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Running the business with the end in mind improves its future saleability and also enhances how the business operates today.
Laurie Barkman, is the CEO of The Business Transition Sherpa, adjunct professor of entrepreneurship, and podcast host. She is the former CEO of a $100 million revenue company that was sold to a Fortune 50. Her expertise in business transition, succession, entrepreneurship, marketing, and M&A has been spotlighted in various media like Newsweek, Forbes, Yahoo! Finance, WTAE/abc, and more.
After going through an acquisition herself, she recognized the importance of helping business owners with succession planning and building value proactively. Many business owners don’t consider exit planning early enough and that is a crucial step not only for later-stage companies. The usual scenario is selling when the company is in bad shape is the worst option. Lori offers examples of how business owners can make their business more attractive to buyers and some might be weird to most owners. But the process of preparing your business for sale allows you to leave on your terms, ensuring your legacy continues while you reap the rewards of your hard work.
Show notes:
👠 Laurie's career transition led her to doing transition work with business owners. 2:21
👩🏻💼 As a marketing leader for 25+ years, Laurie focused on three pillars: growth, innovation, and transition. 4:18
💲 When should you sell your business? Having a perspective of where you're headed. 7:07
⏰ Timing is everything: Ensure your business is ready to sell at any time. 13:05
⚠️ A business that's too dependent on its owner can't successfully transition to another owner. 17:43
🤓 Make your business an asset: the power of clear identification, documentation, and systems in place. 20:32
🎯 Transition planning: personal readiness, business assessment, and a financial perspective. 23:26
👉🏻 The differences between exit, contingency, and succession. 25:39
🍼 People create their identity around their business: "My business is my baby." 30:11
👠 Laurie's career transition led her to doing transition work with business owners. 2:21
👩🏻💼 As a marketing leader for 25+ years, Laurie focused on three pillars: growth, innovation, and transition. 4:18
💲 When should you sell your business? Having a perspective of where you're headed. 7:07
⏰ Timing is everything: Ensure your business is ready to sell at any time. 13:05
⚠️ A business that's too dependent on its owner can't successfully transition to another owner. 17:43
🤓 Make your business an asset: the power of clear identification, documentation, and systems in place. 20:32
🎯 Transition planning: personal readiness, business assessment, and a financial perspective. 23:26
👉🏻 The differences between exit, contingency, and succession. 25:39
🍼 People create their identity around their business: "My business is my baby." 30:11
Links:
Website: www.thebusinesstransitionsherpa.com
Free Book: "The Business Transition Handbook” https://bit.ly/business-transition-book
Masterclass - get 10% discount at checkout with code: happy10
Retreats: www.jenniferdawncoaching.com/our-retreat
Join our Academy: www.jenniferdawnacademy.com
Creators & Guests
Host
Jennifer Dawn
I transform businesses and empower leaders to achieve extraordinary results. My passion lies in guiding high-impact leaders to unlock their full potential, driving significant profitability increases and operational efficiency gains. With a proven track record of success across diverse industries, I excel at: ** Leading Transformation: ** I've spearheaded transformative change initiatives, optimizing resources, and fostering innovation to propel companies to new heights of success. ** Coaching for Impact: ** I empower high-impact leaders through personalized coaching, helping them maximize revenues, optimize operations, foster team development, and scale their businesses. ** Strategic Execution: ** I translate vision into reality, executing strategic initiatives with precision to achieve impactful business goals. ** Building Trust & Success: ** I build strong client relationships, collaborating and driving continuous improvement for long-term client success. Ready to unlock your true potential? Connect with me to discuss how I can help you achieve your business goals.
What is Happy Productive with Jennifer Dawn: Where Business Success Meets Personal Fulfillment ?
Happy Productive with Jennifer Dawn
Welcome to the Happy Productive Podcast, where business transformation meets personal fulfillment. Hosted by Jennifer Dawn, Business Coach and founder of Jennifer Dawn Coaching, this podcast delivers actionable insights and heartfelt guidance to elevate your productivity, align your goals, and enhance your time management skills - all while keeping joy at the forefront.
With 30 years of entrepreneurial expertise and her unique Inside Out Results Roadmap™, Jennifer offers a blend of practical advice and genuine support to help you break free from the grind and create a sustainable, thriving business. Each episode is designed to empower you and your team with resilience, authenticity, and a positive mindset.
Join us and discover how to transform your business and your life, one episode at a time. Learn more at www.JenniferDawnCoaching.com