Succession Stories

🎙️ Discover how scaling starts with mindset in this insightful episode of Succession Stories!

Laurie Barkman welcomes Jennifer Dawn, a seasoned entrepreneur, business coach, and host of the Happy Productive podcast, to share her journey of building and selling businesses. From launching her first venture at age 8 to founding Quantix, a software company for the attractions and amusement industry, Jennifer reveals what it takes to create a thriving company that's not just profitable but sustainable and satisfying.

In this conversation, Jennifer offers actionable insights on scaling a business by shifting the owner's mindset, building teams, and transforming companies from the inside out. She also shares personal stories, her approach to solving challenges, and the traits that set successful entrepreneurs apart.

Connect with Jennifer Dawn:

🌐 Website: jenniferdawncoaching.com

📚 Podcast: https://jenniferdawncoaching.com/podcast/

📘 LinkedIn: https://www.linkedin.com/in/jenniferdawn/

Listen now for expert advice on scaling smarter and building a lasting legacy!

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"

Download here.

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Christin Cardone McClave knows firsthand the complexities of leading and selling a multigenerational family business.

Host Laurie Barkman talks with Christin about her journey of navigating leadership roles at her family's third-generation business, CARDONE Industries. During her tenure as Chief People Officer and COO, she helped the company reach an impressive $1B revenue milestone. In May 2019, she played a pivotal role in the successful sale of CARDONE Industries to a leading global private equity firm.

With extensive experience spanning Johnson & Johnson, family governance, and business strategy, Christin offers actionable insights into the emotional and strategic aspects of selling a family business. This episode delves into her process, including overcoming challenges, embracing transitions, and building a fulfilling work-life outside of the family business.

In addition to serving as a distinguished family business strategist, public speaker, and seasoned board member, Christin is also a "spousepreneur," co-leading OrangeStar Ventures with her husband, managing diverse businesses and investments. Her passion for leadership, governance, and mentorship is evident through her work with organizations like World Vision USA and the PRAXIS Labs accelerator program.

Takeaways: ~ Selling a family business is an emotional journey—coaches and mentors can be invaluable in navigating this process. ~ Building a legacy beyond the family business is possible through vision, resilience, and governance. ~ Preparing for a sale requires careful consideration of employees, business debt, estate planning, and family dynamics. ~ A non-family executive team can bring fresh perspectives to family-owned enterprises.

Quote of the Show: "Life beyond the family business is possible when you own your choices and focus on building a vision for what's next." - Christin McClave

Connect with Christin:

https://www.linkedin.com/in/christinmcclave/

www.orangestarventures.com

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"

Btsherpa.com/book

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❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

• Gratitude and Reflections - 01:00
• 2024 Show Highlights - 04:58
• Lessons Learned from Guests - 07:45
• Looking Forward to 2025 - 10:24
• Special Invitations for Listeners - 15:05

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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 here: https://btsherpa.com/book

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Connect with Laurie Barkman:

LinkedIn: https://www.linkedin.com/in/lauriebarkman/

Website: https://thebusinesstransitionsherpa.com/

Book: https://btsherpa.com/book

Course: https://freedom-finder.thebusinesstransitionsherpa.com/freedom-finder-course

Videos: https://www.youtube.com/@TheBusinessTransitionSherpa

For all episodes visit: https://successionstories.com

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Daniel Feiman, is an internationally recognized leader in the areas of strategy, succession, and leadership development. He's the Founder and Managing Director of Build It Backwards, a consulting and training firm working with small businesses and enterprises in over 30 countries including Apple and Hilton Hotels.

He's also the author of "THE Book on...Succession Planning Systems." Listen in as Laurie and Daniel explore the topic of future-proofing your firm and how succession planning builds value.

Too many owners and leaders take the short term view, and wait too long to address succession. What can you do now?

Laurie and Daniel have suggestions that you can start implementing today. Enjoy this Succession Stories episode about succession planning systems with Daniel Feiman.

Links:

• Website: www.BuildItBackwards.com
• LinkedIn: Daniel Feiman LinkedIn

Succession Stories is Sponsored by The Business Transition Sherpa®

Consider this: 100 percent of owners will leave their business one day. But few are prepared. Are you? Learn how to build business value and plan for succession, transition, or selling the business on your terms.

Download FREE digital copy of The Business Transition Handbook:

https://btsherpa.com/book

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Did you know that only 20% of businesses sell... and 75% of owners express regret after selling?

Dive in as Succession Stories host, Laurie Barkman, talks with Jerome Myers about why just 5 out of 100 of businesses exit with excellence.

Jerome is the founder of Exodus and an award-winning engineer turned business strategist who helps leaders navigate post-exit transitions. Through his NEO Navigator program and DreamCatchers podcast, he guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.

He brings extensive experience from leading a $20M operation in a Fortune 550 corporate startup, and guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.

This episode will get you thinking about how you can exit with excellence!

