In this episode of The Lazy CEO Podcast, host Jim Schleckser discusses the topic of liquidity events and business transitions with expert Laurie Barkman from the Business Transition Sherpa. Laurie shares her personal experience going through an M&A process as a CEO and highlights the challenges, emotions, and decision-making involved in such transitions.
Laurie emphasizes the importance of getting good advice during a business transition, considering it as potentially the largest financial transaction of one’s life. She mentions her own involvement in numerous transactions and encourages entrepreneurs to seek guidance to navigate the complexities successfully.
The conversation delves into when entrepreneurs should start thinking about a transition. Laurie distinguishes between age and life stage, pointing out that age alone is not the sole factor. She stresses the need to consider external factors like health, family status, and partner issues, which can impact the value of the business and the transition process.
In this Episode about Business Transitions and Liquidity Events
- Liquidity Events and Business Transitions: The Lazy CEO Podcast explores the intricacies of liquidity events and business transitions with expert Laurie Barkman from the Business Transition Sherpa. Laurie draws from her own experience in M&A as a CEO, highlighting the challenges, emotions, and decision-making involved in such processes.
- Importance of Expert Guidance: Laurie emphasizes the significance of seeking expert advice during business transitions, considering it as potentially the largest financial transaction in an entrepreneur’s life. She encourages entrepreneurs to recognize the complexities involved and to enlist experienced guidance to navigate successfully through the challenges.
- Timing and Comprehensive Planning: The discussion touches on the timing of transition planning, emphasizing the need to consider both age and life stage. Laurie suggests that entrepreneurs should start planning as early as possible and address the multifaceted aspects of transition planning, including contingency planning, growth planning, and succession planning. The case of a valuable company contemplating succession to the next generation illustrates the complexity of assessing capability, interest, ownership mindset, and financial factors.
About Our Guest
Laurie Barkman, The Business Transition Sherpa(TM), is the former CEO of a $100 million revenue company that was sold to a Fortune 50.
As a Business Transition and M&A Intermediary, Laurie advises owners on how to create more valuable businesses and find the right buyer when it’s time to let go.
Her expertise in business transition, succession, entrepreneurship, value growth, and M&A has been spotlighted in various media like Newsweek, Forbes, Yahoo! Finance, WTAE/abc and more.
