder and CEO of The Clarient Group. Charlie shares his path from construction to entrepreneurship. They discuss the innovations in smart building technology and the importance of creativity and problem-solving in uncharted territory. Charlie also reflects on his career, emphasizing the significance of networking and maintaining a work-life balance, while sharing insights from his personal life and family experiences. Takeaways: * Build a strong network, meet people, and seek diverse viewpoints to broaden your understanding and opportunities. * Focus on improving client experiences and meeting their business objectives, such as reducing costs or enhancing operational efficiency. * Prioritize self-discovery and personal growth alongside professional ambitions. * Explore new interests and activities that contribute to your overall development and well-being.
Links: * LinkedIn: https://www.linkedin.com/in/charlesbuscarino/ * Website: https://theclarientgroup.com/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“Every entrepreneur sees that in trial, there's treasure.” - Dean Minuto
Host Laurie Barkman interviews Dean Minuto, President of YESCALATE. Dean shares his insights on entrepreneurship and the development of crucial skills necessary for success. The discussion emphasizes the importance of asking the right questions to learn in business and Dean elaborates on building muscle in entrepreneurship through learning and community. He also shares personal experiences that shaped his entrepreneurial journey, advocating for transformational relationships in business and life. Takeaways: * Frequently ask important questions like "What works?", "Why does it work?", and "How can I apply it to my situation?" to guide your learning and actions. * Emphasize the importance of being curious and having a test-and-learn mindset. This involves continuously seeking knowledge, adapting, and improving. * Treat necessary skills like selling, presenting, or cold-calling as muscles that need regular exercise. Dedicate time to practice and improve these skills consistently. * Constantly work on self-improvement, whether it’s through reading, attending workshops, or other educational opportunities. Personal growth often translates to business growth.
Links: * LinkedIn: https://www.linkedin.com/in/deanminuto/ * Website: https://yescalate.com/about/ * Book Link: https://www.amazon.com/One-Page-Sales-Coach-New-Revised/dp/1475174349/ref=asc_df_1475174349/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“I always knew I wanted to do something where I was the person deciding my own destiny, but it's not for everyone.” - Susan Quinn
Host Laurie Barkman welcomes Susan Quinn, CEO and President of Circle S Studio. The conversation first explores whether entrepreneurial traits are inherited or nurtured. Susan shares her family's history of business ownership, her journey to founding her own consulting firm, and the values that drive her company's culture. The episode also covers the challenges entrepreneurs face today, the future impact of AI on the industry, and personal anecdotes about Susan's origin story and passions outside of work. This engaging discussion provides insights on leadership and maintaining a positive outlook amidst challenges. Takeaways: * Hire skilled individuals and trust them with responsibilities. Delegating tasks empowers your team and allows you to focus on strategic aspects of the business. * Stay curious and continuously seek knowledge. Engage with emerging technologies like AI to boost productivity and innovation. * View challenges as opportunities for growth. Maintain a positive approach to problem-solving and encourage your team to do the same. * Explore and integrate AI tools to streamline tasks and enhance efficiency. Use technology to free up time for more strategic and creative work.
Links: * LinkedIn: https://www.linkedin.com/in/susanquinn01/ * Website: https://circlesstudio.com/ * Susan’s Podcast: https://circlesstudio.com/insights/podcast/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
What does it take to build stronger teams and more effective leaders? For Ken Bogard and Grace Gavin, it begins with a commitment to honesty.
Laurie Barkman sits down with Ken and Grace—co-founders of Know Honesty and authors of the new book by the same name—for a compelling conversation about the role of open communication in business success.
Dedicated to enhancing professional lives and simplifying leadership, Ken and Grace are leading a transformative movement that empowers individuals and organizations to close communication gaps, foster collaboration, and achieve meaningful goals.
🔗 Learn more: KnowHonesty.com 👤 Connect with Ken: Ken Bogard on LinkedIn 👤 Connect with Grace: Grace Gavin on LinkedIn
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
“You don't want to be in the role of telling people what to do, but it's encouraging people to do what you think is right, but also being open to learn from them.” - Bill Spohn
In this episode of The Entrepreneur Gene, host Laurie Barkman welcomes Bill Spohn, President and CEO of Tru Tech Tools, to discuss the characteristics of the entrepreneurial mindset, the intersection of engineering and entrepreneurship, and his career journey. Bill shares his family's legacy of risk-taking, talks about the challenges he faces as a business owner, and provides advice for other entrepreneurs. He also discusses his passion for sustainability through the construction of his eco-friendly home and his involvement in the HVAC industry. Takeaways: * Leaders should frequently communicate their vision and goals. Repeating key messages helps ensure everyone understands and aligns with the mission. Reinforce core values and objectives regularly in meetings and newsletters. * Connect with other CEOs and entrepreneurs to share experiences and solutions. Maintain a network of peers for regular discussions and support, as it's essential to normalize and tackle common challenges. * Highlighting and rewarding team members' adherence to core values can foster a positive and cohesive company culture. Use real-life examples to illustrate these values in action to make them more relatable and tangible. * Stay engaged with the latest trends and educate your customers and team on new techniques and processes. For example, using podcasting and presentations to disseminate knowledge and build authority in your industry.
Links: * Facebook: https://www.facebook.com/groups/254934411710666/ * LinkedIn: https://www.linkedin.com/in/billspohn/ * Website: https://trutechtools.com/ * Podcast: https://www.buildinghvacscience.com/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Do you have the conviction to pursue your big idea? In this episode of The Entrepreneur Gene, host Laurie Barkman interviews Pallavi Golla, a serial entrepreneur and professional EOS implementer at EOS Worldwide. They discuss the concept of the entrepreneurial gene, the importance of nurturing entrepreneurial skills, and overcoming challenges in business. Pallavi shares her journey of building and selling two businesses and provides advice for aspiring entrepreneurs. The conversation also touches on the marshmallow test, balancing work and family, and the evolving landscape of the consulting industry. Takeaways: * Foster essential skills such as delayed gratification, perseverance, grit, and the ability to handle failure. These are crucial for navigating the entrepreneurial journey. * Build an environment that encourages ideas and input from your team. Make sure that team members feel their opinions are valued and considered in decision-making processes. * Leverage the experiences and lessons from both successes and failures. Use these insights to guide future decisions and strategies. * Strive to separate work stress from family life to maintain a healthy dynamic at home and avoid burnout.
Quote of the Show: * “Be okay with failure. The ability to hear no many, many, many times and still have the conviction to pursue an idea that you have is important.” - Pallavi Golla
Links: * LinkedIn: https://www.linkedin.com/in/pallavip19/ * Website: https://www.eosworldwide.com/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
In this episode of The Entrepreneur Gene, host Laurie Barkman sits down with Nick Hutchison, CEO and Founder of BookThinkers. They discuss Nick's entrepreneurial journey, how books changed his life, and his rebellious nature that drove him to create successful businesses. Nick shares key decisions and challenges in scaling BookThinkers, emphasizing the importance of systems and strategic growth. The conversation also touches upon personal anecdotes, Nick's passion for endurance sports, and his excitement about becoming a father. Listeners gain insights into leveraging books for personal growth and the importance of creating structured business systems. Takeaways: * Delve into books that other successful entrepreneurs recommend to gain knowledge and different perspectives. Consider books like "Rich Dad, Poor Dad" by Robert Kiyosaki, "The E-Myth Revisited" by Michael Gerber, and "Traction" by Gino Wickman. * Focus on making small, incremental improvements over time. Break your long-term goals into manageable quarters or small steps progress steadily. * Invest in systematizing your business processes. Standard operating procedures (SOPs) and centralized systems can help scale operations efficiently. * Consider hiring consultants or coaches who can provide expertise in specific areas, such as backend infrastructure, to streamline your business operations. * Ensure your team is aligned with the new systems and processes. Change management is critical, and getting buy-in from your team is essential. * Networking is powerful. Engage with people, attend events, and build relationships that can support your business growth.
Quote of the Show: * “I genuinely believe at my core and in my bones that the right book at the right time can permanently change somebody's life.” - Nick Hutchison
Links: * Instagram: https://www.instagram.com/bookthinkers/ * LinkedIn: https://www.linkedin.com/in/bookthinkers/ * Website: https://bookthinkers.com/
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Is your “Fourth Quarter” of life filled with purpose—or just pressure? Executive coach Scott Couchenour helps leaders over 50 design a future they won’t regret. In this episode of Succession Stories, host Laurie Barkman talks with Scott about his journey from burnout to breakthrough, and how he now guides others through mid-life reinvention with intention and clarity.
Perfect for business owners and executives navigating succession or personal transition, this conversation will inspire you to turn uncertainty into opportunity.
🔗 Connect with Scott: Website: www.servingstrong.com LinkedIn: linkedin.com/in/scottcouchenour
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This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Welcome to our new sub-show on Succession Stories...The Entrepreneur Gene! In this 1st episode, Host Laurie Barkman interviews David Newman, entrepreneur, author, and sales and marketing expert. David shares his insight into the idea of an entrepreneurial gene, discussing key traits such as being a maverick and a risk-taker. He reflects on his journey from a struggling entrepreneur to a successful mentor, emphasizing the importance of alignment and avoiding distractions in business. David also explores the impact of AI on consulting and shares personal insights and advice for future entrepreneurs. The episode ends with discussing David's passion for retro video games and resources listeners can access for further learning! Takeaways: * Understanding that entrepreneurship often stems from an inherent drive to be mavericks, mavens, and rebels, leaders should recognize and nurture these qualities within themselves. * Entrepreneurs often struggle with distractions from multiple ventures. Focusing on how to align efforts under one coherent strategy or "roof" can prevent spreading oneself too thin. * Instead of starting entirely new ventures, which David calls hot dog stands, focus on improving and innovating within the current business structure to scale and grow. * Embrace technological advancements like AI to improve efficiency but ensure the added value is applied in a human-centric manner. * Find mentors, join masterminds, and accept help from peers and successful entrepreneurs early in the journey to accelerate learning and avoid common pitfalls. * Before investing heavily in new business ideas (like building logos or websites), sell the concept first to ensure there is market demand. * Being part of a community or network can provide support, opportunities for learning, and potential collaborations.
Quote of the Show: * “The mavericks, the mavens, the rebels, those kinds of people, if that's in their DNA, then they're truly cut out for entrepreneurial success.” - David Newman
Links: * LinkedIn: https://www.linkedin.com/in/davidjnewman/ * Website: https://doitmarketing.com/
📣 Leave a Review: https://ratethispodcast.com/successionstories
This Show Is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
More Resources:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Cheers to 5 years of Succession Stories! On our anniversary, we are excited to introduce our new feature series, The Entrepreneur Gene! A bonus for Succession Stories Podcast listeners!
Listen weekly as show host Laurie Barkman talks with founders and CEOs exploring the rewards and challenges of the entrepreneurial path.
Be sure to subscribe so you don’t miss an episode!
This Show is Sponsored by The Business Transition Sherpa®
Get your business unstuck so you can grow, scale, and exit while enjoying the journey.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
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Ghislain Gouraige, Partner at NewEdge Wealth, helps ultra-high-net-worth families and entrepreneurs navigate business transitions. Ghislain joins host Laurie Barkman to recap the firm's 2025 Onward Conference held at Carnegie Mellon University and valuable insights to help you prepare before a sale:
- Success factors to prepare personally and financially
- How to maximize business value
- Understanding M&A market trends and roll-up strategies
- Identifying target companies
- Characteristics that make industries attractive to consolidators
Dive in for insights to preserve wealth, achieve your transition goals, and build a lasting legacy.
____________________________________
This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Learn what every entrepreneur needs to know about making your business more scalable and sellable!
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
👉 Don’t miss Laurie’s expert advice in Success Magazine: Secure Your Business With Succession Planning | SUCCESS
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Connect with Ghislain Gouraige:
Website: https://www.newedgewealth.com/team/ghislain-gouraige/
LinkedIn: https://www.linkedin.com/in/ghislain-gouraige-5074b220/
For all episodes visit: https://successionstories.com
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What happens when a successful entrepreneur faces his own turning point? In this episode, Laurie Barkman sits down with Jon Goldman, CEO of Turning Point, to discuss his journey from co-owning the innovative promotional products company Lumpy Mail to navigating his own business succession. Jon shares insights on guiding leaders toward discovering their life purpose, aligning personal and company values, and upgrading professional and emotional habits.
Tune in for a conversation about transformation, leadership, and building a meaningful legacy.
____________________________________
This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Learn what every entrepreneur needs to know about making your business more scalable and sellable!
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Learn more about Jon Goldman: myturningpoint.com
Get the GIFT Framework mentioned on the show!
🔗 LinkedIn: Jon Goldman
For all episodes visit: https://successionstories.com
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Employee Stock Ownership Plans (ESOPs) are one of the best-kept secrets in business succession planning. In this episode, Laurie Barkman sits down with Dan Zugell, Senior Vice President at Business Transition Advisors and a nationally recognized expert in ESOPs, to explore how these plans create financial value, enhance employee engagement, and offer unique transition options for business owners.
Dan shares insights on the financial benefits of ESOPs—like tax advantages and wealth creation—as well as the often-overlooked social impact of employee ownership, including reduced turnover and stronger workplace culture. He also debunks common misconceptions, such as the idea that ESOPs require 100% ownership transfer or that they lack exit opportunities.
If you’re a business owner considering succession strategies, or simply curious about how ESOPs can transform a company’s future, this episode is for you!
🎧 Tune in now to learn from one of the leading voices in ESOP planning.
____________________________________
This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Learn what every entrepreneur needs to know about making your business more scalable and sellable!
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Connect with Dan Zugel:
Website: ESOPs & Succession Strategies | Business Transition Advisors
LinkedIn: https://www.linkedin.com/in/dan-the-esop-man-zugell-a364b87/
For all episodes visit: https://successionstories.com
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Is your business truly valuable—or just another job you’ve created for yourself? In this episode of Succession Stories, Laurie Barkman speaks with Justin Goodbread, award-winning exit planner, best-selling author, and serial entrepreneur who has built and sold six businesses.
Justin shares how he doubled the value of his financial services firm in just 18 months, the key to making your business a transferable asset, and why your business isn’t your baby—unless it’s an ugly one. Tune in for actionable insights on scaling, selling, and finding joy beyond the exit.
____________________________________
This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Learn what every entrepreneur needs to know about making your business more scalable and sellable!
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
____________________________________
Connect with Justin Goodbread:
https://www.linkedin.com/in/justingoodbread/
https://www.justingoodbread.com/
For all episodes visit: https://successionstories.com
📣 Leave a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Join Matthew Powell, CEO of Century Companies and a fourth-generation family business leader, along with host Laurie Barkman, as they explore the art of building sustainable, multi-generational enterprises. In a world of short-term exits, Matthew champions a different path—creating lasting value for stakeholders by thinking in centuries, not just years.
Through insightful conversations with industry leaders, entrepreneurs, and experts, Built to Last dives into the challenges and triumphs of family businesses, leadership transitions, and fostering a culture of stewardship. Whether you're leading a family enterprise or simply fascinated by legacy-driven leadership, this podcast offers actionable strategies to help businesses flourish for generations to come.
🎙️ Topics include:
- Navigating leadership transitions in family businesses
- Building resilience and long-term value
- Balancing tradition with innovation
- Fostering the next generation of leadership
Listen now and start building a legacy that lasts!
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This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Learn what every entrepreneur needs to know about making your business more scalable and sellable!
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://btsherpa.com/course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
Connect with Matthew Powell:
Website: Matthew Powell
LinkedIn: https://www.linkedin.com/in/matthewwpowell/
For all episodes visit: https://successionstories.com
📣 Leave a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
🎙️ Discover how scaling starts with mindset in this insightful episode of Succession Stories!
Laurie Barkman welcomes Jennifer Dawn, a seasoned entrepreneur, business coach, and host of the Happy Productive podcast, to share her journey of building and selling businesses. From launching her first venture at age 8 to founding Quantix, a software company for the attractions and amusement industry, Jennifer reveals what it takes to create a thriving company that’s not just profitable but sustainable and satisfying.
In this conversation, Jennifer offers actionable insights on scaling a business by shifting the owner’s mindset, building teams, and transforming companies from the inside out. She also shares personal stories, her approach to solving challenges, and the traits that set successful entrepreneurs apart.
Connect with Jennifer Dawn:
🌐 Website: jenniferdawncoaching.com
📚 Podcast: https://jenniferdawncoaching.com/podcast/
📘 LinkedIn: https://www.linkedin.com/in/jenniferdawn/
Listen now for expert advice on scaling smarter and building a lasting legacy!
Succession Stories is Sponsored by The Business Transition Sherpa® Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms. Join the entrepreneur community at https://thebusinesstransitionsherpa.com/ _______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"
Download here.
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Christin Cardone McClave knows firsthand the complexities of leading and selling a multigenerational family business.
Host Laurie Barkman talks with Christin about her journey of navigating leadership roles at her family’s third-generation business, CARDONE Industries. During her tenure as Chief People Officer and COO, she helped the company reach an impressive $1B revenue milestone. In May 2019, she played a pivotal role in the successful sale of CARDONE Industries to a leading global private equity firm.
With extensive experience spanning Johnson & Johnson, family governance, and business strategy, Christin offers actionable insights into the emotional and strategic aspects of selling a family business. This episode delves into her process, including overcoming challenges, embracing transitions, and building a fulfilling work-life outside of the family business.
In addition to serving as a distinguished family business strategist, public speaker, and seasoned board member, Christin is also a “spousepreneur,” co-leading OrangeStar Ventures with her husband, managing diverse businesses and investments. Her passion for leadership, governance, and mentorship is evident through her work with organizations like World Vision USA and the PRAXIS Labs accelerator program.
Takeaways: ~ Selling a family business is an emotional journey—coaches and mentors can be invaluable in navigating this process. ~ Building a legacy beyond the family business is possible through vision, resilience, and governance. ~ Preparing for a sale requires careful consideration of employees, business debt, estate planning, and family dynamics. ~ A non-family executive team can bring fresh perspectives to family-owned enterprises.
Quote of the Show: “Life beyond the family business is possible when you own your choices and focus on building a vision for what’s next.” - Christin McClave
Connect with Christin:
https://www.linkedin.com/in/christinmcclave/
www.orangestarventures.com
Succession Stories is Sponsored by The Business Transition Sherpa® Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms. Join the entrepreneur community at https://thebusinesstransitionsherpa.com/ _______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"
Btsherpa.com/book
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
2024 year-end solocast! Laurie Barkman shares reflections and gratitude for family, friends, and the growing community of entrepreneurs building value with the end game in mind. * Gratitude and Reflections - 01:00 * 2024 Show Highlights - 04:58 * Lessons Learned from Guests - 07:45 * Looking Forward to 2025 - 10:24 * Special Invitations for Listeners - 15:05
Get free digital copy of Business Transition Handbook at btsherpa.com/book Book a 30-minute strategy call at timewithlaurie.com Email contact@btsherpa.com with guest recommendations. ____________________________________
This Show is Sponsored by The Business Transition Sherpa®
100 percent of owners will leave their business one day. But few are prepared. Are you?
Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know.
✨📖 Get your FREE digital copy of The Business Transition Handbook here: https://btsherpa.com/book
____________________________________
Connect with Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://thebusinesstransitionsherpa.com/
Book: https://btsherpa.com/book
Course: https://freedom-finder.thebusinesstransitionsherpa.com/freedom-finder-course
Videos: https://www.youtube.com/@TheBusinessTransitionSherpa
For all episodes visit: https://successionstories.com
📣 Leave a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Daniel Feiman, is an internationally recognized leader in the areas of strategy, succession, and leadership development. He’s the Founder and Managing Director of Build It Backwards, a consulting and training firm working with small businesses and enterprises in over 30 countries including Apple and Hilton Hotels.
He’s also the author of “THE Book on...Succession Planning Systems.” Listen in as Laurie and Daniel explore the topic of future-proofing your firm and how succession planning builds value.
Too many owners and leaders take the short term view, and wait too long to address succession. What can you do now?
Laurie and Daniel have suggestions that you can start implementing today. Enjoy this Succession Stories episode about succession planning systems with Daniel Feiman.
Links:
- Website: www.BuildItBackwards.com
- LinkedIn: Daniel Feiman LinkedIn
Succession Stories is Sponsored by The Business Transition Sherpa®
Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms.
Download FREE digital copy of The Business Transition Handbook:
https://btsherpa.com/book
_______________________________________
📣 Leave a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Did you know that only 20% of businesses sell... and 75% of owners express regret after selling?
Dive in as Succession Stories host, Laurie Barkman, talks with Jerome Myers about why just 5 out of 100 of businesses exit with excellence.
Jerome is the founder of Exodus and an award-winning engineer turned business strategist who helps leaders navigate post-exit transitions. Through his NEO Navigator program and DreamCatchers podcast, he guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.
He brings extensive experience from leading a $20M operation in a Fortune 550 corporate startup, and guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.
This episode will get you thinking about how you can exit with excellence!
Topics:
- The Founder's Exit Paradox: Dive deep into the emotional and psychological challenges founders face when exiting their businesses and how to navigate this transition.
- Planning for Post-Exit Fulfillment: Discuss strategies for aligning new ventures and personal passions after exiting a business to ensure continued fulfillment.
- Creating a Purpose-Driven Exit Strategy: Share insights on building an exit strategy that not only maximizes financial returns but also aligns with long-term personal goals.
- The 8 Exits of a Founder: Introduce and explain the framework Jerome developed to help founders understand the different types of exits and how to choose the right one.
- Navigating Identity Realignment After Exit using the N.E.X.T. Framework: Talk about the importance of recalibrating personal identity after leaving a business and how founders can thrive in their next chapter.
Links:
- LinkedIn: linkedin.com/in/jeromemyers
- Website: exittoexcellence.com
Succession Stories is Sponsored by The Business Transition Sherpa®
Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms. * LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/ * Website: https://thebusinesstransitionsherpa.com/ * Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/ * Course: https://thebusinesstransitionsherpa.com/course/
_______________________________________
📣 Leave a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Laurie Barkman interviews Albert Ciuksza to challenges faced by millennial successors as they take over from baby boomer predecessors. Listen in as they discuss Albert's new book, “Succeeding: Stepping Up Without Stepping In It."
There's a demographic shift, with 10,000 baby boomers retiring daily from 2024 to 2027, often skipping over Gen X. There are emotional dynamics of succession that can sabotage successful transitions due to emotional attachment. Dive in to learn about practical tools for navigating succession effectively and avoid leadership mistakes.
Links for Albert:
https://solutions21.com/succeeding/
Succession Stories is Sponsored by The Business Transition Sherpa® Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms. Join the entrepreneur community at https://thebusinesstransitionsherpa.com/ _______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"
https://thebusinesstransitionhandbook.com
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Laurie Barkman interviews brothers and business partners, David and Chris Sinkinson, about their experience as co-founders of AppArmor, a bootstrapped SaaS business with a $40 million exit. They discuss the importance of understanding product-market fit, the role of unhappy customers in identifying issues, and the significance of recurring revenue in their app business. The conversation highlights the value of building relationships with potential buyers over time, which contributed to their successful exit.
They emphasize the importance of selling at the right time to capitalize on growth potential. The brothers also share their experience of transitioning out of the company and their ongoing efforts to help other entrepreneurs in their new venture called Startup Different. Check out their podcast and new book called “Startup Different.”
Enjoy this episode with Chris and David Sinkinson and their succession story from idea to exit.
Links for Chris and David:
Website: https://www.startupdifferent.com/
LinkedIn: https://www.linkedin.com/company/startup-different/
Instagram: https://www.instagram.com/startupdifferent/
YouTube: https://www.youtube.com/@StartupDifferent/
Succession Stories is Sponsored by The Business Transition Sherpa® Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms. * LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/ * Website: https://thebusinesstransitionsherpa.com/ * Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/ * Course: https://thebusinesstransitionsherpa.com/course/
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Today’s episode is a rewind of one of our favorite conversations with Karen Norheim, a second generation CEO of American Crane, a manufacturing company founded by her father. The show first aired in 2021.
Listen in as show host Laurie Barkman, The Business Transition Sherpa, talks with Karen about what fueled their succession story.
Karen stepped into her new role with curiosity and tenacity to make things happen. She led the company to lean in on strategic growth and innovation and are seeing the benefits.
As an update to the show, later in 2021, the family experienced the unexpected death of her father. Fortunately Karen and the company were well positioned.