Topics:

• The Founder's Exit Paradox: Dive deep into the emotional and psychological challenges founders face when exiting their businesses and how to navigate this transition.
• Planning for Post-Exit Fulfillment: Discuss strategies for aligning new ventures and personal passions after exiting a business to ensure continued fulfillment.
• Creating a Purpose-Driven Exit Strategy: Share insights on building an exit strategy that not only maximizes financial returns but also aligns with long-term personal goals.
• The 8 Exits of a Founder: Introduce and explain the framework Jerome developed to help founders understand the different types of exits and how to choose the right one.
• Navigating Identity Realignment After Exit using the N.E.X.T. Framework: Talk about the importance of recalibrating personal identity after leaving a business and how founders can thrive in their next chapter.

Links:

• LinkedIn: linkedin.com/in/jeromemyers
• Website: exittoexcellence.com

Succession Stories is Sponsored by The Business Transition Sherpa®

• LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/
• Website: https://thebusinesstransitionsherpa.com/
• Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
• Course: https://thebusinesstransitionsherpa.com/course/

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Laurie Barkman interviews Albert Ciuksza to challenges faced by millennial successors as they take over from baby boomer predecessors. Listen in as they discuss Albert's new book, "Succeeding: Stepping Up Without Stepping In It."

There's a demographic shift, with 10,000 baby boomers retiring daily from 2024 to 2027, often skipping over Gen X. There are emotional dynamics of succession that can sabotage successful transitions due to emotional attachment. Dive in to learn about practical tools for navigating succession effectively and avoid leadership mistakes.

Links for Albert:

https://solutions21.com/succeeding/

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"

https://thebusinesstransitionhandbook.com

_______________________________________

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Laurie Barkman interviews brothers and business partners, David and Chris Sinkinson, about their experience as co-founders of AppArmor, a bootstrapped SaaS business with a $40 million exit. They discuss the importance of understanding product-market fit, the role of unhappy customers in identifying issues, and the significance of recurring revenue in their app business. The conversation highlights the value of building relationships with potential buyers over time, which contributed to their successful exit.

They emphasize the importance of selling at the right time to capitalize on growth potential. The brothers also share their experience of transitioning out of the company and their ongoing efforts to help other entrepreneurs in their new venture called Startup Different. Check out their podcast and new book called "Startup Different."

Enjoy this episode with Chris and David Sinkinson and their succession story from idea to exit.

Links for Chris and David:

Website: https://www.startupdifferent.com/

LinkedIn: https://www.linkedin.com/company/startup-different/

Instagram: https://www.instagram.com/startupdifferent/

YouTube: https://www.youtube.com/@StartupDifferent/

• LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/
• Website: https://thebusinesstransitionsherpa.com/
• Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
• Course: https://thebusinesstransitionsherpa.com/course/

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Today's episode is a rewind of one of our favorite conversations with Karen Norheim, a second generation CEO of American Crane, a manufacturing company founded by her father. The show first aired in 2021.

Listen in as show host Laurie Barkman, The Business Transition Sherpa, talks with Karen about what fueled their succession story.

Karen stepped into her new role with curiosity and tenacity to make things happen. She led the company to lean in on strategic growth and innovation and are seeing the benefits.

As an update to the show, later in 2021, the family experienced the unexpected death of her father. Fortunately Karen and the company were well positioned.

Connect with Karen:

https://www.karennorheim.com/

https://www.americancrane.com/

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Stop feeling like a prisoner of your own company, and start feeling a sense of freedom like when you first started your business.

We'll show you how.

Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.

Get a 15% discount at checkout with code: successionstories15

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of Laurie's book "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options":

https://thebusinesstransitionhandbook.com

_______________________________________

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Host Laurie Barkman, The Business Transition Sherpa®, interviews Maryann Bell, a partner at Wingspan Legacy Partners, about the common myths and challenges facing next generation successors in family businesses.

Maryann shares insights on the importance of communication, education, and bringing in outside expertise to navigate the delicate dynamics of family business transitions.

Listen in as they discuss strategies for stair-stepping next gens into the business, assessing fit, and managing the transfer of ownership and authority.

This episode provides valuable guidance for family business leaders and successors looking to ensure a smooth and successful succession.

Show Notes:

- Common myths facing next generation successors in family businesses - Challenges family business advisors face, including uncertainty and communication issues - Advice for families on embracing succession planning and bringing in outside expertise - Importance of engagement, education, and clear employment policies for next gen successors - Navigating the balance between leadership and ownership succession - Strategies for assessing fit and managing non-operating family members - Transferring ownership and authority, and the shift from owner-operator to owner-investor

Connect with Maryann Bell:

Wingspan Legacy Partners

Maryann Bell LinkedIn

What's your entrepreneurial endgame?

If you want your business to be ready to sell at maximum value, now is the best time to start planning.

Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.

Get a 15% discount at checkout with code: successionstories15

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com

_______________________________________

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Host Laurie Barkman, The Business Transition Sherpa, talks with Henry DeVries, publisher, writer, and CEO of Indie Books International.

Listen in as Henry debunks a few myths about creating a sustainable competitive advantage in service businesses through niche specialization.

They also discuss the importance of candid conversations in business ownership transition and exit planning to offer valuable takeaways for business owners. Henry shares how he is planning for succession and exit with a focus on growth and value. Defining the legacy and impact a business owner wants to leave behind is a key part of the planning process.

Find Henry DeVries Here:

http://www.linkedin.com/in/henryjdevries

Indie Books International Website

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BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?

Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.

Book a call to learn more:

https://thebusinesstransitionsherpa.com/course/

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com