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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa Connect with Casey Cheshire:

LinkedIn: in/caseycheshire

Website: ringmaster.com