Exiting a Family Business on Top with Tom Deans
“Tom Deans is the author of the trilogy Every Family’s Business, Willing Wisdom, and The Happy Inheritor,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “In this episode Tom will cover setting up a family bank, enabling your kids to buy you out and protecting the employee culture during the sale plus much more.”
In this week’s episode of Built to Sell Radio, we are joined by Tom Deans, a renowned expert on family business transitions and the author of the trilogy, Every Family’s Business, Willing Wisdom, and The Happy Inheritor. Drawing from his extensive experience, Tom shares invaluable strategies to help you navigate the complexities of selling a family business.
In this episode, you’ll learn how to:
- Avoid becoming a bottleneck for the next generation of leaders inside your company.
- Enable your kids to buy you out (without giving them any money).
- Protect your employee culture during a sale.
- Structure voting share agreements to avoid future conflicts.
- Maximize your business value without offering family discounts.
- Spot a “covert narcissist” and prevent them from derailing your transition.
- Set up a family bank.