Connect with Karen:
https://www.karennorheim.com/
https://www.americancrane.com/
_______________________________________
Stop feeling like a prisoner of your own company, and start feeling a sense of freedom like when you first started your business.
We'll show you how.
Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.
Get a 15% discount at checkout with code: successionstories15
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of Laurie's book "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options":
https://thebusinesstransitionhandbook.com
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Host Laurie Barkman, The Business Transition Sherpa®, interviews Maryann Bell, a partner at Wingspan Legacy Partners, about the common myths and challenges facing next generation successors in family businesses.
Maryann shares insights on the importance of communication, education, and bringing in outside expertise to navigate the delicate dynamics of family business transitions.
Listen in as they discuss strategies for stair-stepping next gens into the business, assessing fit, and managing the transfer of ownership and authority.
This episode provides valuable guidance for family business leaders and successors looking to ensure a smooth and successful succession.
Show Notes:
- Common myths facing next generation successors in family businesses - Challenges family business advisors face, including uncertainty and communication issues - Advice for families on embracing succession planning and bringing in outside expertise - Importance of engagement, education, and clear employment policies for next gen successors - Navigating the balance between leadership and ownership succession - Strategies for assessing fit and managing non-operating family members - Transferring ownership and authority, and the shift from owner-operator to owner-investor
Connect with Maryann Bell:
Wingspan Legacy Partners
Maryann Bell LinkedIn
What’s your entrepreneurial endgame?
If you want your business to be ready to sell at maximum value, now is the best time to start planning.
Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.
Get a 15% discount at checkout with code: successionstories15
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Host Laurie Barkman, The Business Transition Sherpa, talks with Henry DeVries, publisher, writer, and CEO of Indie Books International.
Listen in as Henry debunks a few myths about creating a sustainable competitive advantage in service businesses through niche specialization.
They also discuss the importance of candid conversations in business ownership transition and exit planning to offer valuable takeaways for business owners. Henry shares how he is planning for succession and exit with a focus on growth and value. Defining the legacy and impact a business owner wants to leave behind is a key part of the planning process.
Find Henry DeVries Here:
http://www.linkedin.com/in/henryjdevries
Indie Books International Website
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
Book a call to learn more:
https://thebusinesstransitionsherpa.com/course/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Join host Laurie Barkman, The Business Transition SherpaⓇ, as she celebrates four years of inspiring conversations and life-changing insights on the Succession Stories podcast.
With over 4.5 million companies and $14 trillion of business wealth at stake in the next decade, Laurie's mission to guide entrepreneurs through their succession journeys has never been more crucial.
Laurie unveils The Endgame EntrepreneurshipTM Masterclass, designed to guide entrepreneurs through the complexities of business transition.
This comprehensive online course offers self-paced video lessons, exercises, and a supportive community of advisors to help you maximize your business value and plan for a meaningful future.
With millions of businesses at a crossroads, there’s an imperative to go beyond exit strategies. It's about creating meaningful legacies and embracing the emotional journey of letting go.
What’s your entrepreneurial endgame?
_______________________________________
If you want your business to be ready to sell at maximum value, now is the best time to start planning.
Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.
Get a 15% discount at checkout with code: successionstories15
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
_______________________________________
❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories
Did you know that 87% of the businesses in the United States are family owned? That’s 32.4 million family businesses and they contribute $7.7 trillion to the GDP.
Pat Soldano, a strong advocate for family businesses, joins Succession Stories host Laurie Barkman, The Business Transition Sherpa.
Pat is the President of Family Enterprise USA (FE-USA) whose mission is to promote the growth of generational owned family businesses in the US. She is also President of Policy and Taxation Group that works to reduce onerous tax and economic policies for successful families, family business, and family offices.
Family Enterprise USA is relied upon to be the voice in Washington, DC for family businesses, generationally owned businesses, and multigenerational businesses across the US.
Listen in as Pat and Laurie discuss policy related challenges, particularly around taxes and estate planning. Succession planning impacts family businesses and that proactive planning is the way to mitigate some of these challenges over time.
Find Pat Soldano Here:
https://familyenterpriseusa.com/
https://policyandtaxationgroup.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
From humble beginnings to founding Magnum Nutraceuticals, Markus Kaulius shares the saga of transforming a passion into a $170 million empire with Laurie Barkman, The Business Transition SherpaⓇ. Discover the pivotal moment when Markus transitioned from operator to visionary owner, crafting a culture of empowerment and resilience. Learn how he scaled his business, fostered a vibrant company ethos, and navigated the delicate dance of succession. Join them as they unveil the human side of entrepreneurship, offering a roadmap for aspiring business moguls seeking fulfillment and legacy in their own ventures.
Listen in to learn more about:
- How building a business aligned with your passions can lead to greater fulfillment and success;
- How surrounding yourself with skilled individuals who share your vision can help you make better decisions;
- The importance of developing a scalable business model that can grow beyond your individual efforts;
- Why you should have an exit strategy in place, even before you find the right buyer;
- And how collaboration refines the transition and negotiation process for everyone’s benefit.
Find Markus Here:
playabiggergame.com
https://www.instagram.com/markuskaulius/
https://www.facebook.com/markus.kaulius
https://www.linkedin.com/in/markuskaulius/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
75% of owners express regrets one year after selling. We’re a mission to break the cycle.
What do we fear in times of transition? How do we develop a vision for ourselves beyond today?
When it comes to business transition, the identity we have – business owner, CEO, leader, family member, all play a part.
Heather Penny works with business leaders on ways to embrace change and anticipate life changes so they don’t control us.
Listen in as host Laurie Barkman, The Business Transition Sherpa, talks with Heather about ways to overcome personal fears in business transition planning.
Find Heather Penny Here:
https://heatherpenny.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Be sure to subscribe to the show and sign up for our newsletter at https://thebusinesstransitionsherpa.com
Host of the #1 stock investing podcast in the world, “We Study Billionaires” Kyle Grieve, joins Laurie Barkman on today’s episode. As part of The Investor's Podcast Network, Kyle helps professional investors and business people all over the world grow financially and personally.
Listen in as they explore how acquisitions can be a successful growth strategy through the lens of publicly traded company transactions. We also discuss common mistakes and why deals can go wrong even with successful investors like Warren Buffett.
Finding the right buyer is relevant in the public markets and privately-held companies. A key takeaway for growth through acquisition is to focus on targets with predictable cash flows that fit your areas of expertise and focus on integration early in the process.
Listen in to learn more about:
- The importance of strategic fit between acquiring and acquired businesses for deal success.
- Keeping founders involved post-acquisition to aid in cultural integration and knowledge transfer.
- How established acquisition playbooks can help larger companies smoothly integrate new businesses.
- The risks of extrapolating short-term performance without considering changes to macro factors that could impact growth.
- Vetting potential acquirers' track records of retaining staff, culture and independence of past deals to find the best buyer.
Find Kyle Grieve Here:
https://www.theinvestorspodcast.com/
https://twitter.com/IrrationalMrkts
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Laurie Barkman, The Business Transition SherpaⓇ, talks with Tony Whatley, a 20+ year serial entrepreneur, business coach, best-selling author, podcast host, and speaker. Tony is Co-Founder of LS1Tech, an online automotive performance community which grew into the largest of its kind with more than 300,000 registered members and 150 advertising accounts. After only 5 years, the company sold for 7-figures and amazingly, it was just his part-time business!
Tony shares his mindset and business strategies within his Amazon #1 best-selling book, Side Hustle Millionaire, and teaches people how to startup, scale, and exit their companies within his coaching group and podcast, 365 Driven.
Learn the valuable lessons Tony gleaned about assessing digital assets from an acquirer's perspective and advice for overcoming fears that can arise when selling your baby. Reflecting on core purpose and goals can help smooth the rollercoaster.
Tune in to get practical tips for launching and growing your own venture.
Listen in to learn more about:
- Treating your side business like a serious venture from the start by implementing professional processes and systems.
- Growing your audience organically through strategic partnerships and promotions without relying on social media.
- Properly valuing your digital assets and database from an acquirer's perspective to get the best price in a sale.
- Taking consistent action on your business ideas instead of just learning through endless planning.
Find Tony Whatley Here:
365driven.com
instagram.com/365driven
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Host Laurie Barkman, The Business Transition Sherpa, is joined by Greg McDonough, Managing Partner of Blackburn Capital Advisors and host of the Chief Endurance Officer Podcast.
Listen in as they discuss navigating a business turnaround through bankruptcy.Bankruptcy can be viewed as a tool for recovery rather than a sign of failure.
Greg discusses his experience isolating the root cause of the company’s financial issues and creating breathing room from creditors to reorganize fixed costs and debts.Greg also shares how his passion for endurance sports gave him the resilience that he needed to get through the restructuring process.
Learn when bankruptcy might be a solution. After all, hope isn’t a strategy when it comes to solving cash flow problems.
Listen in to learn more about:
- How isolating the root cause of financial struggles and making deeper cuts early can help turn a business around
- Why companies should view the bankruptcy process as a tool for recovery rather than a sign of failure
- Importance of resilience and endurance for entrepreneurs facing challenges
- Address the risk of tying financial recovery only to revenue projections
Find Greg McDonough Here:
www.blackburncap.com
www.chiefenduranceofficer.com
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Susan Keller, Founder of Entrepreneurial Executives. Susan advises businesses from startups to publicly traded companies on growth strategies and transactions.
Laurie talks with Susan as a fellow M&A Advisor about why it's valuable for entrepreneurs to get an early start with transition planning. A great place to begin is conducting a thorough business evaluation to identify what needs improvement in the business.
They also discuss the challenges of owner dependency, and separating your identity from the company. Emotional considerations can arise if not. Set an intention to separate yourself from your business to see what aspects of your culture and values a potential buyer might want to preserve.
Top 5 takeaways:
- Complete a comprehensive business assessment to identify operational gaps and formulate a robust transition plan.
- Approach projects from the perspective of a potential buyer to enhance the business's appeal in the market.
- Create a clear CEO job description to recognize dependencies and optimize the business's value.
- Conduct thorough due diligence on potential partners to ensure a seamless and beneficial transaction.
- Foster collaboration among all parties involved to achieve a mutually beneficial deal and pave the way for a successful transition.
Find Susan Keller Here:
https://www.ceoatlas.com
https://www.linkedin.com/in/susanakeller/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Host Laurie Barkman, The Business Transition Sherpa, talks with Jon Eesley, founder of Windsor Advisory Group. With over 27 years of experience working with privately held businesses, Jon has helped countless business owners navigate the complexities of succession planning. His approach focuses on understanding clients' personal goals and values to develop financial strategies that support their vision.
Laurie and Jon discuss ways to approach the transition planning process to overcome fear by leaning in on your personal motivations and vision for your legacy. Learn how to clarify your purpose beyond financial gains. Plan a succession that combines your head, heart, and calculator to ensure future generations maintain the family legacy.
Listen in to learn more about:
- Strategies for clarifying your personal motivations beyond financial security
- Best practices for establishing clear family values and legacy
- Ensuring you find fulfillment in your next chapter beyond financial gains
- Questions to consider about your role and purpose before transitioning your business
- Advice for prioritizing purpose over legalities in your succession plan
Enjoy this Succession Stories episode on preparing for a successful ownership transition with Jon Eesley.
Find Jon Easley Here: https://windsoradvisorygroup.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?
Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.
https://thebusinesstransitionsherpa.com/course/
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Darryl Bates-Brownsword, Managing Partner of Succession Plus in the UK. He hosts The Exit Insights Podcast and is a business consultant with over two decades of experience building and selling companies.
They discuss the importance of preparing for business exits and scaling entrepreneurial ventures. For business transition, you need a well-thought-out plan, valuation growth, and clear vision for the future.
Listen in to learn more about:
- Making a mindset shift from revenue growth to valuation growth to make a business more attractive for exit.
- Beginning with the end in mind to know what you want as an outcome from exiting your business and what your vision is for after exiting.
- Planning the "earnout period" before exiting to de-risk the business transaction
Show Links:
https://succession.plus/us/
https://www.linkedin.com/in/darrylbates-brownsword/
https://succession.plus/uk/podcasts-uk/how-to-objectively-value-your-business-for-maximum-exit-success/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
ENDGAME ENTREPRENEURSHIP MASTERCLASS
LEARN HOW TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
https://thebusinesstransitionsherpa.com/course/
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Guest Bio:
Darryl Bates-Brownsword is a dynamic, driven Business Consultant and Coach with over 20 years of experience and passion for creating successful outcomes for founder-led businesses. He is a great connector, team builder, problem solver, and inspirer — showing the way through complexity to simplicity. He has built two international multi-million revenue businesses; one now operating in 16 countries. His quick and analytical approach cuts through to the core issues quickly and identifies the context. He challenges the status quo and gets consistent, repeatable and reliable business results.
Unlock the story behind Reid Tileston's remarkable entrepreneurial journey in this episode of Succession Stories. Join Laurie Barkman, The Business Transition Sherpa®, as she sits down with Reid, a driven acquisition entrepreneur, to dive into his inspiring path from a 23-year-old with $100k to a thriving Anytime Fitness franchisee.
Through candid conversation, Reid shares the highs and lows of his entrepreneurial journey. From navigating the challenges of owning an Anytime Fitness franchise during the rough Great Recession to achieving top-tier success across multiple units, Reid offers invaluable insights into the world of acquisition entrepreneurship.
Discover the pivotal lessons Reid has obtained from buying and selling four companies. Learn why he stresses the crucial role of assembling the right team and adopting the mindset of an "entrepreneurial business owner" who strategically works on the business rather than being consumed by day-to-day operations. Diving into the emotional dynamics of business sales, Reid draws from his doctoral research on seller satisfaction post-sale. He underscores the importance of intentionality, emphasizing the need for sellers to grasp their business's true value and envision their role post-sale with clarity.
Get a sneak peek into Reid's forthcoming book, "Gridiron," which promises illuminating insights into the world of acquisition entrepreneurship. Don't miss this episode filled with wisdom, inspiration, and the raw realities of entrepreneurial success.
Listen in to learn more about
- The journey from finance to fitness franchise mogul
- Navigating the Great Recession and Beyond
- The untold stories of selling businesses
- Building teams and creating freedom
- A sneak peek into the upcoming book, "Gridiron"
In This Episode
- [00:00] Reid's journey into franchise ownership and initial challenges in the fitness industry.
- [01:57] Entrepreneurial Business Ownership.
- [03:22] Reid's experience in acquiring an industrial cleaning company
- [05:00] Employee Engagement and Business Ownership.
- [09:06] Exit Strategy and Employee Ownership.
- [14:45] Seller's Perspective and Business Transition.
- [15:24] Promotion of the book "The Business Transition Handbook"
- [16:42] Eye for Opportunities.
- [17:35] Becoming the Best Fit Buyer.
- [19:22] Seller regrets one year after the sale
- [20:29] Factors Affecting Seller Satisfaction.
- [30:45] The phenomenon of value surprise
- [33:51] Achieving Satisfaction as a Seller.
- [34:46] Book Release - "Gridiron".
- [34:51] The American Dream.
- [35:42] Relationships in Business Ownership.
- [36:42] Considerations for Small Business Ownership.
- [37:21] Key takeaways.
Notable Quotes
-
[10:14] "The money is nice, but what's really going to give you fulfillment is going to be based on the people that you help along the way, and most of those people are going to be your team members."-Reid
-
[11:57] "I always thought about it as selling to a strategic or doing an ESOP, and those were the two options that I thought about, and I definitely have some regrets about not doing the ESOP."-Reid
-
[14:39] "I still kind of wonder, was it the right move? Everyone's happy, it was a big victory for me and great for the team and the company, but I still ponder if it was the right decision."-Reid
-
[23:17] "I was surprised how good of a culture I had built in the business and how quickly the new buyer was able to methodically destroy it." -Laurie
-
[34:51] "The freedom and autonomy that can come from small business ownership are absolutely fantastic." -Reid
-
[35:42] "Some of my best relationships in life are with the employees that I've had, so you're going to meet some fun people along the process." -Reid
-
[37:41] "If you're not all in, you're in the way. This is not a halfway in, halfway out type of endeavor." -Reid
Guest Bio
Reid Tileston, an esteemed Adjunct Professor at Case Western Reserve University, is a seasoned entrepreneur with a remarkable 16-year journey of acquiring, growing, and successfully selling four companies. As a pioneering co-creator of the Entrepreneurship Through Acquisition curriculum at the University of Chicago Booth School of Business, Reid is dedicated to shaping the next generation of entrepreneurial leaders. His expertise is sought after not only in academia but also in advisory roles, where he shares strategic insights obtained from his diverse experiences. With a track record of achieving extraordinary returns on investment and excelling as an Anytime Fitness franchisee, Reid's impact resonates far and wide. Currently pursuing doctoral research at Case Western, he dives into the complexities of Entrepreneurship Through Acquisition, further solidifying his position as a thought leader in the field. Beyond his professional pursuits, Reid's adventurous spirit as an Eagle Scout and Ironman triathlete underscores his passion for relentless exploration and innovation.
Resources & Links
Laurie R. Barkman
- https://www.linkedin.com/in/lauriebarkman/
- https://www.youtube.com/@TheBusinessTransitionSherpa
- https://thebusinesstransitionsherpa.com/
Reid Tileston
- http://www.grititdone.com
- http://www.reidtileston.com
- https://www.linkedin.com/in/reidtileston/
Resources
- Book: "Get It Done" by Reid Tileston
- Book: "The Business Transition Handbook" by Laurie Barkman
Host Laurie Barkman, The Business Transition Sherpa, talks with David Spray, Founder and President of Export Advisors, which serves the owners of privately-held, U.S. exporting companies. Over the past 20 years, the firm has created more than $400 million in wealth for hundreds of entrepreneurs and their families from the IC-DISC tax savings program.
They discuss value building and how David built a niche podcasting business with infinite ROI, and sold it within two years to his partner.
Listen in to learn more about:
- Finding your niche and owning it
- Building a specialized business with recurring revenue
- Making your business highly transferable to a buyer
Enjoy this Succession Stories episode about how to create a profitable niche business to sell with David Spray.
Find David Spray Here:
https://www.linkedin.com/in/dspray/
https://www.ic-discshow.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
Show links:
Endgame Entrepreneurship Masterclass:
https://thebusinesstransitionsherpa.com/course/
Download free eBook of “The Business Transition Handbook” by Laurie Barkman:
https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
Connect Via Email:
successionstoriespodcast@gmail.com
Leave Voice Message on Speakpipe:
https://www.speakpipe.com/LaurieBarkman
❤️ Show us the love on Rate This Podcast:
https://ratethispodcast.com/successionstories
________________________________________
Laurie Barkman guides entrepreneurs to create life changing succession stories. Dramatically increase enterprise value and build with your exit in mind.
Find clarity on the often overwhelming process of transition planning. Visit https://thebusinesstransitionsherpa.com for an assessment of value and to schedule a strategy call.
Host Laurie Barkman, The Business Transition Sherpa, talks with Mike Malatesta, CEO of LJP Waste Solutions. Over the past 30 years, Mike's experienced the highs and lows of entrepreneurship. He built and sold two waste recycling companies that grossed more than $500M. He’s also an author, podcaster, and advisor to business owners.
Mike talks about the unexpected death of one of his business partners due to a workplace accident. Dealing with the loss was challenging and accelerated their interest in a potential exit.
You’ll want to hear why Mike believes entrepreneurs should not sell their business without the help of advisors and the mistake that cost him $4 Million.
For a successful exit, reflect on where you are now, what you want, and what the first step is to move towards that goal.
Listen in to learn more about:
- Why entrepreneurs should not sell their business on their own
- What triggered a $4M reduction in purchase price from the strategic buyer
- Why due diligence when selling your business can be overwhelming
- Selling a business, negotiation mistakes, and lessons learned
- Avoiding negotiation pitfalls when selling your business
Show links:
Join the Endgame Entrepreneurship Masterclass:
https://thebusinesstransitionsherpa.com/course/
Download free digital copy of Laurie's book, “The Business Transition Handbook” or grab your copy on Amazon:
https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
Join Our Facebook Group:
https://www.facebook.com/groups/businesstransitionsherpa
❤️ Show us the love on Rate This Podcast:
https://ratethispodcast.com/successionstories
________________________________________
Laurie Barkman guides entrepreneurs to create life changing succession stories. Dramatically increase enterprise value and build with your exit in mind.
Find clarity on the often overwhelming process of transition planning. Visit https://thebusinesstransitionsherpa.com to schedule a conversation and get started.
Succession Stories host Laurie Barkman, The Business Transition SherpaⓇ, sits down with JV Crum III, founder of the Conscious Millionaire Institute and Conscious World Foundation Inc.–a global non-profit that trains youth to become conscious leaders.
What happens when you’re asked to join the family business but then discover there are BIG financial challenges? JV shares his experience how he helped turn around a family trucking company and became a millionaire by age 25. He overcame conflicts with his father, improved business performance, and sold to a larger family-owned trucking line, resulting in a transaction that took only three months to close.
In this insightful episode, they dive into the complexities of family businesses, founder-led enterprises, and the unique challenges faced by hired executives.
Listen in to learn more about:
- Understanding the importance of aligning personal purpose with business goals to achieve fulfillment and success.
- Recognizing the impact of family dynamics in business and learning strategies to navigate them effectively.
- Gaining insights into the process of selling a business, including finding the right buyer and negotiating a successful deal.
- Embracing a mindset shift towards prioritizing internal growth and mindset development as the key drivers of business success.
- Discovering the three essential areas of focus for business growth: mindset, strategy, and execution.
Things often happen at the right moment when you least expect it.
Enjoy this Succession Stories episode about successfully exiting a family business after turning it around with JV Crum III.
Find JV Crum III Here:
https://consciousmillionaire.com/
https://www.facebook.com/jvcrum/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
SIGN-UP FOR NEW MASTERCLASS
TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
_______________________________________
Unlock deeper insights into entrepreneurship and scalability by engaging with us through various social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Succession Stories host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Meghan Lynch, the driving force behind Six-Point Creative, a marketing services firm dedicated to empowering family-owned and closely-held businesses. Meghan's mission is to help family businesses compete against industry giants.
Listen in as they explore:
- The challenges that family businesses face in balancing sustainability and growth
- Strategies for family businesses to achieve 2X growth while maintaining control over relationships, messaging, and future direction
- 3 essential steps for family-held businesses to achieve their goals in the coming year and beyond
Enjoy this Succession Stories episode about how family businesses navigate growth crossroads with Meghan Lynch.
Find Meghan Here: https://sixpointcreative.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
SIGN-UP FOR OUR NEW MASTERCLASS
TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
_______________________________________
Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free digital copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Welcome back to the Succession Stories podcast. If you haven't already, be sure to subscribe, and if you enjoy the show, please leave us a review! Go to RateThisPodcast.com/successionstories.
Host Laurie Barkman welcomes Max Lewis, entrepreneur and author of “Who Is Max Lewis?” Max shares what led to the eventual sale of his company for $37 million.
From selling mangos as a child to amassing millions by exchanging propane tanks, Max beat the odds and became one of America's ultra-high net-worth individuals by 36 years old. Through persistence, hard work, and a willingness to learn from mistakes, he tactfully planned for nothing less than success.
It’s also about a family in business that fell apart as a family business. For 18 months, Max was literally locked out of his business by his brother.
Max’s story is about forgiveness, resilience, and the power of faith. There are lots of pivotal moments in our lives. Which ones will stand out to transform your entrepreneurial journey?
His message is that extraordinary success is within your reach—when you're willing to put in the work.
Enjoy this Succession Stories episode about discovering the secrets behind a $37 million exit with Max Lewis.
Find Max Lewis Here: https://whoismaxlewis.com/
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
SIGN-UP FOR NEW MASTERCLASS
TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
_______________________________________
Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Ralph Ward is the editor of the Corporate Board Magazine and an expert in corporate governance. He’s the author of six books on corporate governance and board issues. I asked him to join me on the show to talk about best practices for private company boards.
It’s about governance and strategic guidance. Boards aren’t just for large public companies. Even newer, privately held firms can benefit from having a board. Boards also get involved in CEO succession planning. We address challenges faced by family businesses and how boards can help navigate these complexities.
Enjoy this Succession Stories episode about why your company might need a board with Ralph Ward.
- Corporate governance and board formation in private companies.
- Board formation in private companies often delayed until crisis strikes
- Private companies can bring in outside directors with experience in succession planning to help founders navigate family dynamics and ensure a smooth transition.
