78. Guiding Businesses From Transition to Transaction with Laurie Barkman

Your Business Your Life

For anyone who owns a business, the process of passing down a company from one owner to the next can be quite challenging.

Without proper guidance and careful planning, it can be difficult to know where to start when considering how best to transition ownership and ensure profitable continuity for yourself and future owners.

Furthermore, understanding the pitfalls of succession planning and developing clear exit options before any transactions occur is essential in creating positive long-term outcomes for all parties involved.

Join Matt DiFrancesco and Laurie Barkman, The Business Transition Sherpa, Author, and M&A Advisor, as they talk about how entrepreneurs can approach transitioning their businesses from transactional model efforts to more strategic initiatives —and what measures need to be taken to avoid common missteps along the way.

They talk about:

(02:46) The story behind the name “Business Transition Sherpa”

(03:51) What prompted Laurie to write the Business Transition Handbook

(10:31) Why businesses that are very dependent on the owner will not create much value

(11:56) What is a strategic readiness plan and why is it important?

(15:49) The best time to start planning for business transition

(19:58) A good place to start when transitioning your business

(22:52) Why is hiring a Transition or Exit Planning Specialist important?

Connect with Laurie Barkman

Website: https://thebusinesstransitionsherpa.com

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

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

Connect With Matt DiFrancesco:

[e-mail]

[phone]

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial

Instagram: @high_lift_financial

Youtube: @highliftfinancial

About Our Guest:

Laurie Barkman, the business transition sherpa, is the former CEO of a $100 million revenue company that was sold to a Fortune 50. As a mergers and acquisitions expert, Laurie offers business owners a systematic method for organizing smooth transitions inside their organizations.

Laurie is the author of The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options, guiding business owners on their journey from transition to transaction, from creating value to letting go.

She is an adjunct professor of entrepreneurship at Carnegie Mellon University and hosts the award-winning podcast Succession Stories, where she speaks with hundreds of entrepreneurs who have shared their journeys through succession.

Laurie earned her MBA from Carnegie Mellon University and a Bachelor of Science degree from Cornell University. She received certifications from The Alliance of Mergers & Acquisitions Advisors, The Exit Planning Institute, and The Value Builder System.

Laurie currently lives in Pittsburgh with her husband and two kids.

DISCLAIMER: The content posted here solely represents the opinions and views of the guest and may not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.