Why you've got to check out today's episode:

• Discover the essential strategies for succession and exit planning to ensure a smooth transition for your business and be prepared for the inevitable.
• Find out how to reap the rewards of your hard work and find the true value of your company's worth.
• Discover the essential actions, key stakeholders to engage, and effective strategies for successful succession planning. By taking proactive steps, you can ensure preparedness and minimize the risk of job losses and business disruptions.

Resources/Links:

• Click here to 'How to Avoid the Succession Pitfalls and Create Valuable Exit Options': https://thebusinesstransitionsherpa.com/the-business-transition-handbook/

Summary:

Is the idea of succession planning always being pushed to the side?

Before it's too late, it's important to assess your company's value and ensure that you are duly rewarded for it. Whether the company is sold or not in the future, proper preparation can help you avoid succession issues and facilitate a smooth transition for your business.

Laurie Barkman, The Business Transition Sherpa(TM), works with owners from transition to transaction as a business growth and M&A Advisor. Author: "The Business Transition Handbook". Host: "Succession Stories Podcast"

Join Laurie as she explores through the importance of succession planning and helps you develop valuable exit strategies for your business.

Check out these episode highlights:

• 01:46 - Laurie's ideal client: Business owners in the United States who are contemplating ownership succession within the next five to seven years from the transaction standpoint.
• 02:05 - The problem Laurie helps her client solve: 100% of owners are gonna leave one day, but very few are prepared. 
• 02:42 - Symptoms of the problem her clients are facing: They don't know what to do. They don't know what steps to take. They don't know who to work with.
• 04:11 - Mistakes clients make before seeing Laurie: They just keep pushing it to the back burner. It's the classic important, not urgent thing to do until it is urgent.

• 06:04 - Laurie's Valuable Free Action [VFA]: The number one thing is to set an intention. 
• 06:59 - Her Valuable Free Resource [VFR]: wwwthebusinesstransitionhandbook.com
• 07:29 - Q: How did I get started in being a merger and acquisitions advisor and business transition advisor? A: I went through a transaction with a privately held company, was hired in from the outside and it was a very, very successful exit, that's how I got started with it. 

Tweetable Takeaways from this Episode:

"Set an intention for your end game, even if it's 5, 7, 10 years away; think forward to be able to look backward." - Laurie Barkman