Succession Stories

What happens when an entire executive team retires at once? How do you ensure leadership continuity, preserve company culture, and protect long-term value? In this episode of Succession Stories, host Laurie Barkman sits down with Mark L. Vincent, founder of Design Group International and expert in process consulting and leadership transitions. Together, they explore how leaders can build organizations that thrive beyond their tenure — not just structurally, but emotionally and culturally. Mark shares insights from his own journey leading a firm through succession planning after personal loss, and later transitioning out of his own role. He reveals the critical importance of emotional intelligence, peer-based advising, and intentional development of future leaders. This conversation is essential for entrepreneurs, executives, and advisors who want to ensure their business doesn't just survive — it continues to grow and reflect its original values long after the current leaders move on.

“There's going to be times where people are going to doubt you and they might be envious of your success, but I think if you're tenacious and you believe in yourself, that'll get you a long way.” - Taylor Abbett Host Laurie Barkman interviews Taylor Abbett, Co-Founder of JARVIS XR and President of Tailored Marketing Inc. They explore key aspects of entrepreneurial growth, specifically the importance of tenacity and decision-making in facing industry challenges. Taylor shares insights from his career in marketing, detailing the impact of AI on the industry and the shift towards project-based work. He also narrates his entrepreneurial journey, from his upbringing in Pittsburgh to founding his own company, providing valuable advice for aspiring entrepreneurs. The discussion also touches on balancing professional ambitions with personal interests, including future aspirations and hobbies.   Takeaways: Remind entrepreneurs that obstacles are part of the journey and staying tenacious will help them overcome hurdles. Adaptability is important. Be open to pivoting strategies when necessary while maintaining a commitment to the end goal. Encourage viewing failures as learning opportunities that contribute to growth and development. Highlight stories or examples where persistence has led to success, reinforcing the idea that persistence is crucial in entrepreneurship.   Links: LinkedIn: https://www.linkedin.com/in/taylor-abbett-7128ab1/  Website: https://tailoredmarketing.com/   

What makes your business memorable? What sets it apart—not just in the marketplace, but in the minds of customers, employees, investors, and potential buyers? Laurie Barkman sits down with Paul Furiga, founder and chief storyteller at Word Write Agency and author of Finding Your Capital S Story. Together, they explore how storytelling isn't just entertainment—it's a strategic tool that can elevate your brand, increase your company's value, and create lasting impact. This special episode marks the 5-year anniversary of Succession Stories - launched in 2020 -  during the height of the pandemic. Paul shares how stories are hardwired into our brains and how a powerful “Capital S Story” can define why someone would buy from you, work with you, invest in you, or partner with you—especially during times of transition like succession planning or selling your business. This conversation is essential for founders, entrepreneurs, and business advisors who want to move beyond transactional storytelling and craft a narrative that truly resonates.

“As one takes the journey, you start to make decisions that when collected become the components that are foundational to being an entrepreneur.” - Charlie Buscarino Host Laurie Barkman interviews Charlie Buscarino, the Founder and CEO of The Clarient Group. Charlie shares his path from construction to entrepreneurship. They discuss the innovations in smart building technology and the importance of creativity and problem-solving in uncharted territory. Charlie also reflects on his career, emphasizing the significance of networking and maintaining a work-life balance, while sharing insights from his personal life and family experiences.   Takeaways: Build a strong network, meet people, and seek diverse viewpoints to broaden your understanding and opportunities. Focus on improving client experiences and meeting their business objectives, such as reducing costs or enhancing operational efficiency. Prioritize self-discovery and personal growth alongside professional ambitions. Explore new interests and activities that contribute to your overall development and well-being.   Links: LinkedIn: https://www.linkedin.com/in/charlesbuscarino/  Website: https://theclarientgroup.com/   

