Core Reasons for Being Trapped: The primary
reasons owners cannot leave their businesses include strong emotional
attachment (37%), financial dependence on the business income (25%), inability
to sell at a profitable price (20%), and a lack of suitable buyers (19%). According
to LinkedIn. Workload and Burnout: Many owners are forced to work
longer hours, with 60% struggling to get time off and 54% having given up
hobbies and personal activities, according to Medium.
For Laurie Barkman: Growing up, I launched my first services
business at age 10, mowing lawns, raking leaves, and babysitting. In high
school, I leaned into leadership, learned how to address challenges head-on,
and made a lasting impact on my community. That drive to build winning teams
took me to Cornell University, where I studied Industrial and Labor Relations.
I began my career at Ingersoll-Rand, a global engineering firm, working
shoulder-to-shoulder with engineers and plant teams to reengineer operational
processes for productivity and cost improvements. It was there that I first saw
how analytical and technical leaders think.
Later, I earned my MBA from Carnegie Mellon University,
intentionally choosing a rigorous quantitative program to refine the analytical
skills I knew I’d need to lead and advise in structured, technical
environments. Over the years, I built a career spanning Fortune 500s and
startups, leading teams through high-growth transformation, including time in
logistics, SaaS, e-commerce, and operations, often in collaboration with
engineers, data-driven founders, and technical teams.
The search was part of a long-term succession plan. A
third-generation family business and leading transportation and logistics
company in North America sought a new divisional CEO. In the interview process,
I was told, “We’re not interviewing you for the next 2 years…we’re interviewing
you for the next 20.” Playing the long game excited me. Taking on this role was
a perfect storm of high expectations, internal resistance, and every eye was
watching. I wasn’t necessarily who they expected, but I knew how to create
value. I steadied the ship and shifted mindsets towards transformation.
Eventually, we guided the company to a successful sale to a Global Fortune 50
company. After the acquisition was completed, I stayed on as a senior executive
and served on the Integration Steering Committee, advising on the launch of new
e-commerce fulfillment services.
Back to the original notion of staying in the company for 20
years. As things played out, my tenure was only three. Was I disappointed? Heck
no. I realized that while we may have a plan, sometimes plans change for good
reason. The acquisition “put some money in my jeans” and gave me the
flexibility to pursue my entrepreneurial passions.
For more information: https://lauriebarkman.me/
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