‘Succession Planning with Heart’ Supports Successful M&A
It was so fun to sit down with John Martinka of Martinka Consulting and his audience to share some of the biggest lessons I learned from my getting my own “deal” done and my passion for supporting others on a similar journey.
You can listen or watch by clicking on the links below.
John shares this passion for helping business owners and buyers through what can be a life-changing experience—the sale of a privately owned business. I love their tagline:
We change lives through business transitions. Let us help you buy the right business the right way or exit with style, grace, and more money. ™
Succession planning is about so much more than “just” strategic planning and executing a deal. While both—planning and successful execution—are important, at its core M&A and internal succession is all about the psychology of change. In particular, if you’re a founder/owner, it requires A LOT of intentional focus on managing your emotions and effectively engaging with your most essential stakeholders so that you can enjoy creating a mutually beneficial outcome for all.
John and I had an engaging conversation where I shared the lessons learned from my personal journey – from business owner to navigating the sale of my business – but also what, I believe, is the #1 derailer for many who aspire to do the same.
I also share
- My definition of Succession Planning with Heart ™ and how it supports doing succession planning the “right” way.
- The value of creating true buy-in with your stakeholders by engaging in courageous conversations.
I hope you’ll gain some helpful insights and be inspired to begin having those courageous conversations regarding your aspirations for a successful succession event and creating a meaningful legacy.
Is creating and leaving a legacy important to you?
Let’s connect to find out if you’re ready for a personalized action plan so that you too have a clear path forward: a success plan for today and a succession plan for tomorrow.
Together we’ll determine what you really want for your legacy so that you and your business thrive on this phase of your journey… starting right where you are.
Click here to download our complimentary report– “5 Questions Business Owners Never Ask and Should, to Create a Succession Plan that Works ”
Highlights of Laurie and John’s conversation:
- Kicks off with the #1 derailer.
- 2:45 Impact of the disconnect between owners and key NextGen successors/professionals (The antidote: Courageous conversations!)
- 5:00 Value of successor development—requires commitment and investment of time to cultivate buy-in.
- 6:00 Case study: Baby Boomer owner and MUCH younger successor.
- 9:10 The Succession Success Formula—all about win-win-win.
- 11:25 What can trip up an internal succession plan.
- 12:50 The two most common undercurrents at cross purposes with your plans
- 16:15 Surprises that came up during my own transition.
- 21:15 Final thoughts… importance of self-awareness and emotions as you start and move through this journey.
Check out more videos or connect directly with John or Jessica Martinka and Martinka Consulting:
Listen to John and the Getting the Deal Done Podcast Series on Buzzsprout or your favorite platform.