“Every entrepreneur sees that in trial, there's treasure.” - Dean Minuto Host Laurie Barkman interviews Dean Minuto, President of YESCALATE. Dean shares his insights on entrepreneurship and the development of crucial skills necessary for success. The discussion emphasizes the importance of asking the right questions to learn in business and Dean elaborates on building muscle in entrepreneurship through learning and community. He also shares personal experiences that shaped his entrepreneurial journey, advocating for transformational relationships in business and life.   Takeaways: Frequently ask important questions like "What works?", "Why does it work?", and "How can I apply it to my situation?" to guide your learning and actions. Emphasize the importance of being curious and having a test-and-learn mindset. This involves continuously seeking knowledge, adapting, and improving.  Treat necessary skills like selling, presenting, or cold-calling as muscles that need regular exercise. Dedicate time to practice and improve these skills consistently. Constantly work on self-improvement, whether it's through reading, attending workshops, or other educational opportunities. Personal growth often translates to business growth.   Links: LinkedIn: https://www.linkedin.com/in/deanminuto/  Website: https://yescalate.com/about/  Book Link: https://www.amazon.com/One-Page-Sales-Coach-New-Revised/dp/1475174349/ref=asc_df_1475174349/  

“I always knew I wanted to do something where I was the person deciding my own destiny, but it's not for everyone.” - Susan Quinn Host Laurie Barkman welcomes Susan Quinn, CEO and President of Circle S Studio. The conversation first explores whether entrepreneurial traits are inherited or nurtured. Susan shares her family's history of business ownership, her journey to founding her own consulting firm, and the values that drive her company's culture. The episode also covers the challenges entrepreneurs face today, the future impact of AI on the industry, and personal anecdotes about Susan's origin story and passions outside of work. This engaging discussion provides insights on leadership and maintaining a positive outlook amidst challenges.   Takeaways: Hire skilled individuals and trust them with responsibilities. Delegating tasks empowers your team and allows you to focus on strategic aspects of the business. Stay curious and continuously seek knowledge. Engage with emerging technologies like AI to boost productivity and innovation. View challenges as opportunities for growth. Maintain a positive approach to problem-solving and encourage your team to do the same. Explore and integrate AI tools to streamline tasks and enhance efficiency. Use technology to free up time for more strategic and creative work.   Links: LinkedIn: https://www.linkedin.com/in/susanquinn01/  Website: https://circlesstudio.com/  Susan's Podcast: https://circlesstudio.com/insights/podcast/   

What does it take to build stronger teams and more effective leaders? For Ken Bogard and Grace Gavin, it begins with a commitment to honesty. Laurie Barkman sits down with Ken and Grace—co-founders of Know Honesty and authors of the new book by the same name—for a compelling conversation about the role of open communication in business success. Dedicated to enhancing professional lives and simplifying leadership, Ken and Grace are leading a transformative movement that empowers individuals and organizations to close communication gaps, foster collaboration, and achieve meaningful goals.

“You don't want to be in the role of telling people what to do, but it's encouraging people to do what you think is right, but also being open to learn from them.” - Bill Spohn In this episode of The Entrepreneur Gene, host Laurie Barkman welcomes Bill Spohn, President and CEO of Tru Tech Tools, to discuss the characteristics of the entrepreneurial mindset, the intersection of engineering and entrepreneurship, and his career journey. Bill shares his family's legacy of risk-taking, talks about the challenges he faces as a business owner, and provides advice for other entrepreneurs. He also discusses his passion for sustainability through the construction of his eco-friendly home and his involvement in the HVAC industry.    Takeaways: Leaders should frequently communicate their vision and goals. Repeating key messages helps ensure everyone understands and aligns with the mission. Reinforce core values and objectives regularly in meetings and newsletters. Connect with other CEOs and entrepreneurs to share experiences and solutions. Maintain a network of peers for regular discussions and support, as it's essential to normalize and tackle common challenges. Highlighting and rewarding team members' adherence to core values can foster a positive and cohesive company culture. Use real-life examples to illustrate these values in action to make them more relatable and tangible. Stay engaged with the latest trends and educate your customers and team on new techniques and processes. For example, using podcasting and presentations to disseminate knowledge and build authority in your industry.   Links: Facebook: https://www.facebook.com/groups/254934411710666/  LinkedIn: https://www.linkedin.com/in/billspohn/  Website: https://trutechtools.com/  Podcast: https://www.buildinghvacscience.com/   