- Advisory boards can help with succession planning and governance in family businesses.
- Advisory boards can provide outside perspectives and help with growth stage challenges in companies.
- Tips and tools for dealing with drama in the boardroom and improving corporate governance.
- Advisory boards can provide valuable networking opportunities for companies, connecting them with important people in their industry.
Find Ralph Here:
www.corporateboard.com
www.boardroominsider.com
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
SIGN-UP FOR NEW MASTERCLASS
TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
_______________________________________
Engage with us on our social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Welcome back to the Succession Stories podcast. If you’re not already, please give me a follow on LinkedIn and Instagram @lauriebarkman. Be sure to subscribe, and if you enjoy the show, please leave us a review! Go to RateThisPodcast.com/successionstories.
Today we welcome Alex Neist, a serial entrepreneur and former professional athlete. Alex is the founder of Hostage Tape, a health enhancement product that has quickly scaled into an e-commerce powerhouse, generating seven figures in monthly revenue.
Alex shares his succession stories from AFL quarterback, to tech company founder, and selling the business to a strategic buyer in a cash and equity deal.
You’ll want to hear why Alex decided to leave once his equity vested, and his journey of self-reflection and personal challenges to overcome. Eventually it led to the origin story behind Hostage Tape and how he’s creating scalable businesses around commodity products.
Alex believes that to get better, you have to be able to confront failure.
Enjoy this Succession Stories episode about how to build a scalable business with Alex Neist.
Find Alex Neist Here: https://instagram.com/hostagetape
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
_______________________________________
SIGN-UP FOR NEW MASTERCLASS
TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
_______________________________________
Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Succession Stories host Laurie Barkman, The Business Transition Sherpa™, welcomes Cesar Quintero, a serial entrepreneur in the foodservice industry.
At age 24, Cesar moved to Miami given the economic turmoil in Venezuela to pursue his dream of starting a business and helping others achieve a healthier lifestyle by founding Fit2Go - the first corporate healthy meal delivery service in Miami.
Nearly 10 years later, he launched two new companies: RawBar2Go, the first licensed food boats in Florida, and The Profit Recipe, a coaching firm empowering entrepreneurs to work ON the business and not IN the business by implementing best practices and the Entrepreneurial Operating System (EOS).
With nearly 50 employees at their peak, and $3.5 million in revenue, Cesar was close to burning out. He resented the business because of the lack of time freedom that he felt.
Listen in as Cesar describes his personal journey of rediscovering the passion for his business. Hear how he bounced back by implementing transformative systems and processes; the open book approach to sharing financials with his team, and eventually selling the business to a team member.
Entrepreneur burnout happens more often than you may realize. 75% of entrepreneurs report occasional or frequent burnout.
Enjoy this Succession Stories episode on how to avoid entrepreneur burnout with Cesar Quintero.
❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories
Find Cesar Quintero Here:
Cesar´s Linkedin: https://linkedin.com/in/cesarquintero
Profit recipe website: https://theprofitrecipe.com/
Profit recipe FB: https://www.facebook.com/TheProfitRecipe/
Profit recipe LinkedIn: https://www.linkedin.com/company/the-profit-recipe
_______________________________________
CHECK OUT OUR NEW MASTERCLASS:
"Endgame Entrepreneurship: Build With The Exit In Mind"
https://thebusinesstransitionsherpa.com/course/
Learn how to maximize value and exit on your terms!
_______________________________________
Embark on a journey of understanding and practical application as we navigate ways to avoid entrepreneur burnout, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Jane Hanson, a nine-time Emmy award winning correspondent. She has an amazing resume as a network co-anchor in New York, and has covered events ranging from the tragedy of 9/11 to the joy of the Yankees victory parades. She has interviewed presidents, business leaders, prisoners, and celebrities. She’s currently a much sought-after communications coach working with top-tier leaders in every field while continuing to emcee, speak and host broadcasts.
Laurie and Jane discuss how leaders have tough conversations, especially when it comes to succession. At the core of everything has got to be respect. Whatever the conversation is, you need to prepare carefully. You also have to make sure that your decision is absolute, there can't be any wavering.
Also hear Jane’s take on the HBO show, Succession, and how she’d advise the sibling rivals if she could.
Enjoy this Succession Stories episode on how to have tough succession conversations with Jane Hanson.
Find Jane Here: https://www.janehanson.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes David Newman, author of the business bestseller "Do It! Marketing" and his new book, "Do It! Selling." He's the founder of the Do It! MBA mentoring program and the host of The Selling Show, a top-rated business podcast.
Laurie and David discuss his take on how business owners can avoid a common succession pitfall related to sales. It’s called the “Rainmakers Dilemma” and happens when the owner of the business drives the sales process and most of the revenue.
The risk is that if the owner isn’t there, the business is likely to flatline or decline. To dive deeper on this topic, we've also included a link to an ebook about the Rainmakers Dilemma and what to do about it in the show notes as an additional resource for you.
Enjoy this Succession Stories episode about avoiding sales succession pitfalls with David Newman.
Show links:
Download the Rainmakers Dilemma ebook: https://bit.ly/rainmakers_dilemma
Find David Newman here: https://doitmarketing.com
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Matt DiFrancesco, Principal of HighLift Financial, and host of the "Your Business, Your Life" podcast.
Laurie and Matt discuss navigating complex family dynamics for business succession planning. How to have difficult conversations with family members, especially children, about their roles in the business and potential ownership succession. Family legacy and continuity planning are essential parts of the conversation as well as common challenges for succession planning in family businesses including timing of decisions.
Enjoy this Succession Stories episode on navigating family business succession planning with Matt DiFrancesco.
Find Matt DiFrancesco here: highliftfinancial.com
Listen in to learn more about:
- Business Exit Timeframe
- Navigating Family Dynamics
- Creating a Family Legacy
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Ross Brannon, Tax Shelter and Private Equity Consultant at CoastalOne.
Ross joined Laurie for a conversation about tax strategies business owners should consider when selling a business. Listen in to learn more about tax deferral and tax mitigation strategies including opportunity zones, installment sales, and diversified investment structures.
Don’t wait until you’re in a transaction to learn about tax mitigation strategies. It’s called financial planning for a reason. You need time to plan.
They also discuss the importance of planning for life after selling your business and why Ross doesn’t believe in the notion of retirement. Find purpose and impact in the next chapter of your life.
Enjoy this Succession Stories episode about tax strategies to consider when selling your business with Ross Brannon.
Find Ross here: https://rossbrannon.com/
Listen in to learn more about:
- Navigating Tax Complexities
- Strategic Exit Planning
- Diversified Financial Approaches
- Avoiding Retirement and Staying Engaged
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes Elliot H. Kallen, President of Prosperity Financial Group, a financial planning and advising firm. Elliot is a three time CEO with a passion for working with family businesses to achieve a meaningful life beyond financial measure.
Listen in as they discuss the emotional aspect of family businesses and the hypothetical umbilical cord that’s hard to sever. It could be a reason why family business owners want their kids to take over– so they can stay close to the action. Or, they may be reluctant to let go of their company baby and plan to work until they die.
Does the next generation even want to own the business, or do they want the wealth from an exit and the ability to move on? And what’s your retirement strategy? Make it more than watching four hours of TV a day.
Elliot is a proponent of creating a meaningful life. He shared the heart-wrenching story of his youngest son’s death by suicide, and how he’s honoring his memory by taking action to help other families. A Brighter Day charity unites stress and depression resources with teens and their parents with the goal of stopping teen suicide.
Enjoy this Succession Stories episode about meaningful transitions with Elliot Kallen.
Find Elliot here: https://prosperityfinancialgroup.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes Rocco Cozza, Founder and Managing Partner of Cozza Law Group, for a conversation spotlighting a topic owners may be starting to think about, but not yet talk about – business legacy and succession planning.
Learn key framing questions to help you think about business legacy and implications for planning your succession. “What do you want people to say about your business when you're no longer here?”
It’s important to plan for your exit from the beginning. If you want to build a business to stay within your family and you want your kids to be involved, have that discussion early and often.
And if you're not giving yourself a minimum of five years for exit planning, you won’t have enough time to address risk levers and do the planning you need.
Enjoy this Succession Stories episode about business legacy and succession planning with Rocco Cozza.
Listen in to learn more about:
- Critical aspects of planning
- Finding your business legacy
- Ways to mitigate risk as you plan ahead
- Achieving exit success without regrets
Find Rocco here: https://www.cozzalaw.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
_______________________________________
ONLINE MASTERCLASS COMING SOON:
"Endgame Entrepreneurship: Build With The Exit In Mind"
Join the waitlist: https://thebusinesstransitionsherpa.com/course/
Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes John Denny, Principal of Denny Civic Solutions and the first client Laurie brought onto the show.
In this episode, Laurie and John tackle a topic close to Laurie’s heart – succession planning and ownership transition.
Listen in as they explore the keys to successful exits without regrets, the nuances of envisioning your business legacy, and discuss critical aspects of planning for the future.
They also highlighted that planning succession isn't taboo; it's an essential conversation for every business owner's future.
Enjoy this Succession Stories episode on ownership succession and legacy with John Denny.
Find John here: https://www.dennycivicsolutions.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
🌐 Website: https://TheBusinessTransitionSherpa.com
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"
🎙 Podcast: https://podfollow.com/succession-stories
🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes Chuck Goldblum, Founder and Financial Strategist of Hurley Capital.
Today's episode is critical if you’re planning to sell your business. Laurie and Chuck discuss a topic many owners want to know more about – maximizing net proceeds after a sale.
Listen in as they explore tax strategies when you’re planning to sell your business, navigating life after the sale, and pivotal success factors for a regret-free exit.
Being proactive can pay off because you need time to implement these strategies. Plan the work, and work the plan.
Enjoy this Succession Stories episode about post-transaction tax strategies to navigate life after the sale with Chuck Goldblum.
Find Chuck Here: https:/hurleycapital.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host Laurie Barkman, The Business Transition Sherpa™, welcomes Shawn O’Malley, Chief Editor and Financial Writer for "We Study Markets" at The Investor's Podcast Network.
“We Study Markets” financial newsletter has quickly gained traction with 36,000 daily readers at the time of this recording.
The essence of this episode is about organic growth and intrapreneurship – building a new business within an existing enterprise. Shawn is working at the intersection of unmet market potential and Gen Z creativity.
Listen in as Laurie and Shawn discuss the challenges of building a startup within an established company; the power of trust; learning from failures; and how curiosity fosters continuous learning. "When you’re young…it's okay to fail and make a lot of mistakes. As Ray Dalio said, “Pain plus reflection equals growth or progress."
Hear what’s motivating a Gen Z leader early in his career– something many companies strive to better understand for talent development.
Find Shawn O'Malley and "We Study Markets" Here:
"We Study Markets" newsletter: https://westudymarkets.beehiiv.com/
The Investors Podcast: https://www.theinvestorspodcast.com/
Shawn O'Malley on Twitter: https://twitter.com/Shawn_OMalley_
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host Laurie Barkman, The Business Transition Sherpa™, welcomes Ken Rusk, founder of Rusk Industries.
Ken's journey is a blueprint for blue-collar entrepreneurship. He’s on a mission to redefine the narrative around blue-collar jobs in his book, "Blue Collar Cash.”
Laurie and Ken explore the topics of ownership succession, sale to an ESOP, and the legacy hopes to leave on the company and beyond. “We don't live to work, we work so that we can live.”
Stay tuned for an inspiring conversation that might just shift your perspective on work, success, and the journey to building your dream life.
Find Ken Here: kenrusk.com
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes Heather Pearce Campbell, The Legal Website Warrior. Heather equips entrepreneurs with tools to champion positive change and safeguard businesses.
Her passion for working with entrepreneurs extends to her popular podcast “Guts, Grit, and Great Business.”.
Laurie and Heather discuss protecting the transferability of your business assets. It’s as much about legal protection as it is about value protection.
Heather shares ways to protect the assets in your business and proactive problem prevention when the time comes for a business transition.
When you’re building and scaling, you’ll want to close the legal gaps needed to ensure a smooth and lucrative transition in the future.
Find Heather Here: legalwebsitewarrior.com
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host Laurie Barkman, The Business Transition Sherpa(TM), welcomes Tim Scannell, Managing Director, Partner at Hightower Great Lakes. Tim is the Managing Director at Hightower Great Lakes and host of "The Wealth Stream Podcast."
As an expert in proactive wealth management and tax planning, Tim guides families and business owners toward their financial aspirations.
Laurie and Tim pull back the curtain on what a virtual family office is and what value they provide to owners and enterprising families.
Learn how you can prepare for a successful exit and safeguard your assets.The process can take two to three years and you’ll want to get professionals involved up front.
Enjoy this Succession Stories episode to maximize wealth and preserve your financial legacy.
Listen to learn more about:
- Wealth Management Process
- Working With Advisors
- Parallel Path Planning
- What is a Virtual Family Office
Find Tim Here: https://hightowergreatlakes.com/
❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify
_______________________________________
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
_______________________________________
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
Succession Stories host, Laurie Barkman, is joined by Pat Ennis, Founder of Ennis Legacy Partners. With decades of experience in financial services, Pat has extensive understanding of the challenges business owners face.
Because 100% of owners will eventually exit, it's important to understand the 6Ds– risks that can derail a business like death, divorce, and disasters. Understandably these risks can feel like taboo topics so that’s why we’re diving in.
“Owners need a plan to prepare the business to maintain essential functions to avoid potential disaster or crisis.”
Learn why having an ownership contingency plan can enable you to preserve your business legacy, ensure business continuity, and prepare potential successors.
Listen in to learn more about:
- Importance of Planning
- 6 Ds and Business Continuity
- Avoiding Business Dissolution
- Key Planning Steps
Find Pat Here: https://ennislp.com/
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
❤️ Show us the love: Submit a review on Apple Podcasts or Spotify
A majority of small businesses that intend to exit don’t actually sell. A big reason is owner-dependency. A business that can’t thrive without its owner will likely be less desirable to buyers.
Listen in as Succession Stories host Laurie Barkman, The Business Transition Sherpa, talks with Christine Nicholson, an award-winning business mentor in the UK. An expert on exit and succession planning in owner-managed businesses, Christine is the author of four books offering practical advice on running better businesses including her latest book, “SELL IT,” helping business owners get their business and themselves ready for the hardest part of the entrepreneurial journey, leaving their business in the hands of others.
Enjoy this Succession Stories episode to learn why your business won’t sell and what you can fix now.
Find Christine Here: https://www.businessmentoruk.com/
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
❤️ Show us the love: Submit a review on Apple Podcasts or Spotify
Pete Walsh is a Master Coach and a trusted advisor who brings real-life lessons to his family business and executive clients. Pete is the first guest on Succession Stories who turned down next generation succession.
In 1919, Pete’s great uncle and grandfather started Walsh Bros. as a typewriter repair company in the times of the US wild west. As the 3rd generation, Pete joined the business and slowly worked his way up the company ladder. There were lots of owner branches on the family tree, and Pete felt that the road to autonomy and ownership was too much of an uphill journey. He said no to family business succession and ventured out on his own. Years later, the family sold the business to Target Corporation bringing an end to Walsh Bros after a successful 89-year run.
Pete followed his passion for leadership development and coaches family businesses across the US. He is also the author of The Family Business Playbook that includes some timeless advice from his grandfather.
Listen in as Pete joins host Laurie Barkman for a great conversation about family business performance and what it takes to win. Enjoy this Succession Stories episode about turning down the family business with Pete Walsh.
Find Pete Walsh Here: https://familybusinessperformance.com
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
❤️ Show us the love: Submit a review on Apple Podcasts or Spotify
Christopher A. Panagiotu is a respected financial author, podcaster, and trusted wealth manager. His financial planning business in Washington state, CAPitalize Your Finances, led him to create a podcast and book of the same name, “CAPitalize Your Finances: The How-To Financial Framework That Takes You from Compoundingly Clueless to Monetarily Magnificent.”
Chris joins Succession Stories host Laurie Barkman to discuss what eventually all business owners need to determine about their exit and financial future.
Know what you need to live on so you don’t find yourself surprised if the after-tax number doesn’t fully meet your retirement needs.
Listen in as they talk about ways business owners can capitalize for retirement today. Why you should work with an M&A Advisor to reverse engineer what you think you are going to sell that business for, and know what you actually need to live on during retirement -- that way, if there’s a gap you’ll have time to close it.
Enjoy this Succession Stories episode about how business owners can capitalize their retirement with Chris Panagiotu.
Find Chris Here: https://capitalizeyourfinances.com/
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
🎙 Podcast: https://podfollow.com/succession-stories
🌐 Website: https://TheBusinessTransitionSherpa.com
🎥 YouTube: https://www.youtube.com/@successionstoriespodcast
😎 Instagram: https://www.instagram.com/lauriebarkman/
✖️ Twitter: https://twitter.com/LaurieBarkman
😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa
📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
❤️ Show us the love: Submit a review on Apple Podcasts or Spotify
Rick Vanasse advises CEOs and rising leaders as Chair with Vistage, a global membership organization. He’s like a CEO whisperer, creating space for leaders to address strategic questions from an organizational, personal, and business standpoint. Rick chairs Vistage groups in DC, Baltimore, and Annapolis, Maryland.
Listen in as Succession Stories host Laurie Barkman talks with Rick about growth and self-awareness as a leader; taking a strategic view from the balcony; and why strategic transition planning done well includes the emotional and personal side, not just the practical stuff. “Not doing strategic transition planning is as dangerous as not doing strategic business planning.”
Enjoy this episode about not standing in the way of your business growth and transition with Rick Vanasse.
Find Rick Here: Rick.Vanesse@vistagechair.com
My Links:
⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/
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📘 THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1-762-320-2826
❤️ Show us the love: Submit a review on Apple Podcasts or Spotify
This episode provides great questions to help you think about what can protect your business and create wealth. Brian Trzcinski, Director of Business Market Development with MassMutual, joins host Laurie Barkman to discuss questions business owners need to answer to enhance value and reduce risk. Like what would your business be worth today if you died 90 days ago? And why should exit planning begin the day your doors open? Head to SuccessionStories.com for the show notes and transcript to get all the questions you need to be considering. Enjoy this Succession Stories episode about soul-searching questions for exit planning with Brian Trzcinski.
Learn more about:
- The importance of having an exit plan
- Risk Pillars of Success
- The first question business owners need to answer
- How health issues can impact value
- The value of not waiting too long to plan your exit
Show Links:
MassMutual - Resources for Business Owners
SuccessionStories.com
Schedule a call with Laurie Barkman to discuss transition planning: https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1 (762)320-2826
SHOW US THE LOVE:
FOLLOW Succession Stories wherever you listen
WRITE a review on Apple Podcasts
SUBSCRIBE on YouTube
When it comes to family business succession, will dysfunction prevail? Eva Fischer was the chair of the family business, Brunata, one of Scandinavia's largest clean-tech companies, and at the helm during its turnaround. Eva talks candidly with host Laurie Barkman about how the business consumed the family, and caused relationships to become dysfunctional.
Family problems became company problems and there was a negative spiral. Eva was a dark horse in a succession process that eventually led to the sale of the 450+ employee business to a strategic buyer in Germany. Now as a family business advisor and speaker, Eva serves on the board of Family Business Network Denmark, and promotes openness about succession.
There are better paths you can take by having strong communications, succession planning, and good governance. Enjoy this Succession Stories episode about how sibling rivalry disrupted the succession of a family business with Eva Fischer.
Show Links:
evafischer.com
SuccessionStories.com
Learn how Laurie Barkman helps business owners build generational wealth: https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1 (762)320-2826
SHOW US THE LOVE:
FOLLOW Succession Stories wherever you listen
WRITE a review on Apple Podcasts
SUBSCRIBE on YouTube
If you’re a fan of business podcasts, you might know the name John Lee Dumas (JLD), founder and host of the award-winning show, Entrepreneurs on Fire. Since launching in 2012, JLD has interviewed over 3,000 of the world’s most successful entrepreneurs. With over 100 million listens, he’s turned the show into a media empire generating 7-figures of net annual revenue.
JLD joins Succession Stories host Laurie Barkman to talk about business and personal legacy. What does it take to create a business that leaves a lasting legacy? It involves doing things today that lay the foundation. When the time comes, you will be ahead of the game- and you can do it the right way.
Enjoy this new Legacy Series of Succession Stories and why if you're looking to create a legacy, it's time to get intentional with John Lee Dumas.
Show Links:
Entrepreneurs On Fire: www.EOFire.com
SuccessionStories.com
Learn how Laurie Barkman helps business owners build generational wealth: https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1 (762)320-2826
SHOW US THE LOVE:
FOLLOW Succession Stories wherever you listen
WRITE a review on Apple Podcasts
SUBSCRIBE on YouTube
Ryan Dusick is the founding drummer of Maroon 5, one of the world’s most popular bands. In the nineties, Ryan and his high school buddies Adam Levine and Jesse Carmichael dreamed about making it big…and they did!
Ryan joins host Laurie Barkman to talk about his book, “Harder to Breathe: A Memoir of Making Maroon 5, Losing It All, and Finding Recovery.”
Just as his career was taking off, Ryan left the band after suffering from a breakdown on the Grammy award-winning “Songs About Jane” tour in 2005. After a decade, he pursued a path of recovery and new life full of meaning, purpose, and fulfillment. Now working as a mental health professional, Ryan is spreading the message that recovery is possible and some astounding things can come with it.
When you spend years architecting your life around a goal and suddenly it’s gone, it’s understandable that you may face an identity crisis and depression. Accepting the reinvention process enabled Ryan to let go of the past and embrace a new future.
Enjoy this special “What’s Next” Succession Stories episode about exit and recovery with Ryan Dusick.
Show notes:
- Ryan Dusick website: https://www.ryandusick.com
- Take a Personal Readiness Assessment for business transition: https://bit.ly/personal-readiness-to-exit
Learn how Strategic Business Transition Planning drives value and clarity by visiting https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1 (762)320-2826
SHOW US THE LOVE: RATE + FOLLOW THE SHOW
SUBSCRIBE to Succession Stories wherever you listen and YouTube
Write a review using Rate This Podcast
https://ratethispodcast.com/successionstories
When is the right time to transition your business? Bill Spohn, President and Owner of TruTech Tools, plans to retire in three years. TruTech Tools is an award-winning e-commerce reseller of tools and test instruments for HVAC and building performance professionals. He’s working on making the company less dependent on him by adding capable leaders, documenting workflows, and keeping a notebook of ideas. Bill joins host Laurie Barkman on Succession Stories for a "Legacy Series" conversation how entrepreneurs can start plan your future exit and benefit from talking about it.
Listen in to learn more about:
- Ensuring your business can thrive without you
- Hiring the right talent
- Portfolio approach to building wealth
- When to start transition planning
- Why it's good to talk about your exit intentions
- Documenting workflows and standard operating procedures (SOPs)
Guest and show notes:
- Bill Spohn LinkedIn: https://www.linkedin.com/in/billspohn/
- Building HVAC Science Podcast: www.buildinghvacscience.com
- Download a guide to better SOPs: https://bit.ly/SOPGuide
Learn how Strategic Business Transition Planning with Laurie Barkman can bring clarity to your biggest succession questions by visiting https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:
https://thebusinesstransitionhandbook.com
OR text TRANSITION to +1 (762)320-2826
SHOW US THE LOVE : RATE + FOLLOW SUCCESSION STORIES
SUBSCRIBE wherever you listen and follow on YouTube
Write a review using Rate This Podcast
https://ratethispodcast.com/successionstories
What do small business owners wish they had done differently before selling? While the attention on billion dollar mergers and acquisitions, detailed information about acquisitions of smaller businesses is harder to find. Alexis Grant launched an online media platform, They Got Acquired, to help founders understand deal-making in the lower middle market. It’s valuable to think about your potential exit even if it's years away. Lexi joins host Laurie Barkman on Succession Stories to discuss how to set up your business for a successful sale regardless of its size.
Listen in to learn more about:
- Lessons from owners who have sold their businesses
- Handling the transition from entrepreneur to employee
- How to be better prepared personally to sell
- How to increase the transferability of your business with structured systems
Guest and show notes:
theygotacquired.com/newsletter
Succession Stories Episode 82: John Warrillow
Learn how Strategic Business Transition Planning with Laurie Barkman can bring clarity to your biggest succession questions by visiting https://thebusinesstransitionsherpa.com
THE BUSINESS TRANSITION HANDBOOK:
To get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman go to: https://thebusinesstransitionhandbook.com or text TRANSITION to +1(762)320-2826
SHOW US THE LOVE : RATE + FOLLOW SUCCESSION STORIES
SUBSCRIBE wherever you listen and follow on YouTube
Write a review using Rate This Podcast
Are you prepared for the emotional realities of succession planning? Regina Beatty, an advisor with the financial planning group, Heritage Financial Consultants, joins Laurie Barkman on Succession Stories to discuss how to prepare and transition a business to the next owner, while navigating the financial and emotional challenges associated with transitioning from a family-owned business.
