Succession Stories

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/

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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

Wolf Consulting https://wolfconsulting.com

Achieve Business Services https://www.achieve-services.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

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Become an Official Patron of Succession Stories Podcast:

https://www.patreon.com/lauriebarkman

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

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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

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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/