Mar 12, 2024
In this episode of the Customer's First Podcast, host Tacey Atkinson interviews Laurie Barkman, a business transition and acquisition expert. As a mergers and acquisitions advisor, Laurie provides a structured process for business owners to plan successful company transitions.
Laurie is the author of "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options." This book demystifies the often overwhelming exit process, guiding business owners to consider leaving their ventures or beginning to think about their next steps.
Laurie discusses the significance of succession planning and how it can positively impact stakeholders. Laurie highlights the need to plan for an exit in advance and stresses the importance of building value in a company through strategic planning and reducing owner dependencies. The conversation also delves into business owners' challenges in implementing succession plans, such as time constraints and the emotional aspects of letting go. Laurie explains how succession planning can add value to customer-centric companies by creating alignment, preparing for leadership transitions, and attracting potential buyers. She emphasizes the benefits of proactive planning and aligning with the company's vision for the future.
Timestamps:
0:11:14 The Importance of Exit Planning
0:20:05 Factors Affecting Business Value
0:33:50 Final Thoughts and Challenge
Laurie's Contact Information:
Website: https://thebusinesstransitionsherpa.com
Book: BusinessTransitionHandbook
Social Media Profiles: @lauriebarkman
Tacey's Contact Information:
Website: https:www.taceyatkinson.com
All of Tacey's social media profiles are linked there and here:
https://linktr.ee/taceyatkinson
Thank you for tuning in, and I look forward to having more valuable conversations together in the future.
Remember:
Customer-Centric Cultures Create Magical Customer Experiences.
Now Go, Create the Magic!