147: How to Talk with Family about Business Ownership Succession, Matt DiFrancesco

147: How to Talk with Family about Business Ownership Succession, Matt DiFrancesco

January 31, 20241 min read

Succession Stories host Laurie Barkman, The Business Transition Sherpa®, welcomes Matt DiFrancesco, Principal of HighLift Financial, and host of the “Your Business, Your Life” podcast. 

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Laurie and Matt discuss navigating complex family dynamics for business succession planning. How to have difficult conversations with family members, especially children, about their roles in the business and potential ownership succession. Family legacy and continuity planning are essential parts of the conversation as well as common challenges for succession planning in family businesses including timing of decisions.

Enjoy this Succession Stories episode on navigating family business succession planning with Matt DiFrancesco.



Find Matt DiFrancesco here: highliftfinancial.com

Listen in to learn more about:

  • Business Exit Timeframe

  • Navigating Family Dynamics

  • Creating a Family Legacy

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Laurie Barkman

Laurie Barkman, The Business Transition Sherpa, emphasizes the importance of planning for the exit of a business, citing that only 20% of companies in the lower middle market have an intention to sell. She highlights the need for an ownership succession plan, estimating the value of the business, addressing risk tripwires, and embracing a sell-ready mindset.

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