The Business Owner’s Guide to Exit Planning and Transferable Value | The Family Biz Show Ep. 104
Release Date: 05/24/2024
The #1 Mistake That Could Cost You MILLIONS When Selling Your Business | The Family Biz Show Ep. 133
The Family Biz Show
Ready to sell your business? What if one mistake could cost you millions before negotiations even begin? "Am I really getting the best price?" "What if my business isn't worth what I think?" "Should I accept the first offer?" "How do buyers actually value my company?" "What if I'm not as prepared as I thought?" This conversation gives you the answer. In this episode of The Family Biz Show, Michael Palumbos sits down with Cameron Bishop, Partner and Managing Director at Raincatcher, to uncover the costly mistakes business owners make before selling their companies. From owner dependency and...
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Built To Last: Sustainable Success For Family-Owned Construction Businesses | The Family Biz Show Ep. 132
The Family Biz Show
Growth can look like success from the outside. But inside a family-owned construction business, growth can also create pressure, confusion, and decisions the original business model was never designed to handle. “You built something successful, but why does it feel harder to run?” “Why is every decision still coming back to you?” “How do you pass the business forward without damaging the family?” “What happens when wealth grows faster than communication?” “Are your advisors solving separate problems, or helping you see the whole picture?” This conversation gives you the...
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The Family Biz Show
If you are raising children in a wealthy family, you may wonder how to give them opportunity without taking away their drive. This conversation helps you understand what children need to learn early so wealth becomes a source of responsibility, not entitlement. “I want my kids to appreciate what they have.” “I don’t want comfort to make them soft.” “How do I talk about money without saying too much?” “How do I raise grounded children when life is already easier for them?” “What if I’m accidentally making things too easy?” This conversation gives you the answer. In this...
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The $84 Trillion Opportunity Most Family Businesses Are Missing | The Family Biz Show Ep. 130
The Family Biz Show
You can build a successful business… and still lose the family along the way. Most family business transitions don’t fail because of one catastrophic mistake. They fail because of small conversations that never happened. Because leadership wasn’t prepared. Because expectations were never aligned. Because no one wanted to ask the hard questions. “What happens when I step away?” “What if my kids don’t want the business?” “How do we protect both the company and the relationships?” “Why does every conversation about succession become emotional?” This conversation gives you...
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The Family Business Problems Legacy Can Solve | The Family Biz Show Ep. 129
The Family Biz Show
Most conversations about family business problems focus on what’s broken—conflict between generations, lack of succession clarity, or stalled growth. But what if many family business problems aren’t caused by dysfunction at all? What if they’re caused by something far less obvious—and far more fixable? In this episode of The Family Biz Show, Michael Palumbos sits down with second-generation owner Ed Delia to explore a different lens: many family business problems are not operational failures. They are translation failures. They come from businesses that have built something...
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Common Mistakes During Family Business Estate Planning | The Family Biz Show Ep. 128
The Family Biz Show
What if the biggest threat to your family business legacy isn’t taxes, markets, or competition… but the way your estate plan was designed? This episode challenges one of the most accepted beliefs in family wealth: that family businesses inevitably fail by the third generation. “Why does it feel harder to talk about wealth with my kids than it does to build the business?” “How do I prepare the next generation without losing control?” “What if my estate plan is protecting the money… but hurting the family?” “Why do successful business leaders struggle with family...
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How to Grow a Family Business Without Breaking The Family | The Family Biz Show Ep. 127
The Family Biz Show
What if you could grow your family business without losing the relationships that matter most? Too many family businesses succeed financially while quietly falling apart personally. This episode explores how to avoid that. “I feel like the business is creating distance in my family.” “Growth is bringing more pressure and conflict.” “How do we scale without losing trust?” “I don’t want success to come at the expense of relationships.” “Can family and business actually work together long term?” This conversation gives you the answer. In this episode, Christina Armentano,...