Do you have the conviction to pursue your big idea? In this episode of The Entrepreneur Gene, host Laurie Barkman interviews Pallavi Golla, a serial entrepreneur and professional EOS implementer at EOS Worldwide. They discuss the concept of the entrepreneurial gene, the importance of nurturing entrepreneurial skills, and overcoming challenges in business. Pallavi shares her journey of building and selling two businesses and provides advice for aspiring entrepreneurs. The conversation also touches on the marshmallow test, balancing work and family, and the evolving landscape of the consulting industry.   Takeaways: Foster essential skills such as delayed gratification, perseverance, grit, and the ability to handle failure. These are crucial for navigating the entrepreneurial journey. Build an environment that encourages ideas and input from your team. Make sure that team members feel their opinions are valued and considered in decision-making processes.  Leverage the experiences and lessons from both successes and failures. Use these insights to guide future decisions and strategies. Strive to separate work stress from family life to maintain a healthy dynamic at home and avoid burnout. Quote of the Show: “Be okay with failure. The ability to hear no many, many, many times and still have the conviction to pursue an idea that you have is important.” - Pallavi Golla Links: LinkedIn: https://www.linkedin.com/in/pallavip19/  Website: https://www.eosworldwide.com/   

In this episode of The Entrepreneur Gene, host Laurie Barkman sits down with Nick Hutchison, CEO and Founder of BookThinkers. They discuss Nick's entrepreneurial journey, how books changed his life, and his rebellious nature that drove him to create successful businesses. Nick shares key decisions and challenges in scaling BookThinkers, emphasizing the importance of systems and strategic growth. The conversation also touches upon personal anecdotes, Nick's passion for endurance sports, and his excitement about becoming a father. Listeners gain insights into leveraging books for personal growth and the importance of creating structured business systems.   Takeaways: Delve into books that other successful entrepreneurs recommend to gain knowledge and different perspectives. Consider books like "Rich Dad, Poor Dad" by Robert Kiyosaki, "The E-Myth Revisited" by Michael Gerber, and "Traction" by Gino Wickman. Focus on making small, incremental improvements over time. Break your long-term goals into manageable quarters or small steps progress steadily. Invest in systematizing your business processes. Standard operating procedures (SOPs) and centralized systems can help scale operations efficiently. Consider hiring consultants or coaches who can provide expertise in specific areas, such as backend infrastructure, to streamline your business operations. Ensure your team is aligned with the new systems and processes. Change management is critical, and getting buy-in from your team is essential. Networking is powerful. Engage with people, attend events, and build relationships that can support your business growth.   Quote of the Show: “I genuinely believe at my core and in my bones that the right book at the right time can permanently change somebody's life.” - Nick Hutchison Links: Instagram: https://www.instagram.com/bookthinkers/  LinkedIn: https://www.linkedin.com/in/bookthinkers/  Website: https://bookthinkers.com/   

Is your “Fourth Quarter” of life filled with purpose—or just pressure? Executive coach Scott Couchenour helps leaders over 50 design a future they won't regret. In this episode of Succession Stories, host Laurie Barkman talks with Scott about his journey from burnout to breakthrough, and how he now guides others through mid-life reinvention with intention and clarity. Perfect for business owners and executives navigating succession or personal transition, this conversation will inspire you to turn uncertainty into opportunity.

Welcome to our new sub-show on Succession Stories...The Entrepreneur Gene! In this 1st episode, Host Laurie Barkman interviews David Newman, entrepreneur, author, and sales and marketing expert. David shares his insight into the idea of an entrepreneurial gene, discussing key traits such as being a maverick and a risk-taker. He reflects on his journey from a struggling entrepreneur to a successful mentor, emphasizing the importance of alignment and avoiding distractions in business. David also explores the impact of AI on consulting and shares personal insights and advice for future entrepreneurs. The episode ends with discussing David's passion for retro video games and resources listeners can access for further learning!   Takeaways: Understanding that entrepreneurship often stems from an inherent drive to be mavericks, mavens, and rebels, leaders should recognize and nurture these qualities within themselves. Entrepreneurs often struggle with distractions from multiple ventures. Focusing on how to align efforts under one coherent strategy or "roof" can prevent spreading oneself too thin. Instead of starting entirely new ventures, which David calls hot dog stands, focus on improving and innovating within the current business structure to scale and grow. Embrace technological advancements like AI to improve efficiency but ensure the added value is applied in a human-centric manner. Find mentors, join masterminds, and accept help from peers and successful entrepreneurs early in the journey to accelerate learning and avoid common pitfalls. Before investing heavily in new business ideas (like building logos or websites), sell the concept first to ensure there is market demand. Being part of a community or network can provide support, opportunities for learning, and potential collaborations. Quote of the Show: “The mavericks, the mavens, the rebels, those kinds of people, if that's in their DNA, then they're truly cut out for entrepreneurial success.” - David Newman Links: LinkedIn: https://www.linkedin.com/in/davidjnewman/ Website: https://doitmarketing.com/  

