Season 5 - Episode 2: Sherpa’s Guide to Selling Your Business - Expert Advice from Laurie Barkman
Welcome to Startup Different! This week we’re excited to welcome a sherpa - specifically a business transition sherpa, to the show!
Laurie Barkman, The Business Transition Sherpa®, is the former CEO of a $100 million dollar revenue company that was sold to a Fortune 50. She guides business owners through the often overwhelming process of transition planning and facilitates sell-side and buy-side transactions in the lower middle market.
Laurie is an adjunct faculty member at Carnegie Mellon University, Amazon best-selling author of "The Business Transition Handbook," and host of the award-winning Succession Stories Podcast and the new show “the entrepreneur gene”. And she’s here to kickoff Season 5!
Takeaways
Laurie's journey from HR to CEO showcases the importance of career transitions.
The Sherpa concept emphasizes guidance and support in business transitions.
Due diligence is crucial and should involve the entire executive team.
Investing in innovation is essential for long-term business success.
Understanding customer pain points is key to creating valuable solutions.
Exit planning should be a consideration from the start of a business.
Most businesses do not survive past their 10th year, highlighting the need for planning.
Entrepreneurs should not navigate transitions alone; support is available.
The Corporate Startup Lab at Carnegie Mellon fosters innovation in established companies.
The Business Transition Handbook provides valuable resources for business owners.
Sound Bites
"I want to be more frontline."
"The Sherpa is with you on your journey."
"This is a marathon and not a sprint."
Chapters
00:00 Introduction and Career Journey
09:37 The Sherpa Concept and Helping Entrepreneurs
19:03 The Corporate Startup Lab at Carnegie Mellon University
27:19 The Business Transition Handbook and Endgame Entrepreneurship
31:54 Busting the Myth of Exit Planning
Laurie Barkman’s Contact Info
Carnegie Mellon University Profile: https://scholars.cmu.edu/10090-laurie-barkman
The Business Transition Sherpa Website: https://thebusinesstransitionsherpa.com/
Succession Stories Podcast: https://thebusinesstransitionsherpa.com/succession-stories-podcast/
The Entrepreneur Gene Podcast: https://www.entrepreneurgene.live/