When’s a Good Time to Think About Succession, Laurie Barkman on Building HVAC Science Podcast

August 15, 2023•1 min read

This episode should be helpful to business owners. However, anyone working in a business should find it interesting to know more about one of the topics on the mind of many business owners: business succession planning.

After walking the walk of leading a $100M family-owned business through their transition, Laurie is now a guide to business owners providing a structured process to plan successful transitions of their companies.

Laurie’s journey and expertise serve as a beacon of guidance, illuminating a path towards effectively planning and executing seamless transitions in the dynamic realm of business.

Laurie hosts a podcast, Succession Stories, has written a book: The Business Transition Handbook and is an adjunct professor of Entrepreneurship at the Tepper School of Business at Carnegie Mellon University.

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Show Links:

Youtube: https://www.youtube.com/@TruTechTools/podcasts
Website: https://www.buildinghvacscience.com/
Bill Spohn’s LinkedIn: https://rb.gy/8svaf

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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