Listen in to learn more about:
- Top concerns for business owners looking to exit
- How to minimize the tax impact of succession
- How to start a legacy plan
Guest notes:
- distinctivewealthstrategies.com
- Regina.Beatty@LFG.com
- Regina Beatty is a Registered Representative of Lincoln Financial Advisors. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor.
More business transition resources:
Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
Follow the Succession Stories YouTube Channel
Follow Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
If you enjoy Succession Stories, please leave a review. Reviews help us reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.
https://RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction.
Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
If your goal in life is to have no regrets, what are the things you need to address now to be happy about your business transition? Bruce Werner, family business advisor and author of “The Ownership Journey,” joins Laurie Barkman on Succession Stories to discuss how a board of advisors or family board can help with the growth and transition of your business. They also explore common issues owners face with life after the deal. You can make more money, but you can't make more time.
Listen in to learn more about:
- Fiduciary boards vs. family boards
- Understanding the generational differences in ownership
- How to hire a new CEO
- The importance of succession planning
- Defining your purpose and social structure
- Advice for business owners thinking about creating a board
Show links:
- Bruce Werner email: bruce@konaadvisors.com LinkedIn: https://www.linkedin.com/in/brucedwerner/ Website: Brucewerner.com
- Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
- Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
- Follow the Succession Stories YouTube Channel
- DM Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.
RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
For any business, regardless of size, innovation is an essential part of growth. We live in the age of entrepreneurs who are disrupting large companies more than the large companies are disrupting each other. Technologies like generative AI are enabling us to create value at a rapid pace. How do we explore new ideas that can drive radical value for your customer?
Succession Stories host, Laurie Barkman, talks with Mike Stemple, the Amazon best-selling author of two books, “Million Dollar Ideator: The Surprisingly Simple Way to Quickly Create Profitable Ideas” and “Innovating Innovation: Why Corporate Innovation Struggles in the Age of the Entrepreneur.” His ideas have created millions in revenue and helped millions of people.
Mike’s journey of creativity, curiosity, and innovation began with a life-altering event– an accident that ended one chapter of his life but opened another. He’s a successful entrepreneur who has built more than 20 companies and products including Skinit and 3M Original Wraps– those vinyl stickers you can put on tech devices like ear pods and phones.
Mike shares a unique story about Skinit that will inspire you. It’s a moving story that illustrates his belief that innovation is about solving problems for customers.
Enjoy this Succession Stories episode that just might inspire your next million dollar idea!
Listen in to learn more about:
- Rejuvenating innovation in mature companies
- A philosophical perspective on technology and innovation
- Building a business driven by innovation and problem-solving
- Have a radical love for the customer
- The 200-hour rule for shaping ideas and innovating
- Buy versus build approach to innovation
Show links:
- www.mikestemple.com
- Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
- Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
- Follow the Succession Stories YouTube Channel
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy.
Please click here to leave a review: RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
The earlier you plan for life after exiting your business, the more successful your transition will be. Determine your post-exit goals and work towards a number that helps you achieve your preferred lifestyle. Anna Felix, Smart Money Strategist with StrongHold Wealth Partners, talks with host Laurie Barkman about long-term incentives that owners might consider to retain and reward key employees.
Listen in to learn more about:
- Find the number; how much do you need to live on after exiting your business
- When to find out what your business is worth
- Employee retention and golden handcuffs
- How much should an employee expect to receive
Show Links:
- Annafelix.com
- Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
- Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
- Follow the Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.
RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Ben Rizzo, Founder of Hartwood Point, makes direct private investments across the US and UK, primarily in operator-led buyouts. Ben talks with Succession Stories host, Laurie Barkman, about acquisitions, and how he turned around a distressed business and sold it in just two years. Having experience on both sides of M&A deals, Ben shares practical tips for business owners and acquisition entrepreneurs. Owners will gain insights about what you can do now to get your business sell-ready and be better prepared for a great exit when the time comes to sell.
Listen to learn more about:
- Getting started as an acquisition entrepreneur
- How to look for recurring revenue
- Transitioning from family business to a new owner
- What an M&A process entails
- Selling to a private equity buyer
- Advisor network for acquisition deals
- Advice for small business owners looking to sell
Show links:
- Ben Rizzo: Ben@Hartwoodpoint.com Website: https://www.hartwoodpoint.com/
- How will you decide when to sell? Text 'Transition' to +1-646-495-9867 to get the EndGame eBook.
- Follow the Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Get your copy of Laurie Barkman's book, “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.
RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
When selling your business, it’s the net number that counts. Succession Stories host Laurie Barkman focuses on tax strategies to consider when selling a business and speaks with two colleagues from Wessel & Company, a regional tax and accounting firm in Pennsylvania- Joel Valentine, President and CEO, and Christopher Weir, Partner. Wessel provides corporate tax, business valuations, mergers and acquisitions, and ESOP advisory services. For anyone thinking about selling in the future, the advice is to treat your business like it’s for sale every day. In a transaction, we want to maximize the top number and also maximize after-tax proceeds. After all, it’s the net number that counts.
Listen in to learn more about:
- Ways to minimize the tax burden of selling a business and maximize overall value.
- Strategies to consider when selling a business
- Minimizing post-transaction tax obligations
- Differences bewteen reviewed and audited financials
- How businesses can benefit from ESOPs (Employee Stock Ownership Plans) as an ownership succession planning tool
Show links:
- Wessel & Company website: https://www.wesselcpa.com/
- Complete a Value Builder Business Assessment at MyTransitionScore.com
- Get your copy of “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
- Decide When to Sell eBook: https://bit.ly/endgame-ebook
- Follow the Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review: RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Solocast with Laurie Barkman, show host and business transition sherpa. Laurie discusses a critical owner succession pitfall to avoid. You don't know what you will do after you leave the business. Personal readiness is an important aspect of business transition planning, and it's often overlooked. Being emotionally unprepared for the transition can lead to feelings of loss and a lack of purpose. Many owners struggle with the decision within 12 months of selling their business. What can you do now to avoid succession regrets?
Listen in to learn more about:
- Why owners feel pushed out of their business when they leave
- Key drivers for exiting without regrets
- Know what's important to you for personal transition
- Seller notes, earnouts, and recapitalization strategies
- Take a personal readiness to exit assessment
Show Links:
- Complete Personal Readiness Assessment at MyTransitionScore.com
- Order “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
- Subscribe to Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter-- text Transition to +1-646-495-9867
If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.
RateThisPodcast.com/successionstories
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
What is it like to sell your same business twice? As CEO of a pharmacy software company, Tim Tannert led the business through two successful transactions. Key to their success was having a differentiated niche and strong market position. This enabled them to construct a sale process where they could select a partner that was the best fit. Tim talks about being open and honest with yourself. Evaluate your team and business to find the resources you need to take the company to the next level. Ultimately, Tim’s company selected a partner that had the size, scale, and infrastructure to achieve their goals.
Today Tim works with companies to develop success strategies as an EOS Implementer. This episode focuses on a key decision step for owners: determining who should own your business after you. Enjoy this Succession Stories episode about evaluating your business to find the right buyers with Tim Tannert.
Listen in to learn more about:
- Getting a second bite at the apple through follow-on exit to strategic buyer
- Developing market niche and recurring revenue
- Creating a bid process for an exit
- Finding right fit for potential buyers
- Lessons learned from the diligence process
- For more info on this topic, pick up a copy of Laurie Barkman’s new book, “The Business Transition Handbook”
If you enjoy Succession Stories, please leave a 5-star rating and review on Apple Podcasts!
Show links:
- https://www.eosworldwide.com/tim-tannert
- Complete a Value Builder Business Assessment at MyTransitionScore.com
- Order your copy of “The Business Transition Handbook,” an Amazon best-seller https://amzn.to/3Hqj2eo
- Decide When to Sell eBook: https://bit.ly/endgame-ebook
- Follow the Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Get your copy at: www.theBusinessTransitionHandbook.com
Start your business transition plan by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Most successful business owners spend their time running their business. Their expertise is not planning how to exit, or planning what might happen to the company, their family, employees or customers if something unexpectedly happens to them. That is the expertise of Pass It On, Inc. Laurie Barkman speaks with father-daughter team, Don See and Misty Meschter. Since 1947, their company has helped families think through the options and potential outcomes of passing it on, and they have forged their own journey through three generations of succession. They design plans and funding arrangements to protect family businesses from the financial disasters that can jeopardize survival.
Listen in to learn more about:
- Difference between succession planning, exit planning, and contingency planning
- Why your plan will continually change and how to adapt
- When you should bring your kids into the business (and when you shouldn’t)
- Strategies that answer the problems introduced by the classic forms of planning
- How to structure internal transfers and anoint your successors with buy-sell agreements
Show links:
- Order “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
- Decide When to Sell eBook: https://bit.ly/endgame-ebook
- Subscribe to Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Get your copy at: www.theBusinessTransitionHandbook.com
Start your business transition plan by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Solocast with Laurie Barkman, show host and business transition sherpa. In this solocast, Laurie talks about her new book, "The Business Transition Handbook," and discusses a critical owner succession pitfall to avoid – your company needs you too much. A business that relies too heavily on the skills or relationships of the owner is a less transferable and valuable business. Laurie dives into seven ways you can reduce or eliminate value-crushing dependencies by minimizing value derailers and preparing for future ownership succession. Regardless of when you intend to exit, you will benefit by following these time-tested best practices to create a more profitable and enjoyable business to run today.
Show Links:
- Complete a Value Builder Business Assessment at MyTransitionScore.com
- Order “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
- Get a free Business Transition Toolkit. Download secrets to a successful exit. thebusinesstransitionhandbook.com
- Download 4 Degrees of Delegation eBook: https://bit.ly/4DegreesDelegation
- Subscribe to Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Get your copy at: www.theBusinessTransitionHandbook.com
Start your business transition plan by visiting: https://thebusinesstransitionsherpa.com
______________________________
SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
When it comes to evaluating the risk profile of a business, buyers look at the potential pitfalls starting with cash flow. Cliff Spolander, author of The Cash Flow Code, is the CEO of Business By Design, an exit planning advisory company in the UK. He has started, bought and sold several companies across a range of sectors including retail, education, health and construction. Cliff helps business owners strike a balance between protecting cash flow and profit margins, while growing their business. Laurie Barkman talks with Cliff about the importance of improving cash flow as a key step towards getting your business exit-ready and creating the transferable value that every buyer is seeking. Enjoy this Succession Stories episode to help you improve cash flow and reduce risk in your business with Cliff Spolander.
Show links:
Cliff Spolander on Linkedin: www.linkedin.com/in/cliffspolander/
Website: www.businessbydesign.co.uk
The Smarter SCALE-UP: https://www.thesmarterscaleup.com/
Saleability Test: https://www.saleabilitytest.com/
Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Subscribe on YouTube: Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Get your copy at: www.theBusinessTransitionHandbook.com
Learn more about strategic business transition planning at https://smalldotbig.com
______________________________ SHOW SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
US Army Veteran Stephen Bollinger is a serial entrepreneur in the medical device industry. Stephen’s superpower is discovering market opportunities to help people live better lives. During his career, he sold three medical device companies. He found a market niche by increasing the availability of medically proven approaches. Enjoy this “What’s Next” Succession Stories episode about finding a passion that makes an impact with vetrepreneur Stephen Bollinger.
Listen in to learn more about:
- Achieving success through connection with customers
- Deriving opportunity from challenges
- Finding your niche
- Developing viable products that address consumer needs
Show links:
www.userevive.com
sbollinger@userevive.com
https://www.linkedin.com/in/lauriebarkman/
Learn more about business transition planning at https://smalldotbig.com
Visit www.meetlauriebarkman.com to request a business exit readiness assessment
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories, hosted by Laurie Barkman, is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
Join our community of owners! Subscribe to the Business Transition newsletter at https://smalldotbig.com
Get a copy of Laurie's book, "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options"
www.theBusinessTransitionHandbook.com
_________________________________ SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Automation can free up hundreds of hours per individual employee every year. Better systems create operational efficiencies that make businesses more scalable. Shanice Miller is a business productivity consultant, specializing in project management, who helps clients ranging from small startups to multi-million dollar businesses save hundreds of hours and thousands of dollars. Over the last 10 years, Shanice has used her ability to identify operational inefficiencies and create solutions to not only help save her clients’ businesses (and hairlines), but to also fall in love with them again with simple, effective systems for hire.
Listen in to learn more about:
- How the right systems can lead to faster, more valuable liquidity events
- Avoiding burnout through more effective systems
- Mapping out the owner’s role in the marketing, sales, and client delivery systems
- Streamlining existing processes for productivity and efficiency
- The value of process documentation
Show links:
https://tasklygroup.com/laurie
https://score.valuebuildersystem.com/landing/the-definitive-guide-to-sops-ebook-landing-page/ea7431c2-4b12-4961-ba15-fed4981ba28a
https://content.workmarket.com/2020-insight-report-what-ai-automation-mean-for-work/
https://smalldotbig.com/succession-stories-podcast/sell-or-transition-your-business-podcast/e54-scaling-and-selling-a-services-business-kevin-urrutia-ceo-voy-media/
https://smalldotbig.com/succession-stories-podcast/81-how-to-productize-your-services-andy-cabasso/
Social links:
Connect with Shanice on LinkedIn: https://www.linkedin.com/in/shanicemiller/
Connect with Laurie on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go. The show received the 28th Annual Communicator Award for Audio & Podcast Excellence and is ranked in the top 2.5% of podcasts globally.
Join host Laurie Barkman, The Business Transition Sherpa, as she talks with entrepreneurs, family business leaders, investors, and industry experts as they explore the journey from business growth and innovation, creating a more valuable and transferable business, and avoiding succession regrets when exiting and selling your company.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
To learn more and subscribe to our newsletter, visit https://smalldotbig.com
_______________________________________ FEATURED SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
In today's solocast, I discuss topics from my upcoming book, The Business Transition Handbook The focus of the book is how to avoid succession pitfalls. Prepare yourself and your company to minimize value derailers, and prepare for a future transition. Regardless of when you intend to exit, you will benefit by following these time-tested best practices to create a more profitable and enjoyable business to run today. 100% of owners will leave their business one day - but few are prepared.
Take-aways:
- Having a written plan is essential for achieving the desired outcome in a business transition.
- It is important to have a positive mindset when considering a business transition, as this can lead to better outcomes.
- Business transition involves three key areas: business readiness, financial readiness, and personal readiness. It is important to consider all three when planning a successful transition.
Show Links:
Sign up to pre-order The Business Transition Handbook: Businesstransitionhandbook.com
Book an Advisory Call: https://smalldotbig.com/schedule-an-initial-call/
Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Learn about Strategic Business Transition Planning at https://smalldotbig.com
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go. The show received the 28th Annual Communicator Award for Audio & Podcast Excellence and is ranked in the top 2.5% of podcasts globally.
Join host Laurie Barkman, The Business Transition Sherpa, as she talks with entrepreneurs, family business leaders, investors, and industry experts as they explore the journey from business growth and innovation, creating a more valuable and transferable business, and avoiding succession regrets when exiting and selling your company.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
To learn more and subscribe to our newsletter, visit https://smalldotbig.com
_______________________________________ SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Succession Stories host Laurie Barkman talks with Tsitsi Mutendi about addressing the challenges of entrepreneuring families. Tsitsi is an internationally recognised Family Business Expert and Family Office Advisor focused on building multigenerational family wealth. Two past generations of her family were entrepreneurs but faced various challenges. Tsitsi did not inherit financial wealth but did inherit the entrepreneurial spirit to build three of her own businesses in Zimbabwe. Tsitsi is also the co-founder of African Family Firms, an association for Family Businesses operating on the African continent. She is motivated to help family-led companies with their family systems and business systems, and be able to pass on their wealth— whether it's wealth of knowledge, wealth of assets, or wealth of experience, from generation to generation.
Show Links:
http://tsitsimutendi.com/
Nhakalegacy.com
AfricanFamilyFirms.org
https://www.linkedin.com/in/tsitsimutendi/
https://www.linkedin.com/in/lauriebarkman/
Succession Stories YouTube Channel
Learn more about business transition planning at https://smalldotbig.com
Visit www.meetlauriebarkman.com to request a business exit readiness assessment
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go. The show received the 28th Annual Communicator Award for Audio & Podcast Excellence and is ranked in the top 2.5% of podcasts globally.
Join host Laurie Barkman, The Business Transition Sherpa, as she talks with entrepreneurs, family business leaders, investors, and industry experts as they explore the journey from business growth and innovation, creating a more valuable and transferable business, and avoiding succession regrets when exiting and selling your company.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
To learn more and subscribe to our newsletter, visit https://smalldotbig.com
Support the show on Patreon: https://www.patreon.com/lauriebarkman
_________________________________ SPONSOR: STONY HILL ADVISORS
Is this the year to sell your company? Don't leave your exit to chance. Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
What can go wrong if you wait too long to plan your exit strategy? Executive coach and organizational consultant, Bill Prinzivalli, joins Succession Stories host Laurie Barkman to discuss why your entrepreneurial journey is not just the start but also the exit. Bill grew a software company to a $30 million valuation but eventually, the doors of opportunity closed and so did the company. Bill shares the highs and lows of his journey and lessons learned along the way.
Listen in to learn more about:
- Having an exit strategy throughout the lifetime of your business
- Knowing how long you want to work in the business
- Planning for the transition
- Having trusted advisors to lean on
- Surrounding yourself with a trustworthy team
Show links:
https://billprinzivalli.com/
Learn more about business transition planning at https://smalldotbig.com
Visit www.meetlauriebarkman.com to request a business exit readiness assessment
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go. The show received the 28th Annual Communicator Award for Audio & Podcast Excellence and is ranked in the top 2.5% of podcasts globally.
Join host Laurie Barkman, The Business Transition Sherpa, as she talks with entrepreneurs, family business leaders, investors, and industry experts as they explore the journey from business growth and innovation, creating a more valuable and transferable business, and avoiding succession regrets when exiting and selling your company.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
To learn more and subscribe to our newsletter, visit https://smalldotbig.com
Support the show on Patreon: https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
How can you position your family’s business to successfully transition between generations and begin to grow for the future? Innovation, transition, growth. These are the key drivers of disruptive succession that help businesses evolve and continue to thrive.
This week on Succession Stories, Jonathan Goldhill joins host Laurie Barkman for a conversation on moving businesses forward in the face of change. Jonathan is the founder of Goldhill Group which has been serving closely-held and family businesses for over three decades.
Drawing from his experience as a strategist and consultant, Jonathan is also the author of Disruptive Successor: A Guide for Driving Growth in Your Family Business. Jonathan advises closely held and family-owned businesses on this challenge. His passion for advising next gen entrepreneurs ignited when his family’s business, one of the largest manufacturers of men’s clothing in the US, ceased operations and failed to survive into the fourth generation.
Learn about how next-gen leaders can scale up as they take over the leadership and ownership of the company. Enjoy my conversation about how disruptive successors can position your business for next generation success with Jonathan Goldhill.
Listen in to learn more about:
- Evaluating potential partners prior to a partnership venture
- Challenges facing multi-generational succession
- Viewing succession from an outsider’s perspective
- Developing a business identity beyond the founder
- Building a team of trusted people to help the business navigate succession
- Effectively governing family businesses
Show Links:
https://www.thegoldhillgroup.com/
Learn more about business transition planning at https://smalldotbig.com
Visit www.meetlauriebarkman.com to request a business exit readiness assessment
Subscribe to the Succession Stories YouTube Channel
About Succession Stories Podcast:
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. From building value to letting go. The show received the 28th Annual Communicator Award for Audio & Podcast Excellence and is ranked in the top 2.5% of podcasts globally.
Join host Laurie Barkman, The Business Transition Sherpa, and founder of SmallDotBig, a strategic growth and M&A advisory firm, in weekly conversations with entrepreneurs, family business leaders, investors, and industry experts as they explore the journey from business growth and innovation, creating a more valuable and transferable business, and avoiding succession regrets when exiting and selling your company.
If you are an entrepreneur looking for inspiration to create a more valuable business, or an owner who wants to figure out the best way to transition or sell their closely held company, this podcast is for you.
To learn more about Laurie and subscribe to our newsletter, visit https://smalldotbig.com
Support the show on Patreon: https://www.patreon.com/lauriebarkman ______________________________________________________________________
Thanks to our show sponsor, Stony Hill Advisors
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell. Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Catch up on the Succession Stories Podcast with highlights from recent episodes. Host Laurie Barkman spotlights the challenges of business transition, M&A exits, and succession in this special Rewind episode. Topics include building a more sellable business with Jeffrey Feldberg, how to value a business with Fred Kaplan and Kristi Poszlusny, and spotting hidden risk factors in business transferability with Rebecca Monet.
Whether you’re a long-time listener or new to the show, subscribe to Succession Stories in your favorite podcast player, and on YouTube, so you don’t miss any episodes. You can always go back and listen to earlier shows in the catalog. Enjoy today’s Rewind episode of Succession Stories.
Show Links:
Succession Stories E105:
https://smalldotbig.com/succession-stories-podcast/105-skills-to-build-your-business-are-not-same-to-sell-it-jeffrey-feldberg/
Succession Stories E104:
https://smalldotbig.com/succession-stories-podcast/104-business-valuation-benefits-and-myths-fred-kaplan-and-kristi-posluszny-stony-hill-advisors/
Succession Stories E:107
https://smalldotbig.com/succession-stories-podcast/107-making-your-business-transferable-rebecca-monet/
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, The Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
A.J. Lawrence is the host of the Beyond 8-Figures Podcast. Having sold several companies for 7-figure exits, A.J. continues to explore opportunities to reach $10 million and beyond and calls himself a journeyman entrepreneur finding joy in learning from others and implementing these insights.
Listen as host Laurie Barkman talks with A.J. about his experience building and selling businesses, dealing with issues, and finding a new path in acquisition entrepreneurship.
A.J. has an appreciation for learning from other entrepreneurs and how to deal with issues. You may feel that you're the only one having tough times, and that everyone else is succeeding. By listening to stories about how other entrepreneurs are on their journey, it becomes easier to see that it can be done.
Show Links:
www.beyond8figures.com
www.Ajlawrence.com
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, The Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
If you’re planning to sell your company one day, how transferable would it be to a new owner? Rebecca Monet joins host Laurie Barkman to share her story about building businesses, letting go, and tough lessons she learned along the way. Rebecca is the CEO and Chief Scientist of Zorakle Profiles. With her prior company, she developed intellectual property that fostered sales growth and a strong client relationship. What could have become a channel of growth unexpectedly became her biggest risk. Having trusted advisors on your side can help avoid unforeseen pitfalls like these.
Listen in to learn more about:
- Building a business with a view to exit
- Seeking trusted advisors to avert costly mistakes
- Potential red flags in contractual agreements
- Separating your identity from your business
- Finding your niche
- Making your business teachable and transferable
Show Links
https://www.zorakleprofiles.com/
https://www.linkedin.com/in/rebeccamonet/
Succession Stories E4 Chris Cynkar
Succession Stories E28 Laura Coe
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, The Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
__________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
___________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Much like a warrior, being an entrepreneur entails risk, struggle, grit, and bravery. How can you muster strength to push through even the greatest odds? On this episode, Zachary Green joins host Laurie Barkman to unpack how warrior principles can be applied to business. Zachary is a U.S. Marine Corps veteran and the founder and former CEO of MN8 LumAware/Foxfire. He grew the company from the trunk of his car to over $30 million in organic sales. His book, Warrior Entrepreneur, revolves around the science of growth that comes from challenge and adversity. These hardships prepare you for your crucible- the crisis that changes your life’s trajectory.
Listen in to learn more about:
- Growing from adversity
- Market solutions to pain points, not the features
- Founder stepping back from the business to let it grow
- Value of advisory boards
- Addressing cash flow challenges for small businesses
Show links:
https://www.warriorentrepreneurbook.com/
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, The Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
How do you master something you've never done before, like selling your business? Entrepreneurs don’t start and build their companies on their own. And neither should they plan their business transition or exit strategy without trusted experts in their corner.
