The SmallBizChat Podcast: How to Build a Business Transition Plan with Laurie Barkman

Laurie Barkman is the founder and CEO of?SmallDotBig LLC , a strategy advisory firm for business owners to maximize the value of their company anticipating a future ownership transition.?Additionally, she is a Partner with Stony Hill Advisors, an M&A firm representing companies on the buy-side or sell-side of transactions.?During 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 her 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 perspectives. She tells us how you can identify the risks in your business that potential buyers might see and how emotions can impact the ability to sell your business. She talks about the importance of not having your business revolve around yourself but building it in such a way that it can exist independently, and the nuance between being a business owner and owning a business. We also touch on ways in which you can build an attractive business from the start, growing organically vs growing through acquisitions, and the information and factors behind getting an accurate value estimation for your business. For more information, visit the link below to Laurie’s podcast, “Succession Stories”.

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

Listen to the podcast below:

This week on SmallBizChat Podcast:

• Why are some businesses seemingly unsellable?
• Where are the risks in your business?
• How to prepare for a business transition
• The best way to transition your business to your family or children
• How to keep emotion out of the selling process
• Figuring out what your business is worth
• Strategies for growing value in your business
• Common pitfalls of mergers and acquisitions

Relevant Resources:

• Succession Stories Podcast on Smalldotbig.com

Connect with Molly Gimmel

• SmallDotBig Website
• Laurie Barkman on Linkedin
• Laurie Barkman on YouTube
• Laurie Barkman on Twitter
• SmallDotBig Facebook page

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Want to learn more about how to become your own boss and succeed as a small business? Check out my blog and podcast over at SucceedAsYourOwnBoss.com