Host Laurie Barkman, The Business Transition SherpaⓇ, is joined by Susan Keller, Founder of Entrepreneurial Executives. Susan advises businesses from startups to publicly traded companies on growth strategies and transactions. 

Laurie talks with Susan as a fellow M&A Advisor about why it's valuable for entrepreneurs to get an early start with transition planning. A great place to begin is conducting a thorough business evaluation to identify what needs improvement in the business.

They also discuss the challenges of owner dependency, and separating your identity from the company. Emotional considerations can arise if not. Set an intention to separate yourself from your business to see what aspects of your culture and values a potential buyer might want to preserve.

Top 5 takeaways:

1. Complete a comprehensive business assessment to identify operational gaps and formulate a robust transition plan.
2. Approach projects from the perspective of a potential buyer to enhance the business's appeal in the market.
3. Create a clear CEO job description to recognize dependencies and optimize the business's value.
4. Conduct thorough due diligence on potential partners to ensure a seamless and beneficial transaction.
5. Foster collaboration among all parties involved to achieve a mutually beneficial deal and pave the way for a successful transition.

 

Find Susan Keller Here:

https://www.ceoatlas.com

https://www.linkedin.com/in/susanakeller/

 

❤️ 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. 

https://thebusinesstransitionsherpa.com/course/

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My Links:

🌐 Website: https://TheBusinessTransitionSherpa.com

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

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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" by author Laurie Barkman: 

https://thebusinesstransitionhandbook.com