Jeffrey Feldberg is the Co-founder and CEO of Deep Wealth, a company that helps business owners learn how to prepare for a maximum-value exit.
Jeffrey founded and scaled an eLearning company, Embanet, with his partners and eventually sold the business. Incredibly, they rejected the first offer for seven figures, but ended up selling it two years later for nine figures.
Jeffrey tells the story behind the story of this impressive accomplishment.
Key to his success was understanding that the skills that he used to build his business were not the same skills to sell it. Having excellent advisors and preparing before a merger or acquisition also can help you increase the value.
You have one chance, don't gamble with your future. If you're thinking about selling your company one day, you’ll want to take lots of notes. Enjoy this week’s Succession Stories with Jeffrey Feldberg.
Show Links:
www.deepwealth.com
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, The Business Transition Sherpa-- guiding business owners from transition to transaction. From building value to letting go. Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
98% of business owners don’t know what their business is worth. It’s risky not to know what the value of your business is since it may be the largest piece of your net worth. This can be a problem for owners who are not able to recoup their investment when they want to retire.
Kristi Posluszny and Fred Kaplan from Stony Hill Advisors join host Laurie Barkman to discuss business valuations. Stony Hill is a mergers and acquisitions advisory firm for small to mid-size companies across the US.
Kristi has a background in Investment Banking and Middle Market M&A with a focus on advising companies through a sale process to both strategic and financial acquirers. Fred is a former middle-market CFO and financial consultant, and has advised companies and performed due diligence on M&A and investment transactions in various industries.
Listen in as they discuss common myths around business valuation, valuation methodologies, and why it’s important to measure value.
Show Links
Stony Hill Advisors: www.stonyhilladvisors.com
Kristi Lutes Bio: https://stonyhilladvisors.com/kristi-lutes
Fred Kaplan Bio: https://stonyhilladvisors.com/fred-kaplan
Stony Hill Valuation Webinar on YouTube: https://www.youtube.com/watch?v=OkRo64JIKjs
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Health and happiness after selling your company is often ignored. Business owners race hard to maximize monetary returns, but is it the ultimate finish line? This week on Succession Stories, Mark Fujiwara joins Laurie Barkman for a conversation about the succession journey. Mark Fujiwara is a Director at Baird, bringing solutions to 8-figure and 9-figure families and businesses. Working with many clients over the past 30 years who have been through succession and business exits, Mark has seen first-hand how selling the business means more than just the dollar amount of the transaction.
Listen in to learn more about:
- Multi-family offices - what they are and how they function
- The challenges of navigating succession and transition alone
- Preparing for M&A transitions on an emotional level
- Importance of pre-M&A planning
- Goal setting beyond financial outcomes
Show links:
markfujiwara.com
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Succession Stories welcomes Nike Anani back to the show. Nike is an international award-winning entrepreneur, succession specialist, and legacy planning expert for future-focused business families. She’s the host of The Connected Generation, a top 10 podcast for family enterprises globally. Nike joins Laurie Barkman for a conversation on how families can better connect, collaborate, and create to encourage diversity of thought to co-create the businesses of the future that they envision.
Listen in to learn more about:
- Why founders need to invest in relational factors for smooth transition
- Having conversations on the future of the business early enough
- The importance of connection and emotional proximity
- How empathy fosters collaboration and co-creation
- The difference between legacy and sustainability, transforming and transition
Show links:
nikeanani.com/book
Nike Anani Succession Stories E60: https://smalldotbig.com/succession-stories-podcast/60-founder-succession-to-the-next-generation-nike-anani/
Laurie Barkman on Connected Generation Podcast E100: https://smalldotbig.com/succession-stories-podcast/innovative-growth-podcast/innovation-growth-and-selling-the-family-business-laurie-barkman-on-the-connected-generation-podcast/
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Succession Stories welcomes Nike Anani back to the show. Nike is an international award-winning entrepreneur, succession specialist, and legacy planning expert for future-focused business families. She’s the host of The Connected Generation, a top 10 podcast for family enterprises globally. Nike joins Laurie Barkman for a conversation on how families can better connect, collaborate, and create to encourage diversity of thought to co-create the businesses of the future that they envision.
Listen in to learn more about:
- Why founders need to invest in relational factors for smooth transition
- Having conversations on the future of the business early enough
- The importance of connection and emotional proximity
- How empathy fosters collaboration and co-creation
- The difference between legacy and sustainability, transforming and transition
Show links:
nikeanani.com/book
Nike Anani Succession Stories E60: https://smalldotbig.com/succession-stories-podcast/60-founder-succession-to-the-next-generation-nike-anani/
Laurie Barkman on Connected Generation Podcast E100: https://smalldotbig.com/succession-stories-podcast/innovative-growth-podcast/innovation-growth-and-selling-the-family-business-laurie-barkman-on-the-connected-generation-podcast/
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
We're rewinding the first 100 episodes of the Succession Stories Podcast. Host Laurie Barkman shares favorite clips spotlighting key themes of the show– innovation, growth, and transition. Today's Rewind topics include next generation leadership, corporate innovation, enterprise value scorecards, and succession.
Show Links:
- Lisa Laird Dunn and Gerard Dunn, Laird & Company (E34)
- Karen Norheim, American Crane and Equipment Corporation (E50)
- Steve Peplin, Talan Products (E69)
- Beth Miller, Executive Velocity (E74)
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
_______________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
_______________________________________ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Celebrating the 100th episode of Succession Stories!
Guest host Lou Diamond interviews Laurie Barkman to reflect on the journey of the show, favorite episodes, and more milestones to come.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction." Subscribe to Succession Stories and share a review if you enjoy the show!
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at: www.meetlauriebarkman.com
___________________________________
Become an Official Patron of Succession Stories Podcast:
https://www.patreon.com/lauriebarkman
___________________________________
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
How do you handle unexpected tragedy when an owner passes away? Jennifer Ake Marriott is the second generation President of Ake Environmental, a company founded by her father. She is also the CEO of Redmond Waltz, the first non-family leader of the privately held company.
Jenn joins host Laurie Barkman to share her experience with two companies that went through unexpected succession, what helped the companies move forward, and what derailed progress. This episode will help you think about business continuity and how to mitigate risks of an unexpected transition.
Listen in to learn more about:
- Recovering from loss in a family business
- Involving employees in the succession process
- Handling changes in company culture
- How small businesses can benefit from strategic plans
- Reducing disruption with process documentation
- Why it's important to have conversations around succession planning
Show Links:
jmarriott@redmondwaltz.com
https://redmondwaltz.com/
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
What are the top pitfalls to avoid when choosing business partners? Australian business leader, Troy Trewin, joins Laurie Barkman to discuss finding the right fit, setting up a partnership for success, and having an exit door if things go sideways.
Troy has started, acquired, and grown 14 businesses working with 28 business partners in Australia, New Zealand and the United Kingdom in various industries including technology, spirits, and construction. He hosts the Grow a Small Business podcast and leads a business owner community in Australia.
Listen in to learn more about:
- Finding alignment between founders and partners to create value
- Importance of shared values and work ethic
- Shareholders agreements
- Role of board of advisors and good governance
Show links:
https://www.growasmallbusiness.com/
https://www.linkedin.com/in/troytrewin/
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Meredith Meyer Grelli is the co-founder of the Wigle Whiskey Distillery. In 2010, Meredith and her family decided to open a distillery in the City of Pittsburgh as the first one since Prohibition. Naming their whiskey after the leader of the 1794 Whiskey Rebellion, Phillip Wigle, they needed Pennsylvania’s laws to change before opening their doors. Over the past 12 years, their patience and innovation paid off. Wigle has been the most awarded craft whiskey distillery for five consecutive years. Meredith joins host Laurie Barkman for a conversation on innovation – from creating a robust product development process for growth, to innovating from a people perspective, to managing challenging labor dynamics.
Listen in to learn more about:
- How to foster innovation
- Building a culture of customer empathy
- Achieving higher employee retention
- Optimizing performance management
- Shifting from a hands on role and empowering the next generation of leaders
- Hiring to your strengths
Show Links:
wiglewhiskey.com
threadbarecider.com
linkedin.com/in/mmgrelli
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Succession isn’t something you wish to happen, it’s something you plan for. Deena Chochinov joins Laurie Barkman to share her 30+ years as a family enterprise advisor and discuss her new book, “HomeWork: How to Be a Leader in the Boardroom and the Living Room.” Deena works to strengthen family businesses by addressing succession derailers that get in the way of finding key pieces of the succession puzzle.
Listen in to learn more about:
- Successfully navigating the emotional side of business transition
- Creating formal processes for succession
- Avoiding flawed leadership models
- Equipping next gen leaders through professional development
- Preparing your business for the future
- Increasing business value through proactive succession planning
Show Links:
https://www.deenachochinov.com/
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Gabriela Isturiz is a tech entrepreneur who bootstrapped two SaaS businesses that were successfully sold to Fortune 500 companies. Gaby pursued innovation in a mature industry and found a market niche in legal tech. She shares the M&A bid process used to generate multiple offers, and why the highest bidder is not always the best buyer for your company. Recently Gaby started a venture capital fund, The Fund XX, investing in the next generation of women-led startups.
Listen in to learn more about:
- How to make your business an acquisition target
- Protecting yourself and your business
- Gaining a competitive edge
- Increasing market share by playing to your strengths
Show Links:
https://www.linkedin.com/in/gabrielaisturiz/
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
How do you move past the difficulty that comes with leaving your business? Sarah Dusek is the Co-founder of Under Canvas and General Partner of Enygma Ventures. Founded in 2009, Under Canvas re-defined experiential hospitality in the US growing from their first location in Yellowstone, Montana, to several luxury glamping accommodations near America’s most popular national parks. Sarah shared her incredible journey scaling and growing a business from nothing, to selling it for over $100 million to a private equity firm. After grieving the loss of moving on from her role in the business, she found a new purpose. Now Sarah invests in women led businesses in southern Africa empowering entrepreneurs to reach their full potential.
Listen in to learn more about:
- Finding clarity on what you want and why
- Hiring the right people to unlock potential
- Managing the difficulty that comes with business transition
- Developing a minimum viable product (MVP)
- Leveraging organic marketing strategies
Show Links:
LinkedIn: linkedin.com/in/sarahhdusek
Web: enygmaventures.com
Email: sarah@undercanvas.com
Twitter: @undercanvas
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
What do acquisition entrepreneurs look for in buy-side deals? Ron Skelton has been a serial entrepreneur for over 35 years. Ultimately this has led to partnering with, buying, or investing in privately held businesses. Ron joins Laurie Barkman to discuss mergers and acquisitions in the small and medium business space. Listen in as they discuss Ron’s experience as an acquisition entrepreneur, his approach to preserving the owner’s legacy after the sale, and why he calls himself an “M&A Dude with a Heart.” Enjoy this episode about buy-side deals with acquisition entrepreneur Ron Skelton.
Show Links:
How2exit.com
linkedin.com/in/ronskelton
About Succession Stories Podcast
Succession Stories is an award-winning podcast hosted by Laurie Barkman, the Business Transition Sherpa, guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
How you set your pricing strategy affects your profitability, ability to break even, and your chance at success. Per Sjöfors is the author of The Price Whisperer and CEO of Sjöfors & Partners. Per has made it his life’s work to make pricing practical and actionable, and has helped over 600 clients substantially increase sales and profits. He joins host Laurie Barkman to discuss his firm’s methodology of buyer psychology, market research, and machine learning, and how this ties into pricing, affecting sales volume, customer segmentation, profitability, and company valuation.
Listen in to learn more about:
- Why competitive based pricing may not always be the best strategy
- Value based pricing based on the value customers accrue and are willing to pay for
- Factoring practical behavioral economics into pricing
- Ensuring your products/services are priced to attract high value customers
- How slight price adjustments can improve profitability exponentially
- The relation between value perception and price
Show Links:
https://sjofors.com/
https://www.persjofors.com/
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Learn the secrets of putting profits first with Rocky Lalvani, The Profit Answer Man. Host Laurie Barkman talks with Rocky about how business owners can learn what's actually happening in your business, so you know whether or not you’re profitable. With a Profit First Method you won’t have to wait till tax time to see the profitability picture.
Listen in to learn more about:
- Profitability as a primary goal
- Common accounting issues facing the majority of businesses
- How to track cash flow and profit throughout the year
- Implement five account tracking system
Show Links:
https://profitcomesfirst.com/
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Many business owners and entrepreneurs face the challenge of wondering what they will do after they leave the business. Often our personal identity is intertwined with our business identity. When you leave, and eventually you will, you may face this critical challenge. Jerry Cahn believes in leading a fulfilling life throughout different life stages.
As Chair of Vistage Boards in New York, Jerry works with CEOs to find more success in their business and personal lives. He founded AgeBrilliantly.org to help people focus on opportunities for a fulfilling life while working in their company and afterwards.
Listen in as Jerry talks with host Laurie Barkman how thinking about life stages, rather than age stages, creates a positive mindset for exiting your business and launching your future self.
Learn more about:
- Rethinking retirement amidst a higher life expectancy
- Figuring out your 'next self'
- Blockers holding back business leaders from planning their exit
- Planning the personal aspect of what comes after you exit your business
- Cultivating a mindset of readiness
Show Links:
https://agebrilliantly.org/
jcahn@agebrilliantly.org
jerrycahn@vistagechair.com
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Why are businesses that operate independently of their owners more valuable? Scott Snider, President of the Exit Planning Institute (EPI), educates professional advisors and business owners around the globe about the Value Acceleration methodology. Scott joins Laurie Barkman to discuss how owners can gradually relinquish control and not let your company define you. They also talk about Scott’s own succession experience over the last 10 years with his father, Chris Snider, owner of EPI.
Listen in to learn more about:
- Shifting to a business framework centered on value, not income
- Aligning business, personal, and financial goals
- Cross generational business transitions
- Addressing difficult questions around succession
- How to gradually relinquish control of your business for a smooth transition
- How new leaders can build their own vision or the future
- Resources, methodologies and tools that can help unlock value in your business
Show Links:
https://www.linkedin.com/in/scott-snider-epi/
https://exit-planning-institute.org/program/certified-exit-planning-advisor/
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Nicole Jansen grew up in an entrepreneurial household and by her mid-twenties had helped build an 8-figure family business that spanned nearly a dozen countries. But at the height of their success, they lost it all. Nicole joins host Laurie Barkman to discuss how this experience fuels her mission today, working with business owners and visionary leaders to achieve success while also making a positive impact in the lives of others. She is the founder of Discover The Edge and Leaders of Transformation Podcast. Key takeaways: How can we become better, not bitter, when things don’t go our way. And why the most valuable thing you can pass to the next generation is integrity.
Listen in to learn more about:
- Identifying business risk tripwires before it's too late
- Navigating misalignment
- Effect of tying personal identity to a business
- Recovering from a downturn
- Separating yourself from your accomplishments, accolades, adversity and more
Show Links:
https://leadersoftransformation.com/
https://leadersoftransformation.com/podcast/business/415-business-transition-planning-with-laurie-barkman/
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
How can business owners turn their biggest asset into one worth selling? Marcia Riner shares the heartbreaking experience of watching both of her parents close their businesses. Now as a business growth strategist, Marcia helps service-based professionals strengthen their business so that it is worth selling someday. She’s the author of “Big Profit Secrets” and hosts a podcast called “Profit With A Plan.” Listen in as host Laurie Barkman talks with Marcia about why it's best to have a plan, rather than hope for exit success, on this week’s Succession Stories.
Listen in to learn more about:
- The difference between sell ready and ready to sell
- Creating a roadmap for selling your business
- Structuring your business in a way that attracts buyers
- The challenge of owner dependency
- The importance of an exit mindset
Show Links:
https://smalldotbig.com/succession-stories-podcast/appearances/transition-planning-with-laurie-barkman-profit-with-a-plan-podcast/
https://smalldotbig.com/succession-stories-podcast/86-how-to-prepare-for-sell-side-diligence-jeffrey-ford-grossman-yanak-ford/
https://www.trajectorybiz.com/
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
This episode focuses on what it takes to get a business ready for a sale, and how business owners can prepare for what might be one of the most important days of your life. Laurie Barkman hosts Jeffrey Ford, a Founding Partner at Grossman Yanak + Ford, a regional certified public accounting and consulting firm. They talk about the importance of having a transferable business, and how to address risks to protect your sell price. Listen in as they discuss what can derail the sell side process and how to prepare for sell side diligence.
Listen in to learn more about:
- Sell-side insights for business owners thinking of selling at some point
- What the buyer's team looks for to drive down your selling price between the Letter of Intent and the transaction
- Conversely, how the business owner can prepare and take the time with a thoughtful, introspective approach
- Assembling a capable deal team philosophically aligned with the business owner, that will pay off significantly in the process
Show Links:
Grossman Yanak + Ford website: www.gyf.com
Email Jeff Ford, Partner GYF at ford@gyf.com
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
This week on Succession Stories, Laurie Barkman hosts fellow Certified Value Builder Advisor, Nana Bonsu for a conversation on business growth and transferability. Nana is the Founder CEO of Infinite Horizons, and he works with business owners on building value to make them easier to transfer during the M&A process. This discussion touches on common misconceptions owners often have about their business value, future readiness, and tackling key challenges that come up during transition. Listen in to learn more about:
- The underlying importance of growth potential
- How transferability affects business value
- Key value drivers for your business
- Scalability Finder strategies and differentiation
Show Links:
https://www.linkedin.com/in/nanabonsu1
https://infhorizons.com/about-certified-value-builder-advisor/
nbonsu@infhorizons.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
There are numerous pitfalls that can derail the process when selling your business. It’s an intensive undertaking that requires the right team of collaborators to guarantee success. Paul Visokey, President of Stony Hill Advisors, returns to the Succession Stories Podcast and joins host Laurie Barkman to discuss the realities of selling - before, during, and after the process.
Learn more about:
- Navigating the private market when selling your company
- A detailed look at each stage of the selling process
- Understanding the lower middle market
- What the current economic situation means for M&A
- Getting your financial records in order
- Taking the guesswork out of business valuations
- Post M&A considerations
Show links:
Age Wave Whitepaper: https://stonyhilladvisors.com/the-age-wave
Episode 52 Paul Visokey, “Monetizing Your Business Through M&A”
Episode 82 John Warrillow, “Selling Your Company”
Episode 68 David Wible, “Value Creation Revenue and Subscription Businesses”
paul@stonyhilladvisors.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call at:
www.meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
More than 13,000 Family Offices exist in the US, preserving the legacy and investments of the original family enterprise. Many see direct investment as a way to tap into the entrepreneurial DNA that made the family business successful. And family office investors can be a source of patient capital having a longer time horizon compared to other financial buyers.
Mark Brandt, Family Office Market Director for RSM, has worked with family businesses and family offices throughout his entire career. He joins Laurie Barkman to talk about some of the important trends with family office investing.
Listen in to learn more about:
- Direct investing do’s and don’t for family businesses
- Tapping into opportunities in fund investing
- Creating networks with other family offices
- How succession planning keeps family offices going
- The impact of inflation on family finances & investments in 2022 and beyond
Show links: RSM website: https://rsmus.com/ Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Get an exit value assessment by visiting www.exitreadyscore.com
Learn more and book a consultation with Laurie: www.meetlauriebarkman.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
Host Laurie Barkman talks with John Warrillow, best selling author of Built to Sell, Built to Sell Radio, and Founder of The Value Builder System, a company that provides business owners with a proven process for improving value and preparing for an exit. Prior to starting Value Builder, John started and exited four companies. John shares relatable stories - including his own - about personal readiness and having blind spots for the potential value of your business. John shares practical steps business owners should take to maximize the value of their business, and protect their business in both the short and long term. If you think you might sell your company one day, or want to know that you can, this is a great episode to dig into.
Listen in to learn more about:
- John’s entrepreneur’s journey and what inspired The Value Builder System
- Why a company that isn’t transferable is worthless.
- What drives the value of your business, and what you can do to prepare personally
- Finding out what your business is worth to see if you have a gap
- Common answers to the question, “What’s the biggest obstacle you’re facing in transitioning
- your company in the future?”
- Some of the biggest mistakes business owners make when they go to sell.
- How to find the right buyer for your business, working with a broker or intermediary versus on your own.
Show Links:
- The Value Builder System website: www.valuebuildersystem.com
- Personal Readiness to Exit assessment: getmyprescore.com
- Value Builder exit value assessment: getmyvbscore.com
- The Overlooked Owner eBook: https://bit.ly/overlooked_owner
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 Advisory call:
meetlauriebarkman.com
lbarkman@smalldotbig.com
We appreciate your support...subscribe, share, and post a review to share what you like about the show!
How can a services business drive recurring revenue? Andy Cabasso co-founded JurisPage, a marketing services company with a niche audience- specializing in technology and practice management software for law firms. After three years they were bought by a strategic acquirer for 7-figures. Andy’s story will be interesting to anyone wondering how to package their services as products and develop a recurring revenue model – a key value driver.
Listen to learn more about:
- How JurisPage created a recurring revenue stream
- Building a book of recurring revenue to scale your income
- Why turning away one-time revenue projects was difficult but helped build a valuable business
- How to take something like a service like marketing or web design, and turn that into a product that has fixed deliverables
- How using SOPs to build a scalable team– enabling a lean small team to deliver
- Why building these processes can help you become an attractive acquisition target
- Launching his next venture Postaga.com
Show links:
www.postaga.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Subscribe and leave a review to share what you like about the show!
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book a 1:1 VIP Advisory call at:
meetlauriebarkman.com
In the US, there are 32 million family owned businesses. Popular media often depicts family businesses in a less than favorable light…think Arrested Development, Dallas, Succession, and of course, House of Gucci.
As the Executive Director of the Smith Family Business Initiative at Cornell University, Daniel Van Der Vliet is dedicated to supporting and strengthening the network of owners, leaders, and alumni that work with family businesses. Listen in as they discuss important trends like disruption, innovation, and how the next generation can help drive entrepreneurship and sustainability.
Listen in to learn more about:
- The economic impact of family businesses in the US
- Myths about family businesses
- Ensuring the continuation of family businesses in the era of disruption
- Best practices for multi generational companies to adopt an innovation culture
- The need for families to educate the next generation on succession plans and future of their businesses
- Practical ways to navigate key issues faced by family businesses
Show Links:
https://www.johnson.cornell.edu/smith-family-business-initiative-at-cornell/
About Succession Stories Podcast
Subscribe and leave a review to share what you like about the show!
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Book an advisory call at meetlauriebarkman.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Every business owner will leave their company one day. Laurie Barkman talks with Mark Kravietz, award-winning Certified Exit Planning Advisor and Managing Partner of Aline Wealth. Listen in as they discuss why not having an exit plan presents risk to your business, finances, and your future. Mark advises how to assemble a team of advisors to support a successful exit. It's an insightful conversation to help business owners think about exit planning and business transition.
Listen in to learn more about:
- The three legs of exit planning: business, financial and personal
- Types of professionals you need for a successful exit
- Working through post-exit income planning
- Getting through exit related stress with advisors
Show Notes:
https://www.alinewealth.com/
Find Your Exit Podcast
Coffee With Krav YouTube
mkravietz@alinewealth.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
About Succession Stories Podcast
Subscribe and leave a review to share what you like about the show!
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Finding time wealth means having the ability to choose how you spend your time. On this episode, Laurie Barkman talks with Craig Clickner and Carrie Bohlig. They're the married co-founders of Tandem Consulting and other companies. Their businesses, which initially started as side hustles, allowed them to step away from their corporate careers, and developed 8 income streams bringing in over $3 million annually. Taking an entrepreneurial path is a key topic on their podcast, Tandem Talks (where Laurie was recently a guest) and in their new book “So You Want to Start a Side Hustle.” Get inspired to focus more on what really matters to you in this episode with Carrie and Craig.
Listen in to learn more about:
- Thinking of entrepreneurship as an adventure
- Building your business without sacrificing your life
- How starting slow can help you accelerate faster
- Surrounding yourself with the right people
- Why time wealth and choosing how you spend your time is important
You can find out more about Craig and Carrie in the links below:
https://www.tandemconsulting.co/
https://www.linkedin.com/in/carriebohlig
https://www.linkedin.com/in/craig-clickner
About Succession Stories:
Subscribe and leave a review to share what you like about the show!
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Is this the year to sell your company? Don't leave your exit to chance.
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.
