Succession Stories

Join host Laurie Barkman, The Business Transition SherpaⓇ, as she celebrates four years of inspiring conversations and life-changing insights on the Succession Stories podcast.

With over 4.5 million companies and $14 trillion of business wealth at stake in the next decade, Laurie's mission to guide entrepreneurs through their succession journeys has never been more crucial.

Laurie unveils The Endgame EntrepreneurshipTM Masterclass, designed to guide entrepreneurs through the complexities of business transition.

This comprehensive online course offers self-paced video lessons, exercises, and a supportive community of advisors to help you maximize your business value and plan for a meaningful future.

With millions of businesses at a crossroads, there's an imperative to go beyond exit strategies. It's about creating meaningful legacies and embracing the emotional journey of letting go.

What's your entrepreneurial endgame?

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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/

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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

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

Did you know that 87% of the businesses in the United States are family owned? That's 32.4 million family businesses and they contribute $7.7 trillion to the GDP.

Pat Soldano, a strong advocate for family businesses, joins Succession Stories host Laurie Barkman, The Business Transition Sherpa.

Pat is the President of Family Enterprise USA (FE-USA) whose mission is to promote the growth of generational owned family businesses in the US. She is also President of Policy and Taxation Group that works to reduce onerous tax and economic policies for successful families, family business, and family offices.

Family Enterprise USA is relied upon to be the voice in Washington, DC for family businesses, generationally owned businesses, and multigenerational businesses across the US.

Listen in as Pat and Laurie discuss policy related challenges, particularly around taxes and estate planning. Succession planning impacts family businesses and that proactive planning is the way to mitigate some of these challenges over time.

Find Pat Soldano Here:

https://familyenterpriseusa.com/

https://policyandtaxationgroup.com/

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

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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.

https://thebusinesstransitionsherpa.com/course/

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My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

From humble beginnings to founding Magnum Nutraceuticals, Markus Kaulius shares the saga of transforming a passion into a $170 million empire with Laurie Barkman, The Business Transition SherpaⓇ. Discover the pivotal moment when Markus transitioned from operator to visionary owner, crafting a culture of empowerment and resilience. Learn how he scaled his business, fostered a vibrant company ethos, and navigated the delicate dance of succession. Join them as they unveil the human side of entrepreneurship, offering a roadmap for aspiring business moguls seeking fulfillment and legacy in their own ventures.

Listen in to learn more about:

1. How building a business aligned with your passions can lead to greater fulfillment and success;

2. How surrounding yourself with skilled individuals who share your vision can help you make better decisions;

3. The importance of developing a scalable business model that can grow beyond your individual efforts;

4. Why you should have an exit strategy in place, even before you find the right buyer;

5. And how collaboration refines the transition and negotiation process for everyone's benefit.

Find Markus Here:

playabiggergame.com

https://www.instagram.com/markuskaulius/

https://www.facebook.com/markus.kaulius

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

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

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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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

75% of owners express regrets one year after selling. We're a mission to break the cycle.

What do we fear in times of transition? How do we develop a vision for ourselves beyond today?

When it comes to business transition, the identity we have – business owner, CEO, leader, family member, all play a part.

Heather Penny works with business leaders on ways to embrace change and anticipate life changes so they don't control us.

Listen in as host Laurie Barkman, The Business Transition Sherpa, talks with Heather about ways to overcome personal fears in business transition planning.

Find Heather Penny Here:

https://heatherpenny.com/

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Be sure to subscribe to the show and sign up for our newsletter at https://thebusinesstransitionsherpa.com

Host of the #1 stock investing podcast in the world, "We Study Billionaires" Kyle Grieve, joins Laurie Barkman on today's episode. As part of The Investor's Podcast Network, Kyle helps professional investors and business people all over the world grow financially and personally.

Listen in as they explore how acquisitions can be a successful growth strategy through the lens of publicly traded company transactions. We also discuss common mistakes and why deals can go wrong even with successful investors like Warren Buffett.

Finding the right buyer is relevant in the public markets and privately-held companies. A key takeaway for growth through acquisition is to focus on targets with predictable cash flows that fit your areas of expertise and focus on integration early in the process.

Listen in to learn more about:

• The importance of strategic fit between acquiring and acquired businesses for deal success.
• Keeping founders involved post-acquisition to aid in cultural integration and knowledge transfer.
• How established acquisition playbooks can help larger companies smoothly integrate new businesses.
• The risks of extrapolating short-term performance without considering changes to macro factors that could impact growth.
• Vetting potential acquirers' track records of retaining staff, culture and independence of past deals to find the best buyer.

Find Kyle Grieve Here:

https://www.theinvestorspodcast.com/

https://twitter.com/IrrationalMrkts

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Laurie Barkman, The Business Transition SherpaⓇ, talks with Tony Whatley, a 20+ year serial entrepreneur, business coach, best-selling author, podcast host, and speaker. Tony is Co-Founder of LS1Tech, an online automotive performance community which grew into the largest of its kind with more than 300,000 registered members and 150 advertising accounts. After only 5 years, the company sold for 7-figures and amazingly, it was just his part-time business!

Tony shares his mindset and business strategies within his Amazon #1 best-selling book, Side Hustle Millionaire, and teaches people how to startup, scale, and exit their companies within his coaching group and podcast, 365 Driven.

Learn the valuable lessons Tony gleaned about assessing digital assets from an acquirer's perspective and advice for overcoming fears that can arise when selling your baby. Reflecting on core purpose and goals can help smooth the rollercoaster.

Tune in to get practical tips for launching and growing your own venture.

Listen in to learn more about:

• Treating your side business like a serious venture from the start by implementing professional processes and systems.
• Growing your audience organically through strategic partnerships and promotions without relying on social media.
• Properly valuing your digital assets and database from an acquirer's perspective to get the best price in a sale.
• Taking consistent action on your business ideas instead of just learning through endless planning.

Find Tony Whatley Here:

365driven.com

instagram.com/365driven

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Host Laurie Barkman, The Business Transition Sherpa, is joined by Greg McDonough, Managing Partner of Blackburn Capital Advisors and host of the Chief Endurance Officer Podcast.

Listen in as they discuss navigating a business turnaround through bankruptcy.Bankruptcy can be viewed as a tool for recovery rather than a sign of failure.

Greg discusses his experience isolating the root cause of the company's financial issues and creating breathing room from creditors to reorganize fixed costs and debts.Greg also shares how his passion for endurance sports gave him the resilience that he needed to get through the restructuring process.

Learn when bankruptcy might be a solution. After all, hope isn't a strategy when it comes to solving cash flow problems.

Listen in to learn more about:

• How isolating the root cause of financial struggles and making deeper cuts early can help turn a business around
• Why companies should view the bankruptcy process as a tool for recovery rather than a sign of failure
• Importance of resilience and endurance for entrepreneurs facing challenges
• Address the risk of tying financial recovery only to revenue projections

Find Greg McDonough Here:

www.blackburncap.com

www.chiefenduranceofficer.com

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Susan Keller, Founder of Entrepreneurial Executives. Susan advises businesses from startups to publicly traded companies on growth strategies and transactions.

Laurie talks with Susan as a fellow M&A Advisor about why it's valuable for entrepreneurs to get an early start with transition planning. A great place to begin is conducting a thorough business evaluation to identify what needs improvement in the business.

They also discuss the challenges of owner dependency, and separating your identity from the company. Emotional considerations can arise if not. Set an intention to separate yourself from your business to see what aspects of your culture and values a potential buyer might want to preserve.

Top 5 takeaways:

1. Complete a comprehensive business assessment to identify operational gaps and formulate a robust transition plan.
2. Approach projects from the perspective of a potential buyer to enhance the business's appeal in the market.
3. Create a clear CEO job description to recognize dependencies and optimize the business's value.
4. Conduct thorough due diligence on potential partners to ensure a seamless and beneficial transaction.
5. Foster collaboration among all parties involved to achieve a mutually beneficial deal and pave the way for a successful transition.

Find Susan Keller Here:

https://www.ceoatlas.com

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

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Host Laurie Barkman, The Business Transition Sherpa, talks with Jon Eesley, Partner at Windsor Advisory Group. With over 45 years of experience working with privately held businesses, Jon has helped countless business owners navigate the complexities of succession planning. His approach focuses on understanding clients' personal goals and values to develop financial strategies that support their vision.

Laurie and Jon discuss ways to approach the transition planning process to overcome fear by leaning in on your personal motivations and vision for your legacy. Learn how to clarify your purpose beyond financial gains. Plan a succession that combines your head, heart, and calculator to ensure future generations maintain the family legacy.

Listen in to learn more about:

• Strategies for clarifying your personal motivations beyond financial security
• Best practices for establishing clear family values and legacy
• Ensuring you find fulfillment in your next chapter beyond financial gains
• Questions to consider about your role and purpose before transitioning your business
• Advice for prioritizing purpose over legalities in your succession plan

Enjoy this Succession Stories episode on preparing for a successful ownership transition with Jon Eesley.

Find Jon Easley Here: https://windsoradvisorygroup.com/

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

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.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 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

Host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Darryl Bates-Brownsword, Managing Partner of Succession Plus in the UK. He hosts The Exit Insights Podcast and is a business consultant with over two decades of experience building and selling companies.

They discuss the importance of preparing for business exits and scaling entrepreneurial ventures. For business transition, you need a well-thought-out plan, valuation growth, and clear vision for the future.

Listen in to learn more about:

• Making a mindset shift from revenue growth to valuation growth to make a business more attractive for exit.

• Beginning with the end in mind to know what you want as an outcome from exiting your business and what your vision is for after exiting.

• Planning the "earnout period" before exiting to de-risk the business transaction

Show Links:

https://succession.plus/us/

https://www.linkedin.com/in/darrylbates-brownsword/

https://succession.plus/uk/podcasts-uk/how-to-objectively-value-your-business-for-maximum-exit-success/

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

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ENDGAME ENTREPRENEURSHIP MASTERCLASS

LEARN HOW TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:

https://thebusinesstransitionsherpa.com/course/

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com

Guest Bio:

Darryl Bates-Brownsword is a dynamic, driven Business Consultant and Coach with over 20 years of experience and passion for creating successful outcomes for founder-led businesses. He is a great connector, team builder, problem solver, and inspirer — showing the way through complexity to simplicity. He has built two international multi-million revenue businesses; one now operating in 16 countries. His quick and analytical approach cuts through to the core issues quickly and identifies the context. He challenges the status quo and gets consistent, repeatable and reliable business results.