Expand Your Identity Beyond Your Business, Laurie Barkman on Financial Flossing

September 07, 2023•1 min read

In this enlightening episode, Laurie Barkman, a seasoned business transition strategist, joins host Ross Brannon to discuss the dynamics of selling a business, the ideal time to sell, and the significance of expanding one’s identity beyond one’s business.

Laurie dives into the intricacies of selling a business. She emphasizes the importance of seizing the opportunity during an upward growth phase, advises against trying to time the market, and suggests considering life stages rather than just age when planning to sell.

She also highlights the need to reverse-engineer the exit plan, focus on leaving a meaningful legacy for stakeholders, and understand your business’s true value while setting a clear transition timeline. Her key takeaway: commit to the process, clarify personal goals, and identify your driving factors for a successful business exit.

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Show Links:

Spotify: https://open.spotify.com/show/6giUCcsWrp3q9mvq17rUtJ
Apple Podcast: https://podcasts.apple.com/ma/podcast/financial-flossing/id1573619911

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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