Given today’s talent wars, have you considered virtual assistants? Danielle Cuomo is the Founder and CEO of Virtual Assist USA - the largest VA company in the United States. Danielle shares how she took an entrepreneurial leap from bootstrapping the company to growing to $4.5 million in revenues today. This insight-packed episode provides fresh ideas for scaling small businesses.
Listen in to learn more about:
- How virtual assistants augment teams at fast-growing businesses
- Why large companies are using virtual assistants
- Setting up your business to scale
- Deciding when to take the entrepreneurial leap
Show Links:
https://www.virtualassistusa.com/
Subscribe and leave a review to share what you like about the show!
Succession Stories is hosted by Laurie Barkman, the Business Transition Sherpa-- guiding business owners through the process from "transition to transaction."
Learn more at https://smalldotbig.com
Looking to enhance and grow your business in 2022? This week on Succession Stories, Stephanie Scheller joins Laurie Barkman to discuss success in the face of disruption. Stephanie is the founder of Grow Disrupt, a marketing agency in Texas that grew by nearly 50% in 2020. How? By optimizing recruitment, offering packages that address customer needs, and improving the agency’s positioning. In addition to sharing her story, Stephanie also plays her violin for us, a first for the show!
Listen in to learn more about:
- Fine-tuning your three M's of marketing; market, message, and methods of distribution
- Testing and adjusting strategies to find those that work best for your business
- Making the most of disruption
Connect with Stephanie Scheller:
https://www.thestephaniescheller.com/
https://www.growdisrupt.com/
Connect with Host, Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://smalldotbig.com/contact-us/
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
We kick off 2022 with a spotlight on business transitions. Why maximizing your business today can help you prepare for an exit on your terms tomorrow. This episode features an insightful presentation from Laurie Barkman in a webinar with Chris Brodman, President of Metz Lewis Brodman Must O’Keefe, a Pittsburgh PA, law firm specializing in mergers and acquisitions and business transactions.
If you’re not yet getting Succession Stories monthly newsletter, now is a great time to sign up on the show’s website www.SuccessionStories.com. You’ll be amongst the first to hear about Laurie's new book, upcoming events, and more great content to help you capture value and transition with success.
Connect with Host, Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://smalldotbig.com/contact-us/
Show Links:
Metz Lewis website: https://www.metzlewis.com/
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
100% of business owners will leave their business someday. Whether a business thrives after an owner leaves depends on your succession plan to ensure a smooth transition. How do you create a succession plan? What are the dos and don'ts? How can a well planned succession improve your business value? Listen in as Beth Miller returns to Succession Stories to discuss her book Replaceable: An Obsession with Succession to help you plan for a successful transition in your business.
Listen in to learn more about:
- Building a plan for life beyond your business
- What separates successful transitions from those that fail
- Why a succession plan should be an ongoing process
- Analyzing the gaps between your key people and key positions and developing your team in time
- How to communicate about your succession plan with your team
- Mapping out a competency ladder for your company for effective leadership
- Tools and resources to help you gauge your readiness to transition both at a personal and business level
Show Links:
Replaceable: An Obsession with Succession: https://us.amazon.com/Replaceable-Succession-Beth-Armknecht-Miller/dp/1951503538/
Succession Stories E36: https://smalldotbig.com/succession-stories-podcast/e36-avoiding-succession-planning-mistakes-beth-armknect-miller/
Connect with Beth Miller:
LinkedIn: https://www.linkedin.com/in/betharmknechtmiller
Website: https://executive-velocity.com/meet-beth-miller/
Connect with Host, Laurie Barkman:
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Website: https://smalldotbig.com/contact-us/
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
In the M&A deal ecosystem different types of buyers have different motivations. Family offices are known to have a long time horizon and offer flexibility during acquisition. Alex Panosian is a co-founder of CW Growth Partners, a family office focused on acquiring and growing small businesses in the Midwest. Laurie Barkman and Alex discuss his family business legacy, core values, and how that shaped their investment strategy.
Listen in to learn more about:
- Growing your business value through your people, culture and systems
- Key considerations from a buyer's perspective during an acquisition
- To leave or not to leave? Finding the balance between staying on and exiting following a transition
- The flexibility family offices offer compared to private equity buyers
Connect with Alex Panosian:
CW Growth Partners website: https://www.cwgrowthpartners.com/
Alex Panosian: alex@cwgrowthpartners.com
Connect with Host, Laurie Barkman:
https://www.linkedin.com/in/lauriebarkman/
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
If a high percentage of your company's revenue is undertaken personally by you or your fellow equity holders, you’re a Rainmaker. You’ve got a strong ability to influence customers, but you may be lowering your company’s value. Amy Franko is a strategic sales expert and author of The Modern Seller. Listen in as Laurie Barkman and Amy talk about the challenge of The Rainmaker’s Dilemma, traps to avoid, and actions you can take to increase your company’s value.
Listen in to learn more about:
- Understanding The Rainmaker’s Dilemma and impact on business value
- Architecting a sales process
- Sales strategies to consider in a disruptive business environment
Connect with Amy Franko:
https://amyfranko.com/
https://www.linkedin.com/in/amyfranko
Connect with Host, Laurie Barkman:
https://www.linkedin.com/in/lauriebarkman/
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
Explore how ESOP management buyouts can be a great succession plan as a way to transfer your family-owned business to your children and employees. Laurie Barkman and Darren Gleeman, an ESOP expert and Partner at MBO Ventures, discuss why you might consider an ESOP over selling to a private equity firm. In addition to substantial tax incentives, your children can get warrants to buy back a large chunk of the company in the future. Listen in to learn more about the immense possibilities ESOPs can create for your business.
- How ESOPs can create a win-win scenario for business owners, stakeholders and employees
- How an ESOP can reduce tax obligations
- Why setting up an ESOP structure can make it easier to transfer your business
- The importance of incentives such as ESOPs as a way to incentivize your team and retain your workforce
- How Woman-Owned, Veteran-Owned, and Minority Business Enterprises can sell to an ESOP and maintain their certification
Connect with Darren Gleeman:
646-734-2035, dgleeman@mboventures.com
www.mboventures.com
Connect with Laurie Barkman:
Laurie Barkman on LinkedIn
Podcast website: www.successionstories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
How can employers retain people in the face of The Great Resignation job market phenomenon? Alisa Spector Angelo is the Owner and President of Compass Business Solutions, an HR consulting firm that takes a people first approach in driving organizational performance. Listen in as Laurie Barkman and Alisa talk about why it’s more important than ever to put your company values into practice to drive retention and foster a healthy and productive work environment.
Listen in to learn more about:
- Refreshing your pre-pandemic core values to match the current business environment
- Key human capital concerns as we navigate remote, hybrid and back-to-the-office work setups
- Recruitment strategies for today’s labor market
- Showing your people you value them through re-recruitment
- Spotting potential culture-killers in your organization
Show Links:
Compass Resources website: https://compass-resources.com/
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
All entrepreneurs will leave their company someday. What’s your path to increasing your company’s value? Steve Peplin, CEO of Talan Products, a $50 million manufacturing company, has achieved impressive growth. Listen in as Laurie Barkman and Steve discuss his secrets to success using enterprise value as a scorecard to improve the business. And how he thinks about the entrepreneurial journey, succession, and what comes next at a personal level.
Listen in to learn more about:
- The importance of talent acquisition, recruiting and retention in the current business landscape
- Building enterprise value from a buyer’s perspective
- Continuous learning as a key part of succession planning
- Preparing for your next
Show Links:
Steve Peplin LinkedIn: www.linkedin.com/in/steve-peplin-9095046/
Talan Products website: https://www.talanproducts.com/
Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter.
Subscribe to Succession Stories to get all the weekly episodes!
Have you thought about who potential buyers of your company might be in the future? This week on Succession Stories, Laurie Barkman is joined by David Wible, CEO of Work.Software and former CEO of Industry Weapon, a company he sold in 2020. David shares his experience of selling his business, what made the sale successful, and why he started conversations five years prior to the actual sale. The key was understanding which value drivers mattered most. Listen in to learn more about:
- The benefit of starting conversations with potential buyers before you're ready to sell
- Viewing a sale from the buyer's perspective
- How different kinds of businesses are valued differently
- Recurring revenue models
- Creating clarity across departments with the value creation revenue metric
Show Links:
David Wible on LinkedIn
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
It’s never too early to have conversations on exiting your business. Whether you’re looking to retire or pass the mantle to the next generation, it’s important to understand the merger and acquisition process sooner than later. Listen in as Laurie Barkman and Miche Jean, CEO of Grotte Business Partners, discuss how to make your business ready for transition while readying yourself for your next chapter.
Listen in to learn more about:
- Clarifying the driving force behind your desire to sell
- Laying down your exit strategy
- Why you should work with experts rather than go it alone when selling a business
- Being flexible during the merger and acquisition process
Show links:
Miche Jean LinkedIn
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
How can business owners focus on enterprise value rather than short-term profits? Listen in as Laurie Barkman talks with Kevin Trout about preparing your business for sale. Kevin built Grandview Medical Resources with the intent to sell one day. Revenue growth was strong, but created too much risk in the business. Kevin shares some key decisions that he made to drive enterprise value and his reflections on what he would have done differently along the way. Today Kevin pays his experience forward as a Vistage Chair, advising high-performing executives and business owners on growing their businesses and enhancing their lives. Listen in to learn more about:
- The importance of a Value Builder assessment in driving business value
- Phases of a business growth cycle
- How to prepare your business for growth
- Building business value beyond revenue
- Three key things to consider when thinking of selling your company
Show Links:
Kevin Trout LinkedIn
Three Rivers Leadership Podcast - Laurie Barkman's appearance
Vistage
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We'll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
Tricia Staible raised her hand to join the family business, Robinson Fans, and eventually became its sixth generation President. Tricia joined Laurie Barkman to discuss the importance of diversification for long-term growth, and how a culture of curiosity promotes innovation in a manufacturing environment.
While the company has grown and expanded with an acquisition, there was a time when its prospects weren’t as bright. This ties well with Tricia’s favorite quote about staying in the ring and moving forward despite the downsides that come your way.
Listen in to learn more about:
- Driving innovation in a manufacturing environment
- Finding stability even in the midst of crisis
- Adapting a mature business while protecting its legacy
- Incorporating core values into your business strategy
Show Links:
Robinson Fans website
Robinson Fans LinkedIn
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We’ll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
How acquisitions fuel growth at a multi-generational company. Ben Grossman is the Co-President of the Grossman Marketing Group, a fourth generation business he co-leads with his brother. With sustainability as a key priority, they employ acquisition strategies as a platform for expansion.
Listen in as Laurie Barkman talks with Ben about their approach to M&A, including how they source deals, build strong trust based relationships with sellers, and integrate those companies into their organization without losing what makes them special and unique. There’s a ton of wisdom in this episode for NextGen leaders, and anyone on the buy-side of deals.
Listen in to learn more about:
- Advice for nextgens entering a family business
- Creating an acquisitions strategy
- How some M&A deals fit better than others
- Why fostering relationships with sellers is important for deal success
Show Links:
Ben Grossman on Twitter: https://twitter.com/bigrossman
Ben Grossman website: http://bengrossman.info/
Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We’ll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer or seller.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
Did you know that 80% of mergers and acquisitions fail? An often overlooked yet critical aspect of M&A deals and transitions is the people factor. Jennifer Fondrevay, Founder of Day1 Ready, advises senior executives on how to plan for expected challenges. Listen in as Laurie Barkman talks with Jennifer about the emotional aspect of business transition, and how those emotions come into play for a newly merged organization. If you’re anticipating a company transition in your future, listen in to learn more about how strategies around the human factor can drive greater success in M&A deals.
Listen in to learn more about:
- What to anticipate from your workforce when you announce an M&A deal
- Three key things to consider when buying or selling a business
- Benefits of a human capital-centric approach to M&A
- How to build confidence and synergy among different parties involved during a transition
Show Links:
Jennifer Fondrevay on LinkedIn
Harvard Business Review article
Fast Company article
Laurie Barkman on LinkedIn
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We’ll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
Listen in as Laurie Barkman talks with John Brown about taking an owner-centric approach to exit planning to achieve your financial goals and be rewarded with the lifestyle you desire. Only 20% of business owners have a formalized plan to transition ownership, but 100% will exit their company one day. John Brown, best selling exit planning author, started BEI in 1996 for the purpose of helping owners benefit from their lives’ work by supporting business advisors who share the same vision.
Listen to learn more about:
- Working with a financial advisor for future planning
- What builds business value
- Why exit planning is business planning
- How an owner-centric approach to exit planning can help you achieve your transition goals
- Assessing obstacles to the exit scenario you’ve envisioned
- How to prevent transition plans from falling through
Show Links:
BEI website: https://www.exitplanning.com/
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We’ll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
Reignite growth in your company by doing this one thing: Be curious. Rethink your assumptions about why people buy from you-- and why they don’t. On this episode, Laurie Barkman talks with Dr. James Richardson, a professionally trained cultural anthropologist turned business strategist, about the importance of customer research. Understanding customer needs is a critical part of strategic planning and differentiating your business in an increasingly competitive market.
Listen in to learn more about:
- Approaching innovation from a customer-focused perspective
- Discovering potential product category issues through interaction with consumers
- Listening to consumers and driving innovation to address their concerns
- The 4Ps of strategic planning
Show Links:
Premium Growth Solutions:
https://link.premiumgrowthsolutions.com/SS
Ramping Your Brand - Book:
https://www.rampingyourbrand.com/succession_stories/
Podcast website: SuccessionStories.com
About:
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig.
We’ll help you maximize business value, plan your exit transition, and get rewarded for all of your hard work by finding the right buyer.
Visit https://smalldotbig.com for more value building resources and subscribe to our newsletter!
In Africa, private businesses have just a 2% succession rate to the second generation, compared to 40% in the US. Helping owners achieve business success and lead their family organizations to long-term impact and legacy is a core focus for Nike Anani. With over a decade of family business expertise in Africa, Nike is creating a multinational network to help reverse this trend. Listen in as Laurie Barkman talks with Nike about bridging generational gaps to enable companies to successfully transition to the next generation.
Listen in to learn more about:
- Integrating into a family business as a next-gen
- Challenges facing generational transition in family businesses
- How African family businesses can enhance the rate of cross-generational succession
- Navigating the improvement of family businesses while maintaining stakeholder relationships
Show Links:
Nike Anani's website: http://www.nikeanani.com/
African Family Firms: https://www.africanfamilyfirms.org/
Podcast website: SuccessionStories.com
The Succession Stories podcast is hosted by Laurie Barkman, Business Transition and M&A Advisor/Founder of SmallDotBig, a strategic advisory firm for closely held businesses anticipating a leadership or ownership transition in the future.
For more info, or to connect with Laurie visit https://smalldotbig.com or lbarkman@smalldotbig.com
How does exit planning differ from succession planning for business owners? Laurie Barkman and Mike Silverman, Shareholder of Dentons Cohen & Grigsby, discuss the strategic benefits of business transition planning to maximize enterprise value and exit options. Listen in to learn more about the differences between exit and succession planning and importance for your business. Be sure to learn more about the Business Advisory Group-- a collaborative approach to exit and succession planning for business owners-- and how they can help you get started.
Listen in to learn more about:
- The difference between an Exit Plan and a Succession Plan
- Why it’s important to design and implement these plans as a business owner
- The strategic benefits of internal transactions
- The pros and cons of different exit options
- The financial implications of your succession and exit strategies
Show Links:
Business Advisory Group
Contact Michael Silverman: msilverman@CohenLaw.com
Clearing Blurred Lines of Business Transition with Chris Chaney, Succession Stories E22
Maximizing Value: The Key to Your Business Exit - Webinar Replay Video
The Succession Stories podcast is hosted by Laurie Barkman, Business Transition and M&A Advisor/Founder of SmallDotBig, a strategic advisory firm for closely held businesses anticipating a leadership or ownership transition in the future.
For more info, or to connect with Laurie visit https://smalldotbig.com or lbarkman@smalldotbig.com
Business succession isn't easy, especially when it's unexpected. Listen in as three 3rd generation siblings share their personal and professional challenges of dealing with the death of their father, Kurt Lesker III, CEO of Kurt J. Lesker Company. With support from their family and executive team, KJLC successfully transitioned to the next generation of leaders including Kurt Lesker IV, Kristin Lesker Eisel, and Jenna Lesker Lloyd. Listen in to learn more about:
- Successful transition across different generations
- The crucial role of family and business values in moving business forward amidst transition
- Why it’s important to have frequent, open conversations on succession
- The value of succession planning in safeguarding a business and its stakeholders
Show Links:
https://www.lesker.com/
https://www.instagram.com/kurtjleskerco/
https://www.linkedin.com/company/kurt-j--lesker-company
https://twitter.com/kurtjleskerco
The Succession Stories podcast is hosted by Laurie Barkman, Business Transition and M&A Advisor/Founder of SmallDotBig, a strategic advisory firm for closely held businesses anticipating a leadership or ownership transition in the future.
For more info, or to connect with Laurie visit https://smalldotbig.com or lbarkman@smalldotbig.com
Sixteen years ago, Nelson Anderson bought a small printing franchise from his father-in-law. And for 10 years, he did it all - from sales to operations and more. With the helpful guidance of trusted advisors, Nelson built a team and processes that enabled him to step back, a hard thing to do but has enabled their growth through acquisition. He shared how these strategic acquisitions fit within their organization as tuck-ins. This approach has helped Full Sail Media grow from a small $400,000 print shop to a multifaceted marketing company that's over $8 million in revenue. If you want to make your business more attractive to a potential buyer, make sure to listen to Nelson’s suggestions for what you should start doing today.
Show Links:
Email: nelson@fullsail.media
Connect with Laurie Barkman on LinkedIn:
https://www.linkedin.com/in/lauriebarkman/
Lauries' website:
https://www.smalldotbig.com
If you're interested in exploring your succession options, take the next step to request a confidential meeting with Laurie:
https://smalldotbig.com/schedule-an-initial-call
Here's to your success!
On this “What’s Next” episode, Laurie Barkman is joined by Jon Dwoskin, business coach and author of the Think Big Movement. Jon shared his experience selling his first company, and the cancer diagnosis that changed not only his career, but his outlook on life. Facing death head-on made Jon realize how his biggest fears were holding him back. Instead, he turned it into a mission helping people get unstuck. Be sure to listen for Jon’s actionable ideas for trusting your intuition and taking action on small things for big results in your life.
Listen in to learn more about:
- The value of your gut quotient and the importance of listening to your intuition
- Finding your unique abilities and tapping into them for success
- Critical specific, measurable leading activities to prevent burnout and achieve fulfillment
- Getting unstuck and moving past fear
- Little things that steer you to your big goals
Show Links:
Jon’s website:
https://jondwoskin.com/
Laurie Barkman on LinkedIn:
https://www.linkedin.com/in/lauriebarkman/
Laurie's website:
https://www.smalldotbig.com
If you're interested in exploring your succession options, take the next step to request a confidential meeting with Laurie:
https://smalldotbig.com/schedule-an-initial-call
Here's to your success!
Laurie Barkman Host, Succession Stories Podcast
Business Transition and M&A Advisor
lbarkman@smalldotbig.com
For many business owners, selling your company is typically a once in a lifetime transaction. But it's hard to know how it all works until you’re in it. On this episode, Laurie Barkman talks with M&A and boutique investment banker, Dave Eichenlaub from Confluence Advisors, about deal dynamics and what makes a business ready for sale. They explore what can make or sink a deal, and the role of trusted advisors to help bring it all together. Listen in to learn more about:
- What deal dynamics emerged during the pandemic and potential impacts on activity this year
- Timing considerations for a typical merger and acquisition process and what can sink a deal
- The role of trusted advisors in a potential M&A transaction and when they should be consulted
- What makes a business ready for sale
- Forward thinking and pre-planning for a future transition to be successful
Show Links:
Confluence Advisors website:
http://www.confluenceadvisorsllc.com/
Confluence Advisors on LinkedIn:
https://www.linkedin.com/company/confluence-advisors-llc/
Laurie Barkman LinkedIn:
https://www.linkedin.com/in/lauriebarkman/
SmallDotBig website
https://www.smalldotbig.com
If you're interested in selling your business, or acquiring a company, take the next step to request a confidential meeting with Succession Stories Podcast host, Laurie Barkman:
https://smalldotbig.com/schedule-an-initial-call
Here's to your success!
Laurie Barkman Host, Succession Stories Podcast
Business Transition and M&A Advisor
lbarkman@smalldotbig.com
Laurie Barkman is joined by Kevin Urrutia, CEO of Voy Media, and co-founder of Maid Sailor, a NYC cleaning services company that he sold last year. Kevin details his experience in building the business from scratch, running it for six years with his brother, and having an exit amidst the pandemic.
Listen in to learn more about:
- How a fearless, willing-to-learn mindset can fuel success
- Why you should use a scalable training model when building your business
- Benefits of productizing your service
- How recurring models can boost your cash flow and help scale your business faster
Show Links:
Kevin Urrutia Twitter:
https://twitter.com/danest
Laurie Barkman LinkedIn:
https://www.linkedin.com/in/lauriebarkman/
SmallDotBig website
https://www.smalldotbig.com
If you're interested in selling your business, or acquiring a company, take the next step to request a confidential meeting with Succession Stories Podcast host, Laurie Barkman:
https://smalldotbig.com/schedule-an-initial-call
Here's to your success!
Laurie Barkman Host, Succession Stories Podcast
Business Transition and M&A Advisor
lbarkman@smalldotbig.com
Successful M&A deals begin with a deal making mindset. Find out the measures you need to take to make a winning deal. Corey Kupfer is an expert strategist, deal-maker, attorney and consultant. He shares how his background in law ultimately led to his success in helping clients iron out the most critical aspects of business deals. What does it take to truly build value and get offers that match your expectations?
Listen in as Laurie Barkman talks with Corey about the mindset you need to adequately prepare for successful M&A deals.
Listen in to learn more about:
- The importance of having a deal-driven mindset
- What entrepreneurial freedom truly means and how it can create value for your company.
- Common pitfalls to avoid as you go about creating business value
- Factors that can lead to buyers making lower offers than anticipated
- How digital assets are valued when a deal is under evaluation
Show links:
Corey Kupfer website: https://www.coreykupfer.com/
Corey Kupfer on LinkedIn: https://www.linkedin.com/in/coreykupfer
Connect with the show host, Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
If you're interested in selling your business, or acquiring a company, take the next step to request a confidential meeting with Laurie Barkman, Business Transition and M&A Advisor, here:
https://smalldotbig.com/schedule-an-initial-call
Laurie Barkman announces a new partnership with Stony Hill as a mergers and acquisitions advisor. Laurie talks with Paul Visokey, Founder and President of Stony Hill Advisors, about guiding entrepreneurs how to exit their business in the future and access the wealth they’ve created.
Listen in as they discuss:
- Supporting business owners in the lower middle market, $5 million revenue to $50 million in revenue
- Why exit value and transition planning is important to maximize potential
- If the business can't survive without its current owner, then it's not worth very much to the next owner
- Supporting growth by acquiring other companies to make your business more valuable
- Getting an estimate of value helps you understand what your business could be worth in the market before the merger and acquisition process starts
For more information, visit: https://stonyhilladvisors.com/ https://smalldotbig.com/
Follow Succession Stories YouTube channel
Do you know the value of your company and the potential net proceeds of a transaction?
Understanding these numbers now means more time to close the gap if there is one.
Take the next step by requesting an initial meeting to begin planning for your business transition and strategic exit today.
https://smalldotbig.com/schedule-an-initial-call/
Laurie Barkman announces a new partnership with Stony Hill as a mergers and acquisitions advisor. Laurie talks with Paul Visokey, Founder and President of Stony Hill Advisors, about guiding entrepreneurs how to exit their business in the future and access the wealth they’ve created.
Listen in as they discuss:
- Supporting business owners in the lower middle market, $5 million revenue to $50 million in revenue
- Why exit value and transition planning is important to maximize potential
- If the business can't survive without its current owner, then it's not worth very much to the next owner
- Supporting growth by acquiring other companies to make your business more valuable
- Getting an estimate of value helps you understand what your business could be worth in the market before the merger and acquisition process starts
For more information, visit:
Stony Hill Advisors Website
SmallDotBig Website
https://youtu.be/YdEpISn3yCk Transcript
Laurie Barkman 0:04
Welcome to Succession Stories. I'm your host Laurie Barkman, CEO of SmallDotBig. As a strategic growth and M&A Advisor, I like to call myself a “business transition sherpa.” My mission is guiding entrepreneurs on ways to build value in your business, and then to benefit by letting it go. On this show, we spotlight the theme of transitions, not only to reward you for your hard work, but also to ensure that you look back on your succession without regret. For more Succession Stories, be sure to subscribe and follow us on LinkedIn and YouTube. Here's to your success!
