Prepare For The Exit, Laurie Barkman on The Daily Author

June 18, 2024•1 min read

In Episode #57 of “The Daily Author”, Laurie Barkman joins host Owen Sammarone as she highlights the importance of planning for an exit from the beginning, encouraging business owners to structure their businesses to maximize value when it’s time to sell and to prepare for the exit from the start.

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Laurie shared insights on the common oversight of not considering an eventual sale, which can lead to a business not reaching its potential value. She discussed real-life stories where emotional attachment to a business complicated the decision to sell, and emphasized the importance of open communication and realistic assessment of capabilities and interests within family-run businesses.

They discuss her book, The Business Transition Handbook, and how appearing on podcasts to reach the right audience and building a strong organic following through valuable content and newsletters is important in marketing a book.

SHOW LINKS

Website: https://unleashtheknowledge.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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