40: Small Business Exit Strategies with Randy Long
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 19 September 2016
⏱️ 40 minutes
🧾️ Download transcript
Summary
Is your business ready for an exit? You may decide to sell your business, a life event may force a change, or you may want to transition it the next generation. Preparing for these eventual business events requires an Exit Strategy. Randy Long (Entrepreneur, CPA, Lawyer, Financial Planner, Author) shares tips & advice for small business owners to prepare your business for a successful exit. Randy's latest business book is "The BraveHeart Exit, 7 Steps to Creating Your Family Business Legacy".
Randy Long, and his firm Long Business Advisors, assist with managing the sale of a business, helping entrepreneurs prepare their business for sale or transition, and coaching & consulting to help people grow their small business.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the How of Business with David Begin and Henry Lopez, the podcast that offers practical advice and tips on how to run and grow your small business. |
| 0:10.3 | The How of Business helps aspiring entrepreneurs and small business owners achieve their definition of success and overcome challenges that get in their way. |
| 0:18.6 | This podcast series focuses on the everyday common business issues, |
| 0:22.6 | challenges, and opportunities that face the small business owner. So here now are your hosts of |
| 0:27.7 | the how of business, David and Henry. Welcome to this episode of the how of business. This is |
| 0:36.5 | Henry Lopez and I have with me today a guest, Randy Long. |
| 0:40.4 | Randy, welcome to the show. Thank you. It's good to be here, Henry. Let me give our listeners a little bit of background on Randy and then we'll get started. Randy is the CEO of Long Business Advisors and the creator of the brave heart planning process and the author |
| 0:57.9 | of the book, The Brave Heart Exit, Seven Steps to Creating Your Family Business Legacy. And we'll be |
| 1:04.2 | chatting about that book and some of the key takeaways here on this episode today. |
| 1:09.4 | His unique business perspective, which has been built upon an extensive background of more than 30 years of experience in law and finance, |
| 1:18.2 | enables him to help business owners build and transition or sell their business, allowing them to create a family business legacy. |
| 1:26.1 | Randy has practiced law in the areas of estate planning |
| 1:29.4 | and business planning since 1989. In addition, he's a certified financial planner and has owned |
| 1:36.5 | a wealth management firm since 1985. Randy understands the importance of family. He and his wife, |
| 1:42.8 | Lydia, have five children. His |
| 1:45.2 | firsthand knowledge of growing his own family business places him in an ideal position to help others. |
| 1:51.1 | And for today's discussion, thank you, Randy, for being with us. And if you'll please add to that |
| 1:56.3 | intro and tell us a little bit more about yourself. So yes, I grew up in a family of six kids. My father was a |
| 2:03.1 | pastor and needless to say, we didn't have much money. And so we learned how to work early. And my |
| 2:10.9 | very first job was actually when I was six years old and I picked cucumbers for a little company that |
| 2:16.6 | made pickles. So I remember I got a |
| 2:19.3 | nickel a bucket. So I've been working for a long time and I've worked for many entrepreneurs |
... |
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