I'm really excited for this episode of Succession Stories. Because if you are a longtime listener, you'll know that most often on this show, I don't talk about myself as much as I like to spotlight my guests. But today's episode is different. I'm excited to share an announcement that I am partnered with an M&A firm. It's a new opportunity for me, it's a new opportunity for SmallDotBig, and certainly for my clients. So today I'm being joined by Paul Visokey, he is the President and Founder of Stony Hill Advisors. And he's here with me to help make this announcement and talk about our partnership. So Paul, welcome.
Paul Visokey 1:25
Thank you so much. It's a joy to begin working with you. We started talking a couple months back. And let me start with the fact that my business was started in Philadelphia in 2010 and I've been doing mergers and acquisition services in that marketplace now starting to expand geographically. I’m originally a Pittsburgh native, and so, in our conversation, it made sense to open up the potential for us to work together. And here we are today.
Laurie Barkman 1:50
Yeah, I love that you had approached me, it really got my wheels turning because my focus for the last two years has been working with business owners in the lower middle market on exit and value planning, strategic planning, and helping them find ways to maximize the value of their business anticipating a business transition. And I think what was so awesome, how you approached me and said, Hey, Laurie, if you join us, and we partner, you can also then represent clients in the mergers and acquisitions process, should they want to have that option to sell to a third party. Or if they're looking to buy another business. And the more we talked, the more I think we discovered this shared philosophy about the lower middle market, that there is a really great opportunity there. And so this opportunity for us to collaborate was really exciting. And maybe you could just shed a little bit of light as to why you approached me and what you think our collaboration will bring to clients in Western Pennsylvania.
Paul Visokey 2:55
Well, the connection that we're both Certified Value Builders, we both have the same viewpoint of business owners in this lower middle market, roughly $5 million revenue to $50 million in revenue, they need some direction in order to exit their business at some point in future and access the wealth they’ve created. And given that I'm in the same thought process, but I've taken it further, and I actually provide the transaction services to help them make that change. And I thought you would be a perfect fit to also do that, because it really supplements what you're already doing.
Laurie Barkman 3:27
And one of the things I liked about the firm, that I do like about your firm, is that the M&A Advisors are business operators and people who have a lot of general business experience in certain industries. And I thought our processes really fit well together, starting with the consultative approach to understand from a business owner, what's important to them. Why do they want to transition? Where are they in this continuum if they're a certain number of years out? And so where do you find the conversation typically starts with a business owner? How do you help them understand their own readiness, whether it's their personal readiness or business readiness?
Paul Visokey 4:07
Interesting question. The conversation emanates from, what is their goal, what do they see for their future? And then we take it a couple directions. We want to make sure the business is ready for transition to a new owner, whether it be within the family or to employees. But we also want to make sure that the business owner is ready personally, to transition to some next life event, what they want to do next. So we work with business owners in that area, because they're very integral to the business. Until we can help them understand how they can make the business independent of themselves, they can't really sell. So that's integral to what we do. And it's been the foundation of my mission I've been on.
Laurie Barkman 4:49
We would call that exit value and transition planning because the value part is I think the growth part - which is how can we help a business owner maximize the potential. And you were hinting at one thing that's really important, which is, if the business can't survive without its owner, then it's not worth very much.
Paul Visokey 5:10
Yes, it is certainly not worth very much to the next person. And the growth part is really interesting to bring up because there's two ways you can make a business more valuable over time. One is to grow organically, by continuing to add products, new markets, get more customers in your current market. But there's also an opportunity to make acquisitions of similar sized businesses, and strategic opportunities to add to what you're doing through that process. So it, again, leads back to what we do on the buy side with our clients. We help them identify and negotiate and acquire other companies to make their business more valuable.
Laurie Barkman 5:48
One of the surveys that I have seen, which is from BEI, it's the Business Owner Survey from 2019. One of the questions is “what's standing in the way of your exit?” And the number one answer was “need to improve the business.” I always talk about that as a great opportunity to get perspective because it just makes economic sense. Whether or not you anticipate selling in the next three to five years, which is a relatively short period of time, or the next 10 years. It makes sense to work on the business, improve the business. And the future value of your company, the more that you can demonstrate its growth, its profitability, is going to make it more attractive if you're looking to sell. So let's talk about that. Let's talk about selling a business. What do you see, Paul, as some of the challenges that business owners are facing in today's environment? And why is it important to plan ahead?
Paul Visokey 6:43
The challenges are, as we just mentioned, making the business independent of the owner. That's certainly one of the biggest challenges. Many times the business owner views that they built a business and they can do all these roles that they take for themselves better than anyone else. So that's hard to relinquish, that's delegation, it's not easy to do. And then secondly, it's a cost factor because I have to hire somebody to do what I'm doing. And so they don't do that regularly. Then the next part is the organized process of due diligence preparation, looking at your customer base, making sure you have no serious customer concentrations, where one customer leaves and your business is impacted by 20% or more, making sure that your documentation, your employee manuals, your benefits programs, and all those things are up to current standards. So that again, you can make the transition and the next owner can come in and take over, you're just basically in a nutshell, de-risking the business for the next owner.
Laurie Barkman 7:38
And a good place to start, where would that be? I think a lot of times, we assume maybe that we know what our business is worth. Because maybe we talked to a friend, or maybe we've read some statistics out there. But there's a lot of different reasons why a company could be worth X or Y. So what do you recommend for people who are thinking about selling? Does it start with an estimate of value?
Paul Visokey 8:04
It does, its not only those thinking about selling now. If you're looking to the future, what is your net worth, your net worth is primarily in the company. So along your journey, you should be regularly getting a market valuation of what your business is worth now. You look at your stock market investments, you see if it goes up one day or the next. You never look at your business value, and see if it's going up or down. And that's an important consideration on how you address the business. At the point where you're starting to think about your exit, you really should know, is it going to meet your needs for your retirement purposes. And part of that's working back with your financial advisors and making sure you understand how your lifestyle would be impacted if you were to sell, and what is the business worth then. And you're right, most business owners don't understand the real value of the business. Either they think it's too low, or they sometimes more often think it's too high or think it is worth more than it is.
Laurie Barkman 8:58
Right. And then that's something we can do for owners is to create an evaluation and estimate of value and help them understand what it might be worth in the market before the process starts. Just a level set. You know, it makes sense to do that. So for companies that are wanting to grow beyond organic growth, that they're thinking about acquiring businesses, and I've had quite a few folks on my show who've talked about acquisitions they've done and they're in the same sort of space right in this lower middle market. And it's a roll up strategy in the services industry. For example, I've talked to several owners who have that mentality, and they're always looking for good deals. Everybody's out there looking for the right deal. It's this magic, how do we find the right fit between the buyer and the seller? It's very competitive. So maybe you could talk about our process and how we offer guidance to both strategic and financial buyers.
Paul Visokey 9:51
Very good question. You know, there are marketplaces for businesses for sale. But if you are shopping there, you know everybody is shopping there. The best option is to find a business that's not on the market. And that's a very detailed process, a very labor intensive process for someone running a business. So the best way to do that is to let us be the shepherd of the process for you. And we will engage with a business owner. And it will make a no risk process. There's no commitments, there's no retainers, no exclusivity, they just tell us what they're looking for. And in our daily process of talking with business owners, looking whether they're ready to sell, or whatever, we'll identify for them, here's an opportunity. And that's a service, we help them in the exit value process. We're building their value by helping them find these acquisitions.
Laurie Barkman 10:42
So, Paul, I'm excited to be part of Stony Hill Advisors and representing the firm in Western Pennsylvania. And I certainly hope that people listening are going to want to learn more. If you're listening and you want to learn more about us and what we are doing, you certainly can reach out to Paul or you can reach out to me. So Paul, do you want to share what is the best way to find you online?
Paul Visokey 11:06
Our company's website is www.StonyHillAdvisors.com - and stony has no “e”. Sometimes people will call me and say I sent you an email, did you get it? How do you spell Stony Hill? And they always have an E in it.
Laurie Barkman 11:23
Now we will have to remember that. And certainly to find me, SmallDotBig.com is my website. And we'll put those in the show links as always. And so the last question for you, Paul, is if you have a favorite quote to share?
Paul Visokey 11:38
Yeah, I do. It's interesting. This is attributed to Benjamin Franklin. And it applies to what we do. He's quoted as saying, “Failing to plan is planning to fail.”
Laurie Barkman 11:49
That's a great quote for what we do. Paul, I am so thrilled that we're going to be working together, I'm thrilled for the value we're going to help bring to business owners and entrepreneurs in this area. And thanks so much for coming on the show and doing this announcement with me.
Paul Visokey 12:05
It's my pleasure, and I welcome you to work with us and we're looking for big things.
Laurie Barkman 12:12
My objective is for you to have a lucrative and successful succession. If you want to understand the value of your company today, the potential net proceeds of a transaction, and your financial needs after you leave the business, that's a great place to start.
The sooner you understand these numbers, the more time you'll have to close the gap if there is one.
Take the next step by requesting an initial meeting to begin planning for your business transition and strategic exit today.
Request a call with me by visiting smalldotbig.com, I look forward to speaking with you
Listen in to this special "What's Next" episode as Laurie Barkman talks with Hal Riley, team captain for the World's Toughest Race Eco Challenge in Fiji 2020. Hal led a team of disabled veterans and civilians who competed against 65 other teams to go across 400 miles of dense jungles, steep mountains, winding rivers, oceans and dangerous swamps. An incredible experience full of extra challenges.
Hal shares many life, business and leadership lessons from the journey:
-
looking for moments to take chances even if you won't win
-
how not to pack your fears
-
decision making under stress and ambiguity
Show Links:
https://ecochallenge.com/
https://www.linkedin.com/in/halriley/
Succession Stories Podcast is hosted by Laurie Barkman, CEO of SmallDotBig. Bringing entrepreneurs and business owners insights to grow your company and develop exit transition strategies.
Learn how we can help you maximize enterprise value, create succession plans, and identify M&A strategies, visit: https://smalldotbig.com
Follow Succession Stories on social media:
LinkedIn https://www.linkedin.com/showcase/succession-stories-podcast
YouTube
https://www.youtube.com/channel/UCQIsTkq5fwerkhEovBUiJJA
Karen Norheim is the President of American Crane and Equipment Corp, a specialized manufacturing company, founded by her father. Karen shared her story as the next generation and how she’s taking the company to the next level. In early 2020, the company launched an Innovation Lab and has started to implement digital transformation technologies like IoT and virtual reality. One of Karen’s favorite sayings is to “Be comfortable being uncomfortable,” which has helped her find her way in challenging times. Listen in as Laurie Barkman talks with Karen about the importance of embracing disruptive change not only because of the pandemic, but as a way to invest in your future.
Listen in to learn more about:
- Driving transformation by embracing and learning from disruption and change
- Aligning your sense of self, your beliefs and your profession
- Enhancing communication, collaboration, and productivity in today’s new normal
- Integrating digital transformation into business process
Show Links:
Karen Norheim on LinkedIn
https://www.linkedin.com/in/karennorheim
Youtopian
https://youtopian.world/
Connect with the show host, Laurie Barkman on:
https://www.linkedin.com/in/lauriebarkman/
https://www.smalldotbig.com/
Subscribe to the show and follow Succession Stories on social media for more episodes:
LinkedIn:
https://www.linkedin.com/showcase/succession-stories-podcast
YouTube:
https://www.youtube.com/channel/UCQIsTkq5fwerkhEovBUiJJA
Laurie Barkman talks with Dr. JT Kostman, CEO of ProtectedBy.AI and global expert in Artificial Intelligence and Psychology. JT's unique story began as a homeless nine year old in New York City. During the early part of his career, JT dedicated his life to rescuing others as a paramedic, deep-sea diver, police, and US Army Special Forces. Eventually, that led to a career using data intelligence to protect lives. As a Data Scientist, Mathematician, and Psychologist, he is widely regarded as one of the world’s leading experts in applied artificial intelligence and cognitive computing. In the corporate sector, JT developed solutions for large companies like Digitas, Time Inc, and Samsung. Now as a global entrepreneur, his focus is enabling small and mid-size companies to use data to protect and transform their businesses. It’s an incredible “what’s next” story that is sure to inspire.
Show links:
- Dr JT Kostman LinkedIn: https://www.linkedin.com/in/jtkostman/
- ProtectedBy.Ai Website: https://protectedby.ai/
- Laurie Barkman LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Stay connected with Succession Stories, and follow us for content updates and events:
SmallDotBig.com
Succession Stories on LinkedIn
Subscribe to the Succession Stories Podcast and please share a rating and review!
You might be surprised by the statistic that 50% of business owners are unhappy after the sale of their company. Dann Scheiferstein is a serial entrepreneur who scaled up and sold three companies. He would describe himself as being in the half that felt satisfied afterwards. Listen in as Laurie Barkman and Dann discuss what he would have done differently. For business owners thinking about selling their company, this episode may increase your likelihood of success and happiness. Show Links: * dls Advising website * Connect with the show host, Laurie Barkman and sign-up for an insights newsletter to build value in your company. Visit https://www.smalldotbig.com/
Subscribe to Succession Stories and please share a rating and review!
I meet a lot of people who inspire me by their accomplishments in business. Others who inspire me by how they’ve changed their life and the lives of others. Tana Greene is all of above and more.
Tana shared her personal story about her teenage pregnancy and leaving an abusive marriage at the young age 18. When she fled with her son, she left with nothing but dreams. One was to start her own business. Flash forward to today, and Tana’s multi-million dollar companies have consistently been recognized amongst the top 100 fastest growing women-owned businesses in the United States.
In 1988, Tana co-founded Greene Group, an hourly staffing company that grew to operate in more than 20 states. She guided the company’s transformation to MyWorkChoice, a human-centered technology approach to hiring and managing the hourly workforce that keeps America’s warehousing, logistics, call center, and light industrial operations running smoothly.
We talked about Tana’s life story and her experience with domestic violence, and her power of setting goals towards a vision. She shared her philosophy and approach to business which is to create a culture of engagement that results in high performance.
There’s a lot to be inspired about in this What’s Next episode of Succession Stories with Tana Greene. Maybe you’ll share it with someone you know to help them find their voice, and pay it forward. Thanks for listening.
Listen in to learn more about:
Tuning out messages that limit your potential and ability
How laying down your vision can help you actualize it
Shaping core values that promote a healthy work culture and contribute to the success of your business
Defining yourself, discovering your voice and using this to inspire others
Show Links:
MyWorkChoice website:
https://myworkchoice.com/
Connect with Tana Greene on her website:
https://www.tanagreene.com/
Subscribe to Succession Stories! Please write a review if you enjoy the episode- your support means alot!
Connect with the host, Laurie Barkman on https://www.smalldotbig.com
Be sure to sign-up for our Insights newsletter to build value in your company.
Lloyd Wolf started his consulting business in 1989. Over 30 years he grew Wolf Consulting from a one-man show to a leading regional provider of computer support and cloud services. Lloyd talked with me about his slow and steady philosophy to growth and avoiding risks like customer concentration. But one thing was standing in his way - himself.
Realizing that he had to let go of the vine for the company to grow, Lloyd eventually delegated sales and delivery roles. Lloyd shared his experience selling the company and celebrating his retirement. Finding his next passion was an important part of the story.
Today Lloyd coaches business owners how to run better businesses and live better lives as a Professional EOS Implementer, a system that was pivotal to his success.
Listen in to learn more about:
- Getting around the challenge of customer concentration
- Enhancing your core business focus to drive value
- The importance of culture in advancing your business
- Knowing when and how to make your exit
Show Links:
Lloyd Wolf on LinkedIn
Achieve Business Services
https://www.achieve-services.com/
Connect with the show host, Laurie Barkman at https://www.smalldotbig.com/contact and sign-up for an insights newsletter to build value in your company.
Subscribe to Succession Stories and please share a rating and review!
Laurie Barkman talks with Neil Sahota. Neil helped create the artificial intelligence ecosystem that famously won Jeopardy called Watson. He's an IBM Master Inventor and artificial intelligence subject matter expert with the United Nations. Neil's written a book called Own the AI Revolution. We talked about ways to learn about AI so we don't fear the changes it can bring. AI is doing a lot of good around the world and there are practical business applications. Is AI out of reach for small to mid-sized companies? Listen in to hear Neil's thoughts on that question, and what it could mean for your company.
Listen in to learn more about:
- Whether AI is ideal for smaller and mid-sized companies
- The capabilities and limitations of AI
- Adapting AI for different use cases
- Why Ai is actually good for the job market
- How AI is driving the United Nations Sustainable Development Goals (SDGs)
Show Links:
www.neilsahota.com
Neil Sahota on LinkedIn
Own the AI Revolution on Amazon
Subscribe to the show!
Sign up for our Insights newsletter https://www.smalldotbig.com/
Request an appointment with Laurie Barkman to discuss innovation, growth or transition in your business:
https://www.smalldotbig.com/contact
Laurie Barkman interviews William and Christopher Yanakos of Reli. Father and son share pivots in the company's 40-year history that transformed the business. At the heart of Reli’s success is a strong leadership bond that has steered them through significant transitions. Harnessing powerful technologies like machine learning and predictive analytics was key. More than technology, Bill acknowledged a leadership humility when it was time to shift the company's strategy and identity towards a future inspired by Chris' vision. Listen in to learn more about: * How frontier technologies such as machine learning can create value * Embracing innovation and transition in a multi-generational business * Adapting your business culture * Owning your competitive differentiation
Show Links * Reli LinkedIn * Reli website * William Yanakos on LinkedIn * Christopher Yanakos on LinkedIn * Article: "Efficiency or Innovation: Balance Both To Emerge as a Leader Post-Recession"
Connect with the host, Laurie Barkman on SmallDotBig.com and sign-up for an Insights newsletter to build value in your company.
When it comes to transitioning your closely held company, it’s great to have options. You’ve probably heard about strategic acquisitions - like Facebook buying Instagram - or financial buyers like private equity firms acquiring companies.
Have you heard about ESOPs, employee stock ownership plans?
An ESOP allows employees the opportunity to buy stock in a closely held company to facilitate succession planning.
Currently, there are around 7,000 ESOP plans in the U.S. with estimates that 28 million employees now control about 8% of corporate equity through an ESOP.
Kristy Britsch, senior counsel at Levenfeld Pearlstein advises closely held businesses on ESOPs and helps navigate transactions and legal aspects that can arise during its life cycle.
Being part of an ESOP can provide numerous benefits to employees and the company. There are, however, several myths regarding ESOP ownership, preventing exploration of this compelling option. Listen in to Laurie's conversation with Kristy to learn what an ESOP is (and isn't) and how your company shareholders might benefit.
Show links:
Kristy Britsch: linkedin.com/in/kristybritsch
Website: lplegal.com
Subscribe to get all of the latest episodes.
Please show your support with a rating and review!
To connect with host, Laurie Barkman, visit https://www.smalldotbig.com/contact
Laurie Barkman is joined by Julie Ann Sullivan, an international best-selling author, speaker, and business culture expert. What’s the big “why” around company culture? First it’s dollars. Morale and attitudes affect employee productivity, which can negatively affect your customer service, quality, reputation, and ultimately your profits. The other “why” is related to succession. You need a good culture for your company to thrive without you one day. Listen in for actionable ideas for creating a positive and productive culture in your business. Show links: julieannsullivan.com https://www.linkedin.com/in/julieannsullivan Subscribe to the podcast and connect with Succession Stories host, Laurie Barkman at SmallDotBig.com
Did you know that unresolved conflict costs organizations about $359 billion in paid hours every year? Laurie Barkman talks with Bonnie Artman Fox, author of How Did My Family Get In My Office? Bonnie is a workplace conflict resolution expert from her experience as a psychiatric nurse and family therapist. Listen in as they talk about how we handle conflict results from how our family handled conflict at home. But our past experiences do not have to define our future. Bonnie shares ways to self-reflect, build trust, and move forward. Listen in for insights about resolving workplace conflict by getting your family out of the office.
Listen in to learn more about:
- The four R’s of resolution
- Understanding how our upbringing informs our conflict resolution style
- Self-reflection and its power
- Resolving conflict by looking within
Show links:
Bonnie Artman Fox website: https://bonnieartmanfox.com/
Connect with the host, Laurie Barkman at https://www.smalldotbig.com/
Sign up for our Insights newsletter to innovate, grow, or transition your business.
On this episode of Succession Stories, Laurie Barkman is joined by Kent Johnson, the fourth-generation CEO of Highlights, best known for its children's magazine. Listen in as they explore how Highlights' mission and values foster a culture of empathy, innovation, and customer focus that has strengthened their resolve throughout the pandemic and for generations to come.
Listen in to learn more about:
- Resilience through unexpected transitions
- Governance and succession in a family business
- Customer focused innovation
- Mission driven leadership that transcends generations
Show links:
Highlights for Children website
Connect with Kent Johnson on LinkedIn
Connect with show host Laurie Barkman on LinkedIn or
https://www.smalldotbig.com/
In this episode of Succession Stories, Laurie Barkman is joined by Dr. Kelly Henry, a successful chiropractor and entrepreneur. Dr. Henry shares how a customer service culture led his practice to be among the top 10% chiropractic clinics in the US. He also talks about his experience selling the practice and how to harness the power of customer service to drive value in your business.
Listen in to learn more about:
- How to build value by developing a customer service culture
- Core drivers values of business value
- The role mentorship and advisory services play in achieving success
- Communicating beyond words through customer experience
- Customer value as a driver of profitable growth
Show links:
Connect with Dr. Kelly Henry on LinkedIn or:
https://www.drkellyhenry.com/ Connect with Laurie Barkman on LinkedIn or:
https://www.smalldotbig.com/
Want to differentiate your business? Build a competitive moat by mapping out your customers' journey to discover what matters most to them.
Laurie Barkman, host of Succession Stories, talks with Phillip Swan about creating competitive differentiation through deep customer understanding. From his experience with global companies and high growth startups, Phillip shares insights on how customer experience can create value in your company.
Listen in to learn more about:
- How to understand the customer journey and pain points
- What is customer permission and why it matters
- Customer discovery process
- Creating a strong go-to-market strategy
- Driving value by tapping into what makes your business unique
Show Links:
Phillip Swan on LinkedIn
Connect with the host, Laurie Barkman on SmallDotBig.com and sign-up for an insights newsletter to build value in your company.
Laurie Barkman is joined by Ann Bernard, author and creator of the 365 Firsts challenge. Ann shares her life journey and how she navigated several transitions in her personal and professional life. Her story will inspire and challenge you to re-evaluate your own and find the strength within to press on even in the face of seemingly insurmountable odds.
Listen in to learn more about:
- How self awareness can help you align with your purpose
- Learning and growing from failure
- Adapting to change and disruption
Show Links
Ann Bernard’s YouTube Channel
365 Firsts YouTube Channel
First Time Storytelling YouTube Channel
Connect with the host Laurie Barkman at https://www.smalldotbig.com/
For business owners thinking about transition, get your personal readiness score at getmyprescore.com
On this episode of Succession Stories, Laurie Barkman is joined by Beth Armknecht Miller, CEO of Executive Velocity, to unpack the issues surrounding succession planning. This episode delivers insights how to prepare for succession by identifying, addressing and avoiding the most pressing mistakes that can arise for business owners and entrepreneurs.
Listen to learn more about:
- Understanding the succession planning process
- Differentiating between high potentials and high performers
- Why succession planning is part of overall strategic business planning
- Planning and succession tools
Show Notes:
Executive Velocity website - Resources
Beth Armknecht Miller on LinkedIn
EQ-i Assessment Tool
Succession Planning 9 Box Grid
Connect with the host, Laurie Barkman on SmallDotBig.com and sign-up for an insights newsletter to build value in your company.
The pandemic has changed many things for small business owners. Comparing to pre-COVID data, a 2020 survey from the Value Builder System showed that more business owners are accelerating their succession plans, looking to sell their company to a third party within five years. Additionally, business owners define “wealth” differently than before, emphasizing freedom and time to do what you want. What does wealth mean to you?
