Did you know that only 20% of businesses sell... and 75% of owners express regret after selling?

Dive in as Succession Stories host, Laurie Barkman, talks with Jerome Myers about why just 5 out of 100 of businesses exit with excellence.

Jerome is the founder of Exodus and an award-winning engineer turned business strategist who helps leaders navigate post-exit transitions. Through his NEO Navigator program and DreamCatchers podcast, he guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.

He brings extensive experience from leading a $20M operation in a Fortune 550 corporate startup, and guides founders through key life transitions, aiming to help them build a lasting legacy and contribute meaningfully to their communities.

This episode will get you thinking about how you can exit with excellence!

Topics:

• The Founder's Exit Paradox: Dive deep into the emotional and psychological challenges founders face when exiting their businesses and how to navigate this transition.
• Planning for Post-Exit Fulfillment: Discuss strategies for aligning new ventures and personal passions after exiting a business to ensure continued fulfillment.
• Creating a Purpose-Driven Exit Strategy: Share insights on building an exit strategy that not only maximizes financial returns but also aligns with long-term personal goals.
• The 8 Exits of a Founder: Introduce and explain the framework Jerome developed to help founders understand the different types of exits and how to choose the right one.
• Navigating Identity Realignment After Exit using the N.E.X.T. Framework: Talk about the importance of recalibrating personal identity after leaving a business and how founders can thrive in their next chapter.

Links:

• LinkedIn: linkedin.com/in/jeromemyers
• Website: exittoexcellence.com

Succession Stories is Sponsored by The Business Transition Sherpa®

• LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/
• Website: https://thebusinesstransitionsherpa.com/
• Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
• Course: https://thebusinesstransitionsherpa.com/course/

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Laurie Barkman interviews Albert Ciuksza to challenges faced by millennial successors as they take over from baby boomer predecessors. Listen in as they discuss Albert's new book, “Succeeding: Stepping Up Without Stepping In It."

There's a demographic shift, with 10,000 baby boomers retiring daily from 2024 to 2027, often skipping over Gen X. There are emotional dynamics of succession that can sabotage successful transitions due to emotional attachment. Dive in to learn about practical tools for navigating succession effectively and avoid leadership mistakes.

Links for Albert:

https://solutions21.com/succeeding/

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options"

https://thebusinesstransitionhandbook.com

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❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Laurie Barkman interviews brothers and business partners, David and Chris Sinkinson, about their experience as co-founders of AppArmor, a bootstrapped SaaS business with a $40 million exit. They discuss the importance of understanding product-market fit, the role of unhappy customers in identifying issues, and the significance of recurring revenue in their app business. The conversation highlights the value of building relationships with potential buyers over time, which contributed to their successful exit.

They emphasize the importance of selling at the right time to capitalize on growth potential. The brothers also share their experience of transitioning out of the company and their ongoing efforts to help other entrepreneurs in their new venture called Startup Different. Check out their podcast and new book called “Startup Different.”

Enjoy this episode with Chris and David Sinkinson and their succession story from idea to exit.

Links for Chris and David:

Website: https://www.startupdifferent.com/

LinkedIn: https://www.linkedin.com/company/startup-different/

Instagram: https://www.instagram.com/startupdifferent/

YouTube: https://www.youtube.com/@StartupDifferent/

• LinkedIn: https://www.linkedin.com/company/thebusinesstransitionsherpa/
• Website: https://thebusinesstransitionsherpa.com/
• Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
• Course: https://thebusinesstransitionsherpa.com/course/

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Today’s episode is a rewind of one of our favorite conversations with Karen Norheim, a second generation CEO of American Crane, a manufacturing company founded by her father. The show first aired in 2021.

Listen in as show host Laurie Barkman, The Business Transition Sherpa, talks with Karen about what fueled their succession story.

Karen stepped into her new role with curiosity and tenacity to make things happen. She led the company to lean in on strategic growth and innovation and are seeing the benefits.

As an update to the show, later in 2021, the family experienced the unexpected death of her father. Fortunately Karen and the company were well positioned.

Connect with Karen:

https://www.karennorheim.com/

https://www.americancrane.com/

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Stop feeling like a prisoner of your own company, and start feeling a sense of freedom like when you first started your business.

We'll show you how.

Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.

Get a 15% discount at checkout with code: successionstories15

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📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of Laurie's book "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options":

https://thebusinesstransitionhandbook.com

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❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Host Laurie Barkman, The Business Transition Sherpa®, interviews Maryann Bell, a partner at Wingspan Legacy Partners, about the common myths and challenges facing next generation successors in family businesses.

Maryann shares insights on the importance of communication, education, and bringing in outside expertise to navigate the delicate dynamics of family business transitions.

Listen in as they discuss strategies for stair-stepping next gens into the business, assessing fit, and managing the transfer of ownership and authority.

This episode provides valuable guidance for family business leaders and successors looking to ensure a smooth and successful succession.

Show Notes:

- Common myths facing next generation successors in family businesses
- Challenges family business advisors face, including uncertainty and communication issues
- Advice for families on embracing succession planning and bringing in outside expertise
- Importance of engagement, education, and clear employment policies for next gen successors
- Navigating the balance between leadership and ownership succession
- Strategies for assessing fit and managing non-operating family members
- Transferring ownership and authority, and the shift from owner-operator to owner-investor

Connect with Maryann Bell:

Wingspan Legacy Partners

Maryann Bell LinkedIn

What’s your entrepreneurial endgame?

If you want your business to be ready to sell at maximum value, now is the best time to start planning.

Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.

Get a 15% discount at checkout with code: successionstories15

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com

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❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Host Laurie Barkman, The Business Transition Sherpa, talks with Henry DeVries, publisher, writer, and CEO of Indie Books International.

Listen in as Henry debunks a few myths about creating a sustainable competitive advantage in service businesses through niche specialization.

They also discuss the importance of candid conversations in business ownership transition and exit planning to offer valuable takeaways for business owners. Henry shares how he is planning for succession and exit with a focus on growth and value. Defining the legacy and impact a business owner wants to leave behind is a key part of the planning process.

Find Henry DeVries Here:

http://www.linkedin.com/in/henryjdevries

Indie Books International Website

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

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BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?

Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.

Book a call to learn more:

https://thebusinesstransitionsherpa.com/course/

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com

Join host Laurie Barkman, The Business Transition SherpaⓇ, as she celebrates four years of inspiring conversations and life-changing insights on the Succession Stories podcast.

With over 4.5 million companies and $14 trillion of business wealth at stake in the next decade, Laurie's mission to guide entrepreneurs through their succession journeys has never been more crucial.

Laurie unveils The Endgame EntrepreneurshipTM Masterclass, designed to guide entrepreneurs through the complexities of business transition.

This comprehensive online course offers self-paced video lessons, exercises, and a supportive community of advisors to help you maximize your business value and plan for a meaningful future.

With millions of businesses at a crossroads, there’s an imperative to go beyond exit strategies. It's about creating meaningful legacies and embracing the emotional journey of letting go.

What’s your entrepreneurial endgame?

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If you want your business to be ready to sell at maximum value, now is the best time to start planning.

Join the Endgame Entrepreneurship Masterclass at https://thebusinesstransitionsherpa.com/course/.

Get a 15% discount at checkout with code: successionstories15

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com

_______________________________________

❤️ Write a Review on Rate This Podcast: https://ratethispodcast.com/successionstories

Did you know that 87% of the businesses in the United States are family owned? That’s 32.4 million family businesses and they contribute $7.7 trillion to the GDP.

Pat Soldano, a strong advocate for family businesses, joins Succession Stories host Laurie Barkman, The Business Transition Sherpa.

Pat is the President of Family Enterprise USA (FE-USA) whose mission is to promote the growth of generational owned family businesses in the US. She is also President of Policy and Taxation Group that works to reduce onerous tax and economic policies for successful families, family business, and family offices.

Family Enterprise USA is relied upon to be the voice in Washington, DC for family businesses, generationally owned businesses, and multigenerational businesses across the US.

Listen in as Pat and Laurie discuss policy related challenges, particularly around taxes and estate planning. Succession planning impacts family businesses and that proactive planning is the way to mitigate some of these challenges over time.

Find Pat Soldano Here:

https://familyenterpriseusa.com/

https://policyandtaxationgroup.com/

❤️ Show us the love on Rate This Podcast: https://ratethispodcast.com/successionstories

_______________________________________

BUYERS BUY ON THEIR TIME, NOT YOURS. WILL YOU BE READY?

Learn more about the Endgame Entrepreneurship Masterclass and build with your exit in mind.

https://thebusinesstransitionsherpa.com/course/

_______________________________________

My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

_______________________________________

📘 THE BUSINESS TRANSITION HANDBOOK:

Get a free digital copy of "The Business Transition Handbook: How To Avoid Succession Pitfalls and Create Valuable Exit Options" by author Laurie Barkman:

https://thebusinesstransitionhandbook.com