Laurie Barkman joins Melinda Emerson, SmallBizLady, to discuss the idea of business acquisitions from both the seller’s and the buyer’s perspectives. Laurie 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.
“If you want to build a business that one day will thrive without you, then you will set the course now.” – Laurie Barkman
Topics covered on this 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
Melinda F. Emerson, SmallBizLady, is America’s #1 Small Business Expert. She has been a thriving entrepreneur for nearly 20 years and is an internationally known keynote speaker and expert on small business development and social media marketing. She publishes a resource blog www.succeedasyourownboss.com. Her small business advice is widely read reaching more than 3 million entrepreneurs each week online. A pioneer in social media marketing, she is the creator and host of #Smallbizchat, the longest running live chat on Twitter for small business owners. Forbes magazine named her the #1 woman for entrepreneurs to follow on Twitter.