Laurie Barkman speaks with Robb McKinney, Founder of Bridgeview Wealth, about how wealth isn’t just about money.
Listen to learn more about how entrepreneurs and family businesses can pass on their values along with their money-- connecting their heart and history, with their future and finances, across generations.
Listen in to learn more about:
- Redefining the meaning of wealth
- Switching to a values and vision based strategy
- Navigating family dynamics that impact business success across generations
- Family philanthropy approach
Show links:
Robb McKinney, LinkedIn
https://www.linkedin.com/in/robb-mckinney-59798b20/
Bridgeview Wealth website
https://www.bridgeviewwealth.com/
The Ultimate Discovery Experience:
https://www.bridgeviewwealth.com/the-ultimate-discovery-experience
Laurie Barkman, LinkedIn
https://www.linkedin.com/in/lauriebarkman/
SmallDotBig website
https://www.smalldotbig.com/
Laird & Company is the oldest commercial distillery and the 26th-oldest family business in the United States. With an official founding date of 1780, the company history of apple brandy production stretches back to colonial times and George Washington. Laurie Barkman spoke with Lisa Laird Dunn, and her son, Gerard Dunn, ninth and tenth generation family members, about innovating with an eye towards the future while keeping a proud appreciation of the past.
Listen in to learn more about:
- Adapting and evolving to survive and thrive
- Importance of mentorship for new leaders
- Next generation decisions to join the business
- Cultivating and engaging their community
- Laird's Apple Aid fundraiser for bartenders
- Staying resilient during the pandemic
- New product development
Show Links:
Laird & Company website
Laird & Company Instagram
Connect with the host, Laurie Barkman, on SmallDotBig.com and sign up for an Insights newsletter to build value in your company.
Laurie Barkman talks about navigating business acquisitions and succession planning with Tom Hine, CEO of Capital Wealth Management, and author of The Zen of Business Acquisitions. Tom has acquired seven wealth management firms and conducted due diligence on more than 100 others. Tom draws from his black belt experience in M&A and karate. To increase your odds of success, you have to work at being prepared.
Listen in to learn more about:
- The Beginner's Mindset
- What buyers look for in an acquisition
- Why company cultures need to mesh instead of match
- How the best deals are the bad ones you never do
- Difference between continuity and succession planning
- Planning your transition successfully
Show links:
Capital Wealth Management website
Tom Hine LinkedIn
The Zen of Business Acquisitions book on Amazon
E29 CEO Succession and Letting Go
Connect with the host, Laurie Barkman on SmallDotBig.com and sign-up for an insights newsletter to build value in your company.
Laurie Barkman talks about building your employer brand and cultivating culture with Tiffany Castagno, CEO of CEPHR, a human resources consulting firm. Having a strong culture is foundational to succession and transition planning. As organizations adapt to changes from the pandemic, how do you maintain an environment that fosters productivity, authentic engagement, and safeguards employee wellbeing?
Listen in to learn more about:
- Critical components of brand and culture
- Conducting succession planning
- How transitions intersect with an organization’s culture
- Effective leadership amidst a crisis
- Adapting to changes in teamwork
Show links:
CEPHR Consulting website
Tiffany Castagno LinkedIn
Can a Zebra Change Its Stripes? Book on Amazon
Visit SmallDotBig to connect with the host, Laurie Barkman, and sign-up for an insights newsletter to build value in your company.
Most of us get a glimpse into the world of complex business families by watching shows like Succession and Dallas. Josh Baron, co-founder and Partner at BanyanGlobal, has had a front row seat to some of the world’s leading family enterprises and how those companies make difficult decisions during transition. Josh talked about his new book that he’s co-authored and published with the Harvard Business Review called How to Build and Sustain a Successful Enduring Enterprise. Listen in as Josh shares the five critical aspects of ownership influencing whether the company will have a successful transition to the next generation, or not.
Listen to learn more about:
- Five Core Rights that influence family ownership in businesses
- Using a Four Room Model for governance, decision making, and conflict management
- Different ways of approaching succession in multi-generational companies
- Beating the myths to have a family business that lasts for generations
Show links:
- BanyanGlobal website
- Four Rooms Model
- HBR Family Business Handbook: How To Build and Sustain a Successful Enduring Enterprise
- SmallDotBig.com and connect with host Laurie Barkman
On this episode of the What's Next Series, host Laurie Barkman talks with David Gamble, Founder of DG Coaching & Consulting, about what comes next after you achieve your dream. After an NFL Super Bowl win with the Denver Broncos, David reinvented his career by redefining success to leave a trail where there is no path. If you’re thinking about a transition, this episode may provide inspiration to help you find your next.
Show links:
DG Coaching & Consulting website
Connect with Succession Stories host Laurie Barkman on SmallDotBig.com and sign up for the Insights newsletter.
I invited listeners to submit questions and a few were about CEO succession.
To explore this topic, I invited Bruce Walton onto the show.
Bruce is a Partner at Battalia Winston, one of the world’s largest woman-owned executive search firms, and an expert at recruiting CEOs, C-Suite, and private company Boards.
We talked about Five Best Practices for recruiting external executives, competencies in a post-COVID world, and hiring up for the long term.
Whether you are a Founder, Owner, Board Member, or an incoming CEO, it's about fostering respect, rapport, and stewardship. Succession takes time to get right, and a hurried plan may be destined to fail.
Show links:
Battalia Winston website
CEO Succession White Papers from Battalia Winston
Caliper Profile
Connect with the host, Laurie Barkman on SmallDotBig.com and and sign-up for an insights newsletter to build value in your company.
Subscribe to Succession Stories, and if you enjoy the episode please share a rating and review!
Ten years ago, Laura Coe and her sister launched their company, Snapology. She was inspired to create a social and educational outlet for kids to fuel her sons’ curiosity for learning outside the classroom. Laura shared how they discovered a market niche and eventually adopted a global franchise model. The company has expanded to 150 locations across twelve countries.
Listen in to learn more about:
- Growing from her kitchen table to a global franchise
- How letting go was key to their growth
- Bringing in capable leaders and advisors
- Working alongside her siblings
- How Snapology company values helped drive business decisions during the pandemic
- Quickly adapting to an online environment benefiting kids and their families when they needed the support most
Show notes:
Snapology website
Connect with the host, Laurie Barkman on SmallDotBig.com and sign-up for an insights newsletter to build value in your company.
Subscribe to Succession Stories, and if you enjoy the episode please share a rating and review!
The Succession Stories "What's Next Series" features conversations with entrepreneurs about changes in their life and their business. Laurie Barkman speaks with Jeffrey K. Walker, Air Force Veteran and former JAG prosecutor. Jeff grew a military consulting practice that took him to 34 countries over seven years before parting ways with his partners. Eventually Jeff followed his true passion- writing, and became an award-winning author of World War I historical fiction novels. If you’re thinking about a transition in your business, this episode may provide inspiration to help you find your next.
Listen to learn more about:
- Jeff's succession story about fractured family relationships and reconciliation
- Knowing when it was time to make a change
- Separating from his founding partners to avoid succession problems
- Taking up a writing career after age 50
- Getting over your fears about the future
Show notes:
Jeffrey K. Walker website
Sweet Wine of Youth Trilogy
Connect with the host, Laurie Barkman on LinkedIn We'd love it if you subscribe to the show, and leave a positive review!
Laurie Barkman talks deal making and transition planning with Chris Brodman, President of Metz Lewis, a law firm specializing in M&A and business transactions. The COVID-19 pandemic has impacted private equity and strategic deals. As more owners are thinking about selling, is the company ready to be bought? As Chris says, when the machine breaks and you're in Florida, you don't shut down because you're the only person who knows how to kick it in the right place. Chris shares insights on what it takes to ready a business for sale and maximize value.
Learn more about:
- Succession considerations with family and bringing in an outside CEO
- Aligning vision, mission, values and incentives
- Role of Boards in private companies
- How strategic planning dovetails with transition and succession planning
- Capacity in the private equity market for the right deals
Show Notes:
MetzLewis.com website
Connect with the host, Laurie Barkman on LinkedIn or SmallDotBig.com/contact
Janet Wischnia is an Owner and former CEO of her family’s 90-year old company, Thomaston Mills. In 2019, they launched an e-commerce startup called American Blossom Linens. The new venture brought the “Made In USA” commercial linens company back to their direct-to-consumer roots. And they were well positioned to deal with the market changes a year later brought on by the COVID-19 pandemic. This is a great story about innovation in a mature business to keep investing in the long-term. Be sure to take advantage of a special offer for Succession Stories listeners that Janet shares at the end of the episode. For more insights on growing your company, visit smalldotbig.com
show links:
americanblossomlinens.com
Connect with the show host, Laurie Barkman on LinkedIn
Introducing the What's Next Series, a new monthly segment of the Succession Stories Podcast spotlighting transitions. Succession - in business and in life - is about transitions and how you embrace "what's next" matters. For many people, transitions are fueled by financial security. Laurie Barkman talks with Cheryl Fields, an entrepreneur who unexpectedly restarted her career at age 47 and found her life's passion as a financial educator.
Listen to learn more about:
- Cheryl's entrepreneurial journey - starting, growing and selling her companies
- Raising daughters as a single mom, and how they helped her when she most needed it
- Starting the next act of her career as a financial educator
- Most common financial questions entrepreneurs ask her (HINT: cash flow and retirement)
Show links:
lifestylewealthgroup.com
rhythmofriches.com
Connect with the host, Laurie Barkman on LinkedIn
Let's accelerate your business value. Visit smalldotbig.com to get your complimentary ValueBuilder Score and work with Laurie Barkman to discover where to invest your time for the biggest return.
This episode focuses on the power of connecting to create business value. Lou Diamond, CEO of Thrive Loud, is a performance mentor for sales, marketing, and leadership teams. This has been a tough year and not everyone is thriving. Authenticity and empathy are paramount. How can we do a better job as leaders at connecting with our teams and our customers? It's a great conversation about ways to challenge the status quo and power up our connections.
Listen in to learn about:
- Why now is a great time for authentic and empathetic messaging
- Communicating a clear message of what your company is focused on
- Creating a "culture of asking"- ask great questions that build relationships
- Connect-working is the new networking
- How companies are using podcasting internally to scale engagement
- How connecting translates to business value
Show links:
- ThriveLoud.com
- AIMeCast.com
- Connect with the host, Laurie Barkman on LinkedIn
Let's accelerate your business value. Visit smalldotbig.com to get your complimentary Value Builder Score and work with Laurie Barkman to discover where to invest your time for the biggest return.
Laurie Barkman and Chris Chaney from Fort Pitt Capital talk about transition planning for business owners. Many owners do not yet have robust transition plans in place. It may feel complicated because of blurred lines between personal identity, finances, and the company. Answering what success means to you is a way to start separating these lines and avoiding larger problems down the road. If you haven't started planning your business transition, you may find this episode helpful.
Listen in to learn more about:
- Ownership Mentality
- Blurred Lines Between Work and Personal Life
- Building Financial Buffers
- Successful and Fulfilling Second Chapters
- Why Culture is Key to a Successful Transition for Owners
- How Value Acceleration and Exit Planning Maximizes Value and Options
Show Links:
Fort Pitt Capital website
Connect with the Host, Laurie Barkman:
Accelerate your business value with Laurie Barkman. Visit SmallDotBig.com for your complimentary ValueBuilder Score and discover where to invest your time for the biggest return.
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Laurie Barkman speaks with Elizabeth Blount McCormick, 2nd generation CEO of UniGlobe Travel Designers. Elizabeth discussed the challenges of COVID-19 on her firm, and how focusing on client service, relationships, and fresh ideas are creating value in the new travel industry landscape.
If you enjoy the episode, please subscribe and leave a review!
Show links: * UniGlobe Travel Designers on LinkedIn, Facebook * @UniGlobeTD on Instagram * UniGlobe Travel Designers website
Follow and connect with the host, Laurie Barkman on LinkedIn
Visit SmallDotBig for more resources, podcasts, and schedule a complementary business assessment to identify opportunities to grow your business, reduce risk, and accelerate business value.
Laurie Barkman speaks with Evan J. Segal, General Partner of 412 Venture Fund. Evan shares how he grew his third generation manufacturing company and sold it to a strategic buyer. He also tells how he created a meaningful next act career in social entrepreneurship and venture investing focusing on providing greater opportunities for women and minorities. Show Notes:
- Follow Evan J. Segal on LinkedIn
- Evan J. Segal website
- 412 Venture Fund
- YPO organization
Follow and connect with the host, Laurie Barkman on LinkedIn
Visit SmallDotBig for more resources, podcasts, and make sure to reach out today for a complementary Business Assessment to identify opportunities to grow your business, reduce risk, and accelerate business value.
Shift your focus from maintaining your business to reimagining. Laurie Barkman is joined by Sean Ammirati, Co-Founder and Director of the Corporate Startup Lab and Partner at Birchmere Ventures. Listen in as they discuss how mature companies can rediscover their entrepreneurial vision and develop innovation strategies to thrive post-recession. Show notes: * LinkedIn - Sean Ammirati * seanammirati.com * Book: The Science of Growth on Amazon * Corporate Startup Lab at Carnegie Mellon * Agile Giants Podcast * HBR article "Roaring Out of The Recession" * McKinsey article, "Innovation in a Crisis - Why it is more critical than ever"
Laurie Barkman speaks with Ann Dugan, former Executive Director and Founder of the Institute for Entrepreneurial Excellence. Her expertise in succession, Board governance, and family philanthropy stems from her relationships with thousands of family businesses over 30 years. Ann shared insights how families can break the tradition of “shirtsleeves to shirtsleeves in three generations" by innovating and embracing change.
Thanks for listening! Be sure to subscribe and leave a positive review for the show.
Show Notes:
- Ann Dugan LinkedIn
- Institute for Entrepreneurial Excellence, University of Pittsburgh
- More Money Than God, by Rabbi Steven Leder
- Family Business Magazine
- Family Office Exchange
- Efficiency or Innovation? Balance Both To Emerge as a Leader Post Recession," article by Laurie Barkman
- Izhak Adizes - Corporate Lifecycle
On the Season 1 Finale, Bradley Franc, author of The Succession Solution, joins Laurie Barkman to discuss how business owners can bring the future into the present by including transition planning as part of strategic planning. Listen in as they discuss Bradley's framework to identify obstacles and develop a roadmap forward. Bradley also shares succession stories where obstacles broke up the company and the family.
Show Links:
- Bradley Franc Bio
- The Succession Solution website
- The Succession Solution book on Amazon
Mary Richter is a Shareholder at Schneider Downs, one of the 60 largest accounting and business advisory firms in the United States. Mary was a catalyst for formalizing a practice group for exit planning and succession advisory services to help clients control their destiny. When it comes to succession, it takes a realistic and objective approach to getting the oars in the same direction at the same speed. Listen in as Laurie Barkman speaks with Mary about successful transitions and common pain points, helpful insights if you're starting to think about the process for your business. Show Links: * Mary Richter LinkedIn * Schneider Downs website * Schneider Downs Exit Planning & Succession Assessment * Exit Planning Institute
James Austin company was a fourth generation family business without a succession plan. After 130 years, the company sold to a competitor in 2018. Laurie Barkman spoke with one of the family members, Doug Austin, about his experience before and after the sale. Doug was an ex-prosecutor, ex-litigator and ex-street salesman for years. His mantra was it's all about the “sale.” Now two years later, the sale has been an emotional letdown. Doug shares the ups and downs about what it feels like to sell the family business.
Show Links:
- Doug Austin LinkedIn
- KIK Custom Products
- Burton Folsom, The Myth of The Robber Barons, on Amazon
Dawn Fuchs Coleman is the former CEO of Weavertown Environmental Group, a 2nd generation company. Dawn shared her decision to join the family business, getting the keys to the company when she didn't expect it, leading a turnaround and growth, and selling the business to a strategic buyer. And that was just the beginning of her story. Five years after the sale, Dawn is living her entrepreneurial mantra, “If you're not going, you're not growing.” Listen in as Laurie Barkman speaks with Dawn about leadership and ways to build value in difficult economic times.
Show Links:
Dawn Fuchs Coleman LinkedIn
We Guide, You Grow website
Get Your Game F.A.C.E. On: The Secret to Growing Your Company in Any Economy by Dawn Fuchs Coleman, on Amazon
Weavertown Environmental Group
It's a topic on the mind of many business owners, what to do when family members are not interested or not able to run the company going forward. Listen in as Laurie Barkman speaks with Jamie Van Buren, Managing Director at Generational Transfer Entrepreneurs about his search fund that acquires legacy businesses and places energetic operators as CEOs. Jamie shares his strategies for successful transitions and managing in uncertain times. GTE business transitions typically unfold with minimal changes in the first year. But this has been a time when strategic plans last just a few days and managing unforeseen challenges is the new normal. Jamie’s mantra that hope is inspirational, but it is not a strategy, and that fuels them forward.
Show Notes:
Jamie Van Buren LinkedIn
Generational Transfer Entrepreneurs (GTE) website
8th US President Martin Van Buren
Tepper School of Business at Carnegie Mellon University
Swartz Center for Entrepreneurship
Laurie Barkman speaks with Will Knecht, Chairman of Wendell August, America's oldest and largest forge, producing hand-wrought metal giftware since 1923. In March 2010, two days after receiving its largest order ever, a fire nearly destroyed their company. Will shares his leadership lessons for resilience and transformation in the face of disaster. It's a great Made in America comeback story with a special assist from the Pittsburgh Penguins.
Show Links:
Will Knecht LinkedIn
Wendell August Forge website
Dave Morehouse, Dave Soltesz, and The Pittsburgh Penguins Foundation
Christian Werner LinkedIn
Laurie Barkman speaks with Bobby Zappala and Andy Ellis, Managing Partners of Localize Capital. This episode highlights an innovative financing approach for family owned businesses that supports long-term growth and the independence of emerging entrepreneurs. It's a strategy that may resonate with legacy businesses, technology creators, and anyone who believes it is possible for companies to grow without financial returns being dependent on a liquidity event.
Show Notes:
Bobby Zappala LinkedIn
Andy Ellis LinkedIn
Localize Capital Management website
Carlota Perez innovation wave theory
Edelweiss Holdings Company
Succession Stories Podcast LinkedIn Community
Len Caric acquired Uncle Charlie’s Sausage in 2014 after the company faced a tragic business succession. Just six weeks after acquiring the company as the new CEO, he faced a significant industry challenge. Listen in as Laurie Barkman speaks with Len about how he overcame these crises and the parallels to today with COVID-19. Len also shared his passion for teaching entrepreneurial alternatives and mentoring students at Carnegie Mellon. His insights for entrepreneurial resilience are sure to inspire.
Show Links:
Len Caric LinkedIn
Uncle Charley's Sausage
Succession Stories E08: Addressing the Transition Dilemma, Joe Bute, Hollymead Capital
Carnegie Mellon University Swartz Center for Entrepreneurship
How prepared is your business to operate without you? Do you have a structured plan in place that can be implemented, or is it only in your head? Listen in as Laurie Barkman talks with Jason Seltzer about worst-case scenarios where privately held companies weren't prepared for unexpected transitions. If you're a business owner that has not yet formalized a transition plan, this episode is for you.
Show Links:
Jason Seltzer LinkedIn
EHD Insurance
When there is no successor within the family, how do owners move to the next level of finding someone to buy and operate the business?
On this episode, listen in as Laurie Barkman speaks with Joe Bute, Managing Partner of Hollymead Capital, as he shares his strategies for investing in family-owned companies, considering liquidity options, avoiding ownership transition pitfalls, and staying resilient through challenging times.
Show Links:
- Joe Bute LinkedIn
- Hollymead Capital
- Tomanetti Food Products
- Uncle Charley's Sausage Company
Follow Succession Stories Podcast on LinkedIn
Recorded on SquadCast.fm
Listen in as Laurie Barkman speaks with Brian Baum, President of The Business Transitions Group. For business owners not yet familiar with exit planning, Brian de-mystifies how financial succession planning works so you can take a proactive approach for your future.
Show content:
- phases of transition and exit planning
- fundamentals of business valuation
- de-risking the business
- role of external advisors
Episode links:
- Brian Baum LinkedIn
- Business Transition Group
- Exit Planning Institute Pittsburgh Chapter
Recorded on Squadcast.fm
On this episode, Laurie Barkman was joined by Michael Schoedinger, President of Schoedinger Funeral and Cremation Service, a 6th generation company; and Jill Hofmans, Executive Director of The Conway Center for Family Business in Columbus, Ohio.
Some takeaways:
-
It’s never too early to start succession planning. Succession is going to happen and the process can take 3-7 years to put everything into place.
-
Leadership succession and financial succession are equally important, but totally different from a succession perspective.
-
The succession journey regarding relationships and authority is the hardest part, especially if you have to fire your grandpa.
-
Look for opportunities to innovate when there’s a market opportunity to build upon your legacy business.
Show Links:
Jill Hofmans LinkedIn
The Conway Center for Family Business
Michael Schoedinger LinkedIn
Schoedinger Funeral and Cremation Service
YPO Young Presidents Organization
Grantor Retained Annuity Trust (GRAT)
Recorded on SquadCast.fm
On this episode, listen in as Laurie Barkman explores next generation entrepreneurship from a different angle with Rick Terrien, author of Ageless Startup.
After selling his last company, Rick pondered the question of what's next. His experience became the inspiration for a book encouraging entrepreneurship at any age.
If you've been contemplating your next, you'll enjoy this discussion about ageless entrepreneurship.
Show Links:
Rick Terrien LinkedIn
Ageless Startup: Start a Business at any Age
Food21.org
Recorded on SquadCast.fm
Laurie Barkman interviews Chris Cynkar, Adjunct Professor of Entrepreneurship through Acquisition at the Tepper School of Business at Carnegie Mellon. Chris has acquired six small businesses in four industries. He shared his first success as a next generation business owner when he acquired a mature printing company from its founder. In taking over the business, Chris fulfilled the owner’s intent of a succession plan even though he wasn’t family. This episode provides insights for people considering a different path, transitioning from employee to business owner.
Show Links:
Chris Cynkar LinkedIn
chriscynkar.com
Carnegie Mellon University Swartz Center for Entrepreneurship
Acknowledgements:
Recorded in studio at Carney marketing agency in Pittsburgh, PA
This episode features Shelley Taylor, a family business advisor and expert on navigating family succession. Shelley has worked with multi-generational companies for more than 20 years, and she is the Family Council Chair for ABARTA, a 3rd and 4th generation company running one of the largest Coca-Cola distributors in the US.
Shelley shared best practices for succession, and ways to develop the next generation of leaders. For her family, next generation succession is not only about employment, it's about ownership and stewardship of the business and what it means to be an owner.
Show Links:
Shelley Taylor LinkedIn
Aspen Family Business Group
Jim Rooney is an entrepreneur and author of, A Different Way to Win: Dan Rooney’s Story from the Super Bowl to the Rooney Rule.
Jim discusses his father's family succession with the Pittsburgh Steelers, innovations, and leadership ethos:
-
Run a successful business that has meaning beyond the bottom line
-
Take the long view, even if others focus on short term gain
-
Sometimes it has to get worse before it gets better
-
Demonstrate how a culture has to change to support a new view, the legacy of the Rooney Rule
Even if you’re not a football or a Steelers fan, Dan Rooney’s legacy of leadership is sure to inspire.
Show Links:
adifferentwaytowin.com
Jim Rooney LinkedIn
"A Different Way to Win" on Facebook
On this episode of Succession Stories, Laurie Barkman is joined by Tony Uphoff, President and CEO of Thomas. Thomas is a family-owned, 5th generation 122-year old company that successfully transformed its business model, technology, and culture. Three years ago, Tony joined Thomas to continue its digital innovation.
They discussed key lessons Tony has learned about mature industries mobilizing for change, ways to drive innovation while also leveraging the core competencies of the past, and having an entrepreneurial culture in a legacy company.
If you're thinking about ways to innovate and drive change, you may find these insights beneficial for your business.
Show Links:
Tony Uphoff LinkedIn
Thomas Industry Podcast
The Succession Stories podcast is hosted by Laurie Barkman, Founder of SmallDotBig, providing insights for next generation entrepreneurs. The show features interviews with multi-generational business experts discussing succession, innovation, and culture. If you are a next generation entrepreneur looking for inspiration to grow and thrive, or an owner who can’t figure out the best way to transition their closely held company, this podcast is for you.
Listen to the trailer to get a sample of the valuable insights Laurie and her guests have to offer.