For anyone who owns a business, the process of passing down a company from one owner to the next can be quite challenging.
Without proper guidance and careful planning, it can be difficult to know where to start when considering how best to transition ownership and ensure profitable continuity for yourself and future owners.
Furthermore, understanding the pitfalls of succession planning and developing clear exit options before any transactions occur is essential in creating positive long-term outcomes for all parties involved.
Join Matt DiFrancesco and Laurie Barkman, The Business Transition Sherpa, Author, and M&A Advisor, as they talk about how entrepreneurs can approach transitioning their businesses from transactional model efforts to more strategic initiatives —and what measures need to be taken to avoid common missteps along the way.
They talk about:
(02:46) The story behind the name “Business Transition Sherpa”
(03:51) What prompted Laurie to write the Business Transition Handbook
(10:31) Why businesses that are very dependent on the owner will not create much value
(11:56) What is a strategic readiness plan and why is it important?
(15:49) The best time to start planning for business transition
(19:58) A good place to start when transitioning your business
(22:52) Why is hiring a Transition or Exit Planning Specialist important?
Connect with Laurie Barkman
Website: https://thebusinesstransitionsherpa.com
Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
Connect With Matt DiFrancesco:
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
DISCLAIMER:
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.