Cheers to 5 years of Succession Stories! On our anniversary, we are excited to introduce our new feature series, The Entrepreneur Gene! A bonus for Succession Stories Podcast listeners! Listen weekly as show host Laurie Barkman talks with founders and CEOs exploring the rewards and challenges of the entrepreneurial path. Be sure to subscribe so you don't miss an episode!   This Show is Sponsored by The Business Transition Sherpa® Get your business unstuck so you can grow, scale, and exit while enjoying the journey. ✨

Ghislain Gouraige, Partner at NewEdge Wealth, helps ultra-high-net-worth families and entrepreneurs navigate business transitions. Ghislain joins host Laurie Barkman to recap the firm's 2025 Onward Conference held at Carnegie Mellon University and valuable insights to help you prepare before a sale: Success factors to prepare personally and financially How to maximize business value Understanding M&A market trends and roll-up strategies Identifying target companies Characteristics that make industries attractive to consolidators Dive in for insights to preserve wealth, achieve your transition goals, and build a lasting legacy. ____________________________________  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? Learn what every entrepreneur needs to know about making your business more scalable and sellable! ✨

What happens when a successful entrepreneur faces his own turning point? In this episode, Laurie Barkman sits down with Jon Goldman, CEO of Turning Point, to discuss his journey from co-owning the innovative promotional products company Lumpy Mail to navigating his own business succession. Jon shares insights on guiding leaders toward discovering their life purpose, aligning personal and company values, and upgrading professional and emotional habits. Tune in for a conversation about transformation, leadership, and building a meaningful legacy. ____________________________________  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? Learn what every entrepreneur needs to know about making your business more scalable and sellable! ✨

Employee Stock Ownership Plans (ESOPs) are one of the best-kept secrets in business succession planning. In this episode, Laurie Barkman sits down with Dan Zugell, Senior Vice President at Business Transition Advisors and a nationally recognized expert in ESOPs, to explore how these plans create financial value, enhance employee engagement, and offer unique transition options for business owners. Dan shares insights on the financial benefits of ESOPs—like tax advantages and wealth creation—as well as the often-overlooked social impact of employee ownership, including reduced turnover and stronger workplace culture. He also debunks common misconceptions, such as the idea that ESOPs require 100% ownership transfer or that they lack exit opportunities. If you're a business owner considering succession strategies, or simply curious about how ESOPs can transform a company's future, this episode is for you!

Is your business truly valuable—or just another job you've created for yourself? In this episode of Succession Stories, Laurie Barkman speaks with Justin Goodbread, award-winning exit planner, best-selling author, and serial entrepreneur who has built and sold six businesses. Justin shares how he doubled the value of his financial services firm in just 18 months, the key to making your business a transferable asset, and why your business isn't your baby—unless it's an ugly one. Tune in for actionable insights on scaling, selling, and finding joy beyond the exit. ____________________________________  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? Learn what every entrepreneur needs to know about making your business more scalable and sellable! ✨

Join Matthew Powell, CEO of Century Companies and a fourth-generation family business leader, along with host Laurie Barkman, as they explore the art of building sustainable, multi-generational enterprises. In a world of short-term exits, Matthew champions a different path—creating lasting value for stakeholders by thinking in centuries, not just years. Through insightful conversations with industry leaders, entrepreneurs, and experts, Built to Last dives into the challenges and triumphs of family businesses, leadership transitions, and fostering a culture of stewardship. Whether you're leading a family enterprise or simply fascinated by legacy-driven leadership, this podcast offers actionable strategies to help businesses flourish for generations to come.  

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   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.    Join the entrepreneur community at https://thebusinesstransitionsherpa.com/ _______________________________________

2024 year-end solocast! Laurie Barkman shares reflections and gratitude for family, friends, and the growing community of entrepreneurs building value with the end game in mind. 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 Get free digital copy of Business Transition Handbook at btsherpa.com/book   Book a 30-minute strategy call at timewithlaurie.com   Email contact@btsherpa.com with guest recommendations. ____________________________________  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.  ✨

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 _______________________________________

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

Laurie Barkman interviews Albert Cuiksza 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/   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.    Join the entrepreneur community at https://thebusinesstransitionsherpa.com/ _______________________________________

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/   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. 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/ _______________________________________ 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 _______________________________________

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 _______________________________________

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   ❤️ 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.  Book a call to learn more: https://thebusinesstransitionsherpa.com/course/ _______________________________________

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? _______________________________________ 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 _______________________________________

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 _______________________________________ 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:

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: How building a business aligned with your passions can lead to greater fulfillment and success; How surrounding yourself with skilled individuals who share your vision can help you make better decisions; The importance of developing a scalable business model that can grow beyond your individual efforts; Why you should have an exit strategy in place, even before you find the right buyer; 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 _______________________________________ 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:

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:

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:

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:

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:

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: Complete a comprehensive business assessment to identify operational gaps and formulate a robust transition plan. Approach projects from the perspective of a potential buyer to enhance the business's appeal in the market. Create a clear CEO job description to recognize dependencies and optimize the business's value. Conduct thorough due diligence on potential partners to ensure a seamless and beneficial transaction. 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:

Host Laurie Barkman, The Business Transition Sherpa, talks with Jon Eesley, founder of Windsor Advisory Group. With over 27 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:

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 _______________________________________ ENDGAME ENTREPRENEURSHIP MASTERCLASS LEARN HOW TO MAXIMIZE VALUE AND EXIT ON YOUR TERMS: https://thebusinesstransitionsherpa.com/course/ _______________________________________

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, "Gridiron," 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, "Gridiron" In This Episode [00:00] Reid's journey into franchise ownership and initial challenges in the fitness industry. [01:57] Entrepreneurial Business Ownership. [03:22] Reid's experience in acquiring an industrial cleaning company [05:00] Employee Engagement and Business Ownership. [09:06] Exit Strategy and Employee Ownership. [14:45] Seller's Perspective and Business Transition. [15:24] Promotion of the book "The Business Transition Handbook" [16:42] Eye for Opportunities. [17:35] Becoming the Best Fit Buyer. [19:22] Seller regrets one year after the sale [20:29] Factors Affecting Seller Satisfaction. [30:45] The phenomenon of value surprise [33:51] Achieving Satisfaction as a Seller. [34:46] Book Release - "Gridiron". [34:51] The American Dream. [35:42] Relationships in Business Ownership. [36:42] Considerations for Small Business Ownership. [37:21] Key takeaways. Notable Quotes   [10:14] "The money is nice, but what's really going to give you fulfillment is going to be based on the people that you help along the way, and most of those people are going to be your team members."-Reid   [11:57] "I always thought about it as selling to a strategic or doing an ESOP, and those were the two options that I thought about, and I definitely have some regrets about not doing the ESOP."-Reid   [14:39] "I still kind of wonder, was it the right move? Everyone's happy, it was a big victory for me and great for the team and the company, but I still ponder if it was the right decision."-Reid   [23:17] "I was surprised how good of a culture I had built in the business and how quickly the new buyer was able to methodically destroy it." -Laurie   [34:51] "The freedom and autonomy that can come from small business ownership are absolutely fantastic." -Reid   [35:42] "Some of my best relationships in life are with the employees that I've had, so you're going to meet some fun people along the process." -Reid   [37:41] "If you're not all in, you're in the way. This is not a halfway in, halfway out type of endeavor." -Reid Guest Bio Reid Tileston, an esteemed Adjunct Professor at Case Western Reserve University, is a seasoned entrepreneur with a remarkable 16-year journey of acquiring, growing, and successfully selling four companies. As a pioneering co-creator of the Entrepreneurship Through Acquisition curriculum at the University of Chicago Booth School of Business, Reid is dedicated to shaping the next generation of entrepreneurial leaders. His expertise is sought after not only in academia but also in advisory roles, where he shares strategic insights obtained from his diverse experiences. With a track record of achieving extraordinary returns on investment and excelling as an Anytime Fitness franchisee, Reid's impact resonates far and wide. Currently pursuing doctoral research at Case Western, he dives into the complexities of Entrepreneurship Through Acquisition, further solidifying his position as a thought leader in the field. Beyond his professional pursuits, Reid's adventurous spirit as an Eagle Scout and Ironman triathlete underscores his passion for relentless exploration and innovation.   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: "Get 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 _______________________________________ 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: successionstoriespodcast@gmail.com   Leave Voice Message on Speakpipe: https://www.speakpipe.com/LaurieBarkman   ❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories ________________________________________ 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 ________________________________________ 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 _______________________________________ 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/ _______________________________________ Unlock deeper insights into entrepreneurship and scalability by engaging with us through various social media platforms: My Links:

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:

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:

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:

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 _______________________________________ 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:

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 _______________________________________ My Links:

Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes David Newman, author of the business bestseller "Do It! Marketing" and his new book, "Do It! Selling." He's the founder of the Do It! MBA mentoring program and the host of The Selling Show, a top-rated business podcast.  Laurie and David discuss his take on how business owners can avoid a common succession pitfall related to sales. It's called the “Rainmakers Dilemma” and happens when the owner of the business drives the sales process and most of the revenue.  The risk is that if the owner isn't there, the business is likely to flatline or decline. To dive deeper on this topic, we've also included a link to an ebook about the Rainmakers Dilemma and what to do about it in the show notes as an additional resource for you.  Enjoy this Succession Stories episode about avoiding sales succession pitfalls with David Newman.   Show links: Download the Rainmakers Dilemma ebook: https://bit.ly/rainmakers_dilemma Find David Newman here: https://doitmarketing.com   ❤️ Show us the love:  Submit a review for "Succession Stories" on Apple Podcasts or Spotify _______________________________________ My Links:

Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Matt DiFrancesco, Principal of HighLift Financial, and host of the "Your Business, Your Life" podcast.  Laurie and Matt discuss navigating complex family dynamics for business succession planning. How to have difficult conversations with family members, especially children, about their roles in the business and potential ownership succession. Family legacy and continuity planning are essential parts of the conversation as well as common challenges for succession planning in family businesses including timing of decisions. Enjoy this Succession Stories episode on navigating family business succession planning with Matt DiFrancesco. Find Matt DiFrancesco here: highliftfinancial.com Listen in to learn more about: Business Exit Timeframe Navigating Family Dynamics Creating a Family Legacy   ❤️ Show us the love:  Submit a review for "Succession Stories" on Apple Podcasts or Spotify _______________________________________ My Links:

Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Ross Brannon, Tax Shelter and Private Equity Consultant at CoastalOne. Ross joined Laurie for a conversation about tax strategies business owners should consider when selling a business. Listen in to learn more about tax deferral and tax mitigation strategies including opportunity zones, installment sales, and diversified investment structures. Don't wait until you're in a transaction to learn about tax mitigation strategies. It's called financial planning for a reason. You need time to plan. They also discuss the importance of planning for life after selling your business and why Ross doesn't believe in the notion of retirement. Find purpose and impact in the next chapter of your life. Enjoy this Succession Stories episode about tax strategies to consider when selling your business with Ross Brannon. Find Ross here: https://rossbrannon.com/ Listen in to learn more about: Navigating Tax Complexities Strategic Exit Planning Diversified Financial Approaches Avoiding Retirement and Staying Engaged   ❤️ Show us the love:  Submit a review for "Succession Stories" on Apple Podcasts or Spotify _______________________________________ My Links: