This episode provides great questions to help you think about what can protect your business and create wealth. Brian Trzcinski, Director of Business Market Development with MassMutual, joins host Laurie Barkman to discuss questions business owners need to answer to enhance value and reduce risk. Like what would your business be worth today if you died 90 days ago? And why should exit planning begin the day your doors open? Head to SuccessionStories.com for the show notes and transcript to get all the questions you need to be considering. Enjoy this Succession Stories episode about soul-searching questions for exit planning with Brian Trzcinski.

Learn more about:

• The importance of having an exit plan
• Risk Pillars of Success
• The first question business owners need to answer
• How health issues can impact value
• The value of not waiting too long to plan your exit

Show Links:

MassMutual - Resources for Business Owners

SuccessionStories.com

Schedule a call with Laurie Barkman to discuss transition planning: https://thebusinesstransitionsherpa.com 

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

SHOW US THE LOVE: 

FOLLOW Succession Stories wherever you listen

WRITE a review on Apple Podcasts 

SUBSCRIBE on YouTube

When it comes to family business succession, will dysfunction prevail? Eva Fischer was the chair of the family business, Brunata, one of Scandinavia's largest clean-tech companies, and at the helm during its turnaround. Eva talks candidly with host Laurie Barkman about how the business consumed the family, and caused relationships to become dysfunctional. 

Family problems became company problems and there was a negative spiral. Eva was a dark horse in a succession process that eventually led to the sale of the 450+ employee business to a strategic buyer in Germany. Now as a family business advisor and speaker, Eva serves on the board of Family Business Network Denmark, and promotes openness about succession. 

There are better paths you can take by having strong communications, succession planning, and good governance. Enjoy this Succession Stories episode about how sibling rivalry disrupted the succession of a family business with Eva Fischer.

Show Links:

evafischer.dk

SuccessionStories.com

Learn how Laurie Barkman helps business owners build generational wealth: https://thebusinesstransitionsherpa.com 

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

SHOW US THE LOVE: 

FOLLOW Succession Stories wherever you listen

WRITE a review on Apple Podcasts 

SUBSCRIBE on YouTube

If you’re a fan of business podcasts, you might know the name John Lee Dumas (JLD), founder and host of the award-winning show, Entrepreneurs on Fire. Since launching in 2012, JLD has interviewed over 3,000 of the world’s most successful entrepreneurs. With over 100 million listens, he’s turned the show into a media empire generating 7-figures of net annual revenue.

JLD joins Succession Stories host Laurie Barkman to talk about business and personal legacy. What does it take to create a business that leaves a lasting legacy? It involves doing things today that lay the foundation. When the time comes, you will be ahead of the game- and you can do it the right way.

Enjoy this new Legacy Series of Succession Stories and why if you're looking to create a legacy, it's time to get intentional with John Lee Dumas. 

Show Links:

Entrepreneurs On Fire: www.EOFire.com

SuccessionStories.com

Learn how Laurie Barkman helps business owners build generational wealth: https://thebusinesstransitionsherpa.com 

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

SHOW US THE LOVE: 

FOLLOW Succession Stories wherever you listen

WRITE a review on Apple Podcasts 

SUBSCRIBE on YouTube

Ryan Dusick is the founding drummer of Maroon 5, one of the world’s most popular bands. In the nineties, Ryan and his high school buddies Adam Levine and Jesse Carmichael dreamed about making it big…and they did! 

Ryan joins host Laurie Barkman to talk about his book, “Harder to Breathe: A Memoir of Making Maroon 5, Losing It All, and Finding Recovery.”  

Just as his career was taking off, Ryan left the band after suffering from a breakdown on the Grammy award-winning “Songs About Jane” tour in 2005. After a decade, he pursued a path of recovery and new life full of meaning, purpose, and fulfillment. Now working as a mental health professional, Ryan is spreading the message that recovery is possible and some astounding things can come with it.

When you spend years architecting your life around a goal and suddenly it’s gone, it’s understandable that you may face an identity crisis and depression. Accepting the reinvention process enabled Ryan to let go of the past and embrace a new future.

Enjoy this special “What’s Next” Succession Stories episode about exit and recovery with Ryan Dusick.

Show notes:

• Ryan Dusick website: https://www.ryandusick.com
• Take a Personal Readiness Assessment for business transition: https://bit.ly/personal-readiness-to-exit

Learn how Strategic Business Transition Planning drives value and clarity by visiting https://thebusinesstransitionsherpa.com 

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

SHOW US THE LOVE:   RATE + FOLLOW THE SHOW

SUBSCRIBE to Succession Stories wherever you listen and YouTube

Write a review using Rate This Podcast

https://ratethispodcast.com/successionstories

When is the right time to transition your business? Bill Spohn, President and Owner of TruTech Tools, plans to retire in three years. TruTech Tools is an award-winning e-commerce reseller of tools and test instruments for HVAC and building performance professionals. He’s working on making the company less dependent on him by adding capable leaders, documenting workflows, and keeping a notebook of ideas. Bill joins host Laurie Barkman on Succession Stories for a "Legacy Series" conversation how entrepreneurs can start plan your future exit and benefit from talking about it.

Listen in to learn more about:

• Ensuring your business can thrive without you
• Hiring the right talent
• Portfolio approach to building wealth
• When to start transition planning
• Why it's good to talk about your exit intentions
• Documenting workflows and standard operating procedures (SOPs)

Guest and show notes:

• Bill Spohn LinkedIn: https://www.linkedin.com/in/billspohn/
• Building HVAC Science Podcast: www.buildinghvacscience.com
• Download a guide to better SOPs: https://bit.ly/SOPGuide

Learn how Strategic Business Transition Planning with Laurie Barkman can bring clarity to your biggest succession questions by visiting https://thebusinesstransitionsherpa.com 

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

SHOW US THE LOVE :   RATE + FOLLOW SUCCESSION STORIES

SUBSCRIBE wherever you listen and follow on YouTube

Write a review using Rate This Podcast

https://ratethispodcast.com/successionstories

What do small business owners wish they had done differently before selling? While the attention on billion dollar mergers and acquisitions, detailed information about acquisitions of smaller businesses is harder to find. Alexis Grant launched an online media platform, They Got Acquired, to help founders understand deal-making in the lower middle market. It’s valuable to think about your potential exit even if it's years away. Lexi joins host Laurie Barkman on Succession Stories to discuss how to set up your business for a successful sale regardless of its size.

Listen in to learn more about:

• Lessons from owners who have sold their businesses
• Handling the transition from entrepreneur to employee 
• How to be better prepared personally to sell
• How to increase the transferability of your business with structured systems 

Guest and show notes:

theygotacquired.com/newsletter

Succession Stories Episode 82: John Warrillow

Learn how Strategic Business Transition Planning with Laurie Barkman can bring clarity to your biggest succession questions by visiting https://thebusinesstransitionsherpa.com 

THE BUSINESS TRANSITION HANDBOOK:

To get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman go to: https://thebusinesstransitionhandbook.com or text TRANSITION to +1(762)320-2826

SHOW US THE LOVE :  RATE + FOLLOW SUCCESSION STORIES

SUBSCRIBE wherever you listen and follow on YouTube

Write a review using Rate This Podcast

Are you prepared for the emotional realities of succession planning? Regina Beatty, an advisor with the financial planning group, Heritage Financial Consultants, joins Laurie Barkman on Succession Stories to discuss how to prepare and transition a business to the next owner, while navigating the financial and emotional challenges associated with transitioning from a family-owned business.

Listen in to learn more about:

• Top concerns for business owners looking to exit
• How to minimize the tax impact of succession
• How to start a legacy plan

Guest and show notes:

• distinctivewealthstrategies.com
• [email protected]
• Regina Beatty is a Registered Representative of Lincoln Financial Advisors. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor.
• New York Times, "When Your Career, and Retirement Are The Family's Business" https://www.nytimes.com/2023/03/25/business/family-business-retirement-succession-New York Times

More business transition resources:

Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo

Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com

Follow the Succession Stories YouTube Channel

Follow Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/

If you enjoy Succession Stories, please leave a review. Reviews help us reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.

https://RateThisPodcast.com/successionstories

About Succession Stories Podcast

Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction.

Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options." 

Learn more about Laurie's strategic business transition planning and mergers and acquistions advisory services by visiting: https://thebusinesstransitionsherpa.com 

If your goal in life is to have no regrets, what are the things you need to address now to be happy about your business transition? Bruce Werner, family business advisor and author of “The Ownership Journey,” joins Laurie Barkman on Succession Stories to discuss how a board of advisors or family board can help with the growth and transition of your business. They also explore common issues owners face with life after the deal. You can make more money, but you can't make more time. 

Listen in to learn more about:

• Fiduciary boards vs. family boards

• Understanding the generational differences in ownership

• How to hire a new CEO

• The importance of succession planning

• Defining your purpose and social structure

• Advice for business owners thinking about creating a board

Show links:

• Bruce Werner email: [email protected]  LinkedIn: https://www.linkedin.com/in/brucedwerner/  Website: Brucewerner.com
• Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
• Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
• Follow the Succession Stories YouTube Channel
• DM Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/

If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.

RateThisPodcast.com/successionstories

About Succession Stories Podcast

Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options." 

Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com 

______________________________

SHOW SPONSOR: STONY HILL ADVISORS

Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.

Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.

For any business, regardless of size, innovation is an essential part of growth. We live in the age of entrepreneurs who are disrupting large companies more than the large companies are disrupting each other. Technologies like generative AI are enabling us to create value at a rapid pace. How do we explore new ideas that can drive radical value for your customer? 

Succession Stories host, Laurie Barkman, talks with Mike Stemple, the Amazon best-selling author of two books, “Million Dollar Ideator: The Surprisingly Simple Way to Quickly Create Profitable Ideas” and “Innovating Innovation: Why Corporate Innovation Struggles in the Age of the Entrepreneur.” His ideas have created millions in revenue and helped millions of people. 

Mike’s journey of creativity, curiosity, and innovation began with a life-altering event– an accident that ended one chapter of his life but opened another. He’s a successful entrepreneur who has built more than 20 companies and products including Skinit and 3M Original Wraps– those vinyl stickers you can put on tech devices like ear pods and phones.

Mike shares a unique story about Skinit that will inspire you. It’s a moving story that illustrates his belief that innovation is about solving problems for customers.

Enjoy this Succession Stories episode that just might inspire your next million dollar idea!

Listen in to learn more about:

• Rejuvenating innovation in mature companies

• A philosophical perspective on technology and innovation

• Building a business driven by innovation and problem-solving

• Have a radical love for the customer

• The 200-hour rule for shaping ideas and innovating

• Buy versus build approach to innovation

Show links:

• www.mikestemple.com
• Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
• Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
• Follow the Succession Stories YouTube Channel 

If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. 

Please click here to leave a review: RateThisPodcast.com/successionstories

About Succession Stories Podcast

Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options." 

Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com 

______________________________

SHOW SPONSOR: STONY HILL ADVISORS

Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.

Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.

The earlier you plan for life after exiting your business, the more successful your transition will be. Determine your post-exit goals and work towards a number that helps you achieve your preferred lifestyle. Anna Felix, Smart Money Strategist with StrongHold Wealth Partners, talks with host Laurie Barkman about long-term incentives that owners might consider to retain and reward key employees.

Listen in to learn more about:

• Find the number; how much do you need to live on after exiting your business

• When to find out what your business is worth

• Employee retention and golden handcuffs

• How much should an employee expect to receive

Show Links:

• Annafelix.com
• Grab a copy of "The Business Transition Handbook” for yourself at https://amzn.to/3Hqj2eo
• Download the official workbook to help you plan your transition as you read at https://thebusinesstransitionhandbook.com
• Follow the Succession Stories YouTube Channel
• Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
• Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867

If you enjoy Succession Stories, please leave a review. Reviews help me reach new listeners, grow the show and continue creating content you'll enjoy. Please click here to leave a review.

RateThisPodcast.com/successionstories

About Succession Stories Podcast

Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options." 

Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com 

______________________________

SHOW SPONSOR: STONY HILL ADVISORS

Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.

Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.