How to Build a Business Transition Plan with Laurie Barkman » Succeed As Your Own Boss

How to Create a Business Transition Plan with Social Image by Laurie Barkman

Laurie Barkman is the founder and CEO of SmallDotBig LLCa strategic advisory firm for business owners to maximize the value of their business in anticipation of a future ownership transition. In addition, he is a partner at Stony Hill Advisors, an M&A firm that represents companies on the buy or sell side of transactions. In her 25+ year career, Laurie has created value through digital transformation at companies ranging from large enterprises to startups, including American Eagle Outfitters, Ingersoll-Rand, Topanga Partners, MediaSite, JazzHR, Burns White and The Art Institutes. As host of the Succession Stories Podcast, Laurie curates conversations with next generation entrepreneurs. You can find his show wherever you listen to podcasts.

Laurie has joined me to discuss the idea of ​​business acquisitions from both the seller’s and the buyer’s perspective. He tells us how you can identify risks in your business that potential buyers can see and how emotions can affect the ability to sell your business. He talks about the importance of not making your business revolve around you but building it so that it can exist independently, and the nuance between being an owner and owning a business. We also discuss ways you can build an attractive business from the ground up, grow organically versus growing through acquisitions, and the information and factors to get an accurate estimate of your business value. For more information, visit the link below to Laurie’s podcast, Succession Stories.

“If you want to build a business that will one day thrive without you, then set the course now.” – Laurie Barkman

Listen to the podcast below:

Business Transition Plan with Quote Image by Laurie Barkman

This week on the SmallBizChat podcast:

  • Why are some companies seemingly unsellable?
  • Where are the risks in your business?
  • How to prepare for a business transition
  • The best way to transform your business to your family or children
  • How to keep emotion out of the sales process
  • Find out what your business is worth
  • Strategies to increase the value of your business
  • Common mistakes in mergers and acquisitions

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