How to Plan a Winning Business Transition, Laurie Barkman on Agent of Wealth

How to Plan a Winning Business Transition, Laurie Barkman on Agent of Wealth

Appearances
May 10, 2024•1 min read

In this episode of The Agent of Wealth Podcast, Laurie Barkman, “The Business Transition Sherpa” joins host Marc Bautis. Laurie shares essential strategies for proactively planning your business transition, emphasizing the importance of having a plan in place before it’s too late.

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Discover how to evaluate the value of your business effectively, with practical tips applicable to any business looking to enhance its worth. Explore the significance of creating a contingency plan and learn compelling reasons for its necessity.

Laurie also guides listeners on assessing potential risks and implementing measures to safeguard their businesses. Gain insights into navigating the delicate balance between numerical considerations and emotional decision-making.

Listen in to learn more about:

  • How to proactively plan your business transition before it’s too late.

  • How business owners can get clear on the value of their business, including tips any business can use to add value.

  • What it means to create a contingency plan, and compelling reasons for doing so.

  • How to assess potential risks, and protect your business against them.

  • How to determine what’s more important to you regarding numbers and emotional decision-making.

  • And more!

SHOW LINKS

Website: bautisfinancial.com

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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