Succession Stories

Unlock the story behind Reid Tileston's remarkable entrepreneurial journey in this episode of Succession Stories. Join Laurie Barkman, The Business Transition Sherpa®, as she sits down with Reid, a driven acquisition entrepreneur, to dive into his inspiring path from a 23-year-old with $100k to a thriving Anytime Fitness franchisee.

Through candid conversation, Reid shares the highs and lows of his entrepreneurial journey. From navigating the challenges of owning an Anytime Fitness franchise during the rough Great Recession to achieving top-tier success across multiple units, Reid offers invaluable insights into the world of acquisition entrepreneurship.

Discover the pivotal lessons Reid has obtained from buying and selling four companies. Learn why he stresses the crucial role of assembling the right team and adopting the mindset of an "entrepreneurial business owner" who strategically works on the business rather than being consumed by day-to-day operations. Diving into the emotional dynamics of business sales, Reid draws from his doctoral research on seller satisfaction post-sale. He underscores the importance of intentionality, emphasizing the need for sellers to grasp their business's true value and envision their role post-sale with clarity.

Get a sneak peek into Reid's forthcoming book, "Grit It Done," which promises illuminating insights into the world of acquisition entrepreneurship. Don't miss this episode filled with wisdom, inspiration, and the raw realities of entrepreneurial success.

Listen in to learn more about

• The journey from finance to fitness franchise mogul

• Navigating the Great Recession and Beyond

• The untold stories of selling businesses

• Building teams and creating freedom

• A sneak peek into the upcoming book, "Grit It Done"

Resources & Links

Laurie R. Barkman

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

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

• https://thebusinesstransitionsherpa.com/

Reid Tileston

• http://www.grititdone.com

• http://www.reidtileston.com

• https://www.linkedin.com/in/reidtileston/

Resources

• Book: "Grit It Done" by Reid Tileston

• Book: "The Business Transition Handbook" by Laurie Barkman

Host Laurie Barkman, The Business Transition Sherpa, talks with David Spray, Founder and President of Export Advisors, which serves the owners of privately-held, U.S. exporting companies. Over the past 20 years, the firm has created more than $400 million in wealth for hundreds of entrepreneurs and their families from the IC-DISC tax savings program.

They discuss value building and how David built a niche podcasting business with infinite ROI, and sold it within two years to his partner.

Listen in to learn more about:

• Finding your niche and owning it
• Building a specialized business with recurring revenue
• Making your business highly transferable to a buyer

Enjoy this Succession Stories episode about how to create a profitable niche business to sell with David Spray.

Find David Spray Here:

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

https://www.ic-discshow.com/

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

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Show links:

Endgame Entrepreneurship Masterclass:

https://thebusinesstransitionsherpa.com/course/

Download free eBook of "The Business Transition Handbook" by Laurie Barkman:

https://thebusinesstransitionsherpa.com/the-business-transition-handbook/

Connect Via Email:

[email protected]

Leave Voice Message on Speakpipe:

https://www.speakpipe.com/LaurieBarkman

❤️ Show us the love on Rate This Podcast:

https://ratethispodcast.com/successionstories

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Laurie Barkman guides entrepreneurs to create life changing succession stories. Dramatically increase enterprise value and build with your exit in mind.

Find clarity on the often overwhelming process of transition planning. Visit https://thebusinesstransitionsherpa.com for an assessment of value and to schedule a strategy call.

Host Laurie Barkman, The Business Transition Sherpa, talks with Mike Malatesta, CEO of LJP Waste Solutions. Over the past 30 years, Mike's experienced the highs and lows of entrepreneurship. He built and sold two waste recycling companies that grossed more than $500M. He's also an author, podcaster, and advisor to business owners.

Mike talks about the unexpected death of one of his business partners due to a workplace accident. Dealing with the loss was challenging and accelerated their interest in a potential exit.

You'll want to hear why Mike believes entrepreneurs should not sell their business without the help of advisors and the mistake that cost him $4 Million.

For a successful exit, reflect on where you are now, what you want, and what the first step is to move towards that goal.

Listen in to learn more about:

• Why entrepreneurs should not sell their business on their own
• What triggered a $4M reduction in purchase price from the strategic buyer
• Why due diligence when selling your business can be overwhelming
• Selling a business, negotiation mistakes, and lessons learned
• Avoiding negotiation pitfalls when selling your business

Show links:

Join the Endgame Entrepreneurship Masterclass:

https://thebusinesstransitionsherpa.com/course/

Download free digital copy of Laurie's book, "The Business Transition Handbook" or grab your copy on Amazon:

https://thebusinesstransitionsherpa.com/the-business-transition-handbook/

Join Our Facebook Group:

https://www.facebook.com/groups/businesstransitionsherpa

❤️ Show us the love on Rate This Podcast:

https://ratethispodcast.com/successionstories

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Laurie Barkman guides entrepreneurs to create life changing succession stories. Dramatically increase enterprise value and build with your exit in mind.

Find clarity on the often overwhelming process of transition planning. Visit https://thebusinesstransitionsherpa.com to schedule a conversation and get started.

Succession Stories host Laurie Barkman, The Business Transition SherpaⓇ, sits down with JV Crum III, founder of the Conscious Millionaire Institute and Conscious World Foundation Inc.–a global non-profit that trains youth to become conscious leaders.

What happens when you're asked to join the family business but then discover there are BIG financial challenges? JV shares his experience how he helped turn around a family trucking company and became a millionaire by age 25. He overcame conflicts with his father, improved business performance, and sold to a larger family-owned trucking line, resulting in a transaction that took only three months to close.

In this insightful episode, they dive into the complexities of family businesses, founder-led enterprises, and the unique challenges faced by hired executives.

Listen in to learn more about:

• Understanding the importance of aligning personal purpose with business goals to achieve fulfillment and success.

• Recognizing the impact of family dynamics in business and learning strategies to navigate them effectively.

• Gaining insights into the process of selling a business, including finding the right buyer and negotiating a successful deal.

• Embracing a mindset shift towards prioritizing internal growth and mindset development as the key drivers of business success.

• Discovering the three essential areas of focus for business growth: mindset, strategy, and execution.

Things often happen at the right moment when you least expect it.

Enjoy this Succession Stories episode about successfully exiting a family business after turning it around with JV Crum III.

Find JV Crum III Here:

https://consciousmillionaire.com/

https://www.facebook.com/jvcrum/

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

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SIGN-UP FOR NEW MASTERCLASS

TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:

"Endgame Entrepreneurship: Build With The Exit In Mind"

https://thebusinesstransitionsherpa.com/course/

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Unlock deeper insights into entrepreneurship and scalability by engaging with us through various social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

Succession Stories host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Meghan Lynch, the driving force behind Six-Point Creative, a marketing services firm dedicated to empowering family-owned and closely-held businesses. Meghan's mission is to help family businesses compete against industry giants.

Listen in as they explore:

• The challenges that family businesses face in balancing sustainability and growth
• Strategies for family businesses to achieve 2X growth while maintaining control over relationships, messaging, and future direction
• 3 essential steps for family-held businesses to achieve their goals in the coming year and beyond

Enjoy this Succession Stories episode about how family businesses navigate growth crossroads with Meghan Lynch.

Find Meghan Here: https://sixpointcreative.com/

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

_______________________________________

SIGN-UP FOR OUR NEW MASTERCLASS

TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:

"Endgame Entrepreneurship: Build With The Exit In Mind"

https://thebusinesstransitionsherpa.com/course/

_______________________________________

Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

Welcome back to the Succession Stories podcast. If you haven't already, be sure to subscribe, and if you enjoy the show, please leave us a review! Go to RateThisPodcast.com/successionstories.

Host Laurie Barkman welcomes Max Lewis, entrepreneur and author of "Who Is Max Lewis?" Max shares what led to the eventual sale of his company for $37 million.

From selling mangos as a child to amassing millions by exchanging propane tanks, Max beat the odds and became one of America's ultra-high net-worth individuals by 36 years old. Through persistence, hard work, and a willingness to learn from mistakes, he tactfully planned for nothing less than success.

It's also about a family in business that fell apart as a family business. For 18 months, Max was literally locked out of his business by his brother.

Max's story is about forgiveness, resilience, and the power of faith. There are lots of pivotal moments in our lives. Which ones will stand out to transform your entrepreneurial journey?

His message is that extraordinary success is within your reach—when you're willing to put in the work.

Enjoy this Succession Stories episode about discovering the secrets behind a $37 million exit with Max Lewis.

Find Max Lewis Here: https://whoismaxlewis.com/

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

_______________________________________

SIGN-UP FOR NEW MASTERCLASS

TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:

"Endgame Entrepreneurship: Build With The Exit In Mind"

https://thebusinesstransitionsherpa.com/course/

_______________________________________

Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

Ralph Ward is the editor of the Corporate Board Magazine and an expert in corporate governance. He's the author of six books on corporate governance and board issues. I asked him to join me on the show to talk about best practices for private company boards.

It's about governance and strategic guidance. Boards aren't just for large public companies. Even newer, privately held firms can benefit from having a board. Boards also get involved in CEO succession planning. We address challenges faced by family businesses and how boards can help navigate these complexities.

Enjoy this Succession Stories episode about why your company might need a board with Ralph Ward.

• Corporate governance and board formation in private companies.
• Board formation in private companies often delayed until crisis strikes
• Private companies can bring in outside directors with experience in succession planning to help founders navigate family dynamics and ensure a smooth transition.
• Advisory boards can help with succession planning and governance in family businesses.
• Advisory boards can provide outside perspectives and help with growth stage challenges in companies.
• Tips and tools for dealing with drama in the boardroom and improving corporate governance.
• Advisory boards can provide valuable networking opportunities for companies, connecting them with important people in their industry.

Find Ralph Here:

www.corporateboard.com

www.boardroominsider.com

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

_______________________________________

SIGN-UP FOR NEW MASTERCLASS

TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS:

"Endgame Entrepreneurship: Build With The Exit In Mind"

https://thebusinesstransitionsherpa.com/course/

_______________________________________

Engage with us on our social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

Welcome back to the Succession Stories podcast. If you're not already, please give me a follow on LinkedIn and Instagram @lauriebarkman. Be sure to subscribe, and if you enjoy the show, please leave us a review! Go to RateThisPodcast.com/successionstories.

Today we welcome Alex Neist, a serial entrepreneur and former professional athlete. Alex is the founder of Hostage Tape, a health enhancement product that has quickly scaled into an e-commerce powerhouse, generating seven figures in monthly revenue.

Alex shares his succession stories from AFL quarterback, to tech company founder, and selling the business to a strategic buyer in a cash and equity deal.

You'll want to hear why Alex decided to leave once his equity vested, and his journey of self-reflection and personal challenges to overcome. Eventually it led to the origin story behind Hostage Tape and how he's creating scalable businesses around commodity products.

Alex believes that to get better, you have to be able to confront failure.

Enjoy this Succession Stories episode about how to build a scalable business with Alex Neist.

Find Alex Neist Here: https://instagram.com/hostagetape

Visit Hostage Tape at https://hostagetape.com

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

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Get 1:1 Strategic Implementation High-Touch Advisory Your strategic roadmap for Scale, Value, and Freedom

Book Your Consultation: https://btsherpa.com/advisory

_______________________________________

Embark on a journey of understanding and practical application as we navigate the realms of building a scalable business, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://lauriebarkman.me/book

Succession Stories host Laurie Barkman, The Business Transition Sherpa™, welcomes Cesar Quintero, a serial entrepreneur in the foodservice industry.

At age 24, Cesar moved to Miami given the economic turmoil in Venezuela to pursue his dream of starting a business and helping others achieve a healthier lifestyle by founding Fit2Go - the first corporate healthy meal delivery service in Miami.

Nearly 10 years later, he launched two new companies: RawBar2Go, the first licensed food boats in Florida, and The Profit Recipe, a coaching firm empowering entrepreneurs to work ON the business and not IN the business by implementing best practices and the Entrepreneurial Operating System (EOS).

With nearly 50 employees at their peak, and $3.5 million in revenue, Cesar was close to burning out. He resented the business because of the lack of time freedom that he felt.

Listen in as Cesar describes his personal journey of rediscovering the passion for his business. Hear how he bounced back by implementing transformative systems and processes; the open book approach to sharing financials with his team, and eventually selling the business to a team member.

Entrepreneur burnout happens more often than you may realize. 75% of entrepreneurs report occasional or frequent burnout.

Enjoy this Succession Stories episode on how to avoid entrepreneur burnout with Cesar Quintero.

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

Find Cesar Quintero Here:

Cesar´s Linkedin: https://linkedin.com/in/cesarquintero

Profit recipe website: https://theprofitrecipe.com/

Profit recipe FB: https://www.facebook.com/TheProfitRecipe/

Profit recipe LinkedIn: https://www.linkedin.com/company/the-profit-recipe

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CHECK OUT OUR NEW MASTERCLASS:

"Endgame Entrepreneurship: Build With The Exit In Mind"

https://thebusinesstransitionsherpa.com/course/

Learn how to maximize value and exit on your terms!

_______________________________________

Embark on a journey of understanding and practical application as we navigate ways to avoid entrepreneur burnout, unveiling the potential for growth and empowerment. Unlock deeper insights into the transformative realm of entrepreneurship and scalability by engaging with us through various social media platforms:

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Jane Hanson, a nine-time Emmy award winning correspondent. She has an amazing resume as a network co-anchor in New York, and has covered events ranging from the tragedy of 9/11 to the joy of the Yankees victory parades. She has interviewed presidents, business leaders, prisoners, and celebrities. She's currently a much sought-after communications coach working with top-tier leaders in every field while continuing to emcee, speak and host broadcasts.

Laurie and Jane discuss how leaders have tough conversations, especially when it comes to succession. At the core of everything has got to be respect. Whatever the conversation is, you need to prepare carefully. You also have to make sure that your decision is absolute, there can't be any wavering.

Also hear Jane's take on the HBO show, Succession, and how she'd advise the sibling rivals if she could.

Enjoy this Succession Stories episode on how to have tough succession conversations with Jane Hanson.

Find Jane Here: https://www.janehanson.com/

❤️ Show us the love: Submit a review for "Succession Stories" on Apple Podcasts or Spotify

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My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options"

🎙 Podcast: https://podfollow.com/succession-stories

🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa

😎 Instagram: https://www.instagram.com/lauriebarkman/

✖️ Twitter: https://twitter.com/LaurieBarkman

😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

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

https://thebusinesstransitionhandbook.com

OR text TRANSITION to +1-762-320-2826

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ONLINE MASTERCLASS COMING SOON:

"Endgame Entrepreneurship: Build With The Exit In Mind"

Join the waitlist: https://thebusinesstransitionsherpa.com/course/