In this episode, Melinda Emerson and Sarah Durham delve into the topic of exit planning for small businesses. They discuss Sarah's entrepreneurial journey, the various types of employee ownership, and the decision-making process. They also explore the challenges of making a business saleable and the financial and emotional impacts of exiting a business. The episode concludes with wisdom sharing on exit strategies.

(0:00) Introduction and discussion about exit planning

(3:08) Sarah Durham's entrepreneurial journey and business transitions

(7:47) Different types of employee ownership and the decision process

(11:06) Making a business saleable and challenges during transition

(14:21) Financial implications and timing of business exit planning

(17:09) Emotional impact and finding meaning in career transition

(18:59) Role of authenticity and self-confidence in business leadership

(20:10) Wisdom sharing on business exit strategies

(21:24) Sponsor: Small Business University's November discount

(21:38) Closing remarks from Melinda Emerson