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Family Business Governance That Actually Works Across Three Generations | The Family Biz Show Ep. 126
The Family Biz Show
What if family business governance was less about formal rules—and more about having the right conversations before things break? If you work with family, you know the tension can feel personal fast. “Why does a small disagreement turn into something bigger?” “How do we keep family roles and business roles clear?” “What happens when the next generation wants to grow differently?” “How do we honor the founder without staying stuck?” This conversation gives you the answer. In this episode, you’ll hear from Peter Roberti of Adrian Jules, a third-generation custom clothing...
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What Makes a Family Business Last Across Generations | The Family Biz Show Ep. 125
The Family Biz Show
What actually keeps a family business alive across generations? And how do you protect both the business… and the family relationships that come with it? “Why does succession feel so complicated?” “How do you prepare your kids without creating entitlement?” “What happens when family dynamics start affecting business decisions?” “How do you know if the next generation truly wants this life?” This conversation gives you the answer. In this episode of The Family Biz Show, you’ll hear the powerful story of Domenic Cortese and Cortese Construction Services — a family business...
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Why Brand Can Make or Break Family Business Succession & Legacy | The Family Biz Show Ep. 124
The Family Biz Show
What if the biggest threat to your family business succession isn’t leadership… but your brand? What if the trust your family spent decades building disappears the moment leadership changes? “Why do customers only trust the founder?” “What happens when the next generation takes over?” “How do we protect our reputation across generations?” “What if our culture exists only in people’s heads?” “Can a family business survive without continuity?” This conversation gives you the answer. In this episode, Michael Palumbos sits down with Megan Lynch of Six Point Strategy to...
info_outlineWhat happens to your business when you're no longer running it?
And more importantly...
Will the business you've spent years building continue to thrive without you?
"What if my business depends too much on me?"
"What happens to my employees and family if something unexpected happens?"
"Am I financially ready to leave the business?"
"How do I know if my business is actually transferable?"
"What kind of legacy am I really creating?"
This conversation gives you the answer.
In this episode of The Family Biz Show, Michael Palumbos sits down with John Leonetti, President of the International Exit Planning Association, to explore why exit planning is one of the most important—and most neglected—responsibilities of business ownership.
Many business owners spend decades building value but never develop a strategy for transferring that value. The result can be unnecessary risk, family conflict, financial shortfalls, and businesses that struggle to survive after the founder steps away.
John explains how exit planning provides a framework for protecting business value, preparing successors, reducing owner dependence, and creating a path toward long-term continuity and legacy.
About the Guest
John Leonetti is the President of the International Exit Planning Association (IEPA), an attorney, author, educator, and nationally recognized leader in business exit planning.
Drawing from his own experience in a family business and decades of work helping owners navigate transitions, John has trained thousands of advisors and guided business owners through successful succession, transition, and exit planning strategies.
The Core Insight
Most owners focus on running the business.
Very few focus on preparing the business to operate without them.
The businesses with the greatest transferable value are often those that have successfully separated ownership from day-to-day dependence on the founder.
That shift can dramatically improve continuity, succession success, and long-term business value.
Practical Value
This episode provides practical frameworks for assessing exit readiness, identifying value gaps, improving transferability, and beginning strategic conversations long before retirement becomes urgent.
You'll learn how successful owners think about transition planning and how small strategic changes today can create significantly better outcomes in the future.
One powerful takeaway is the distinction between being the owner of a business and being the steward of a business—a mindset shift that can transform how leaders approach succession and legacy planning.
In This Episode, You'll Learn:
- Why exit planning should begin years before a transition
- How to identify and close the business value gap
- Why owner dependence reduces business value
- How transferable value impacts succession success
- Why most business owners are not mentally ready to exit
- How stewardship thinking strengthens family business continuity
- Why exit planning creates the foundation for succession and legacy planning
Closing Thoughts
Your exit is not a single event.
It's a process.
The earlier you begin planning, the more options you create for yourself, your family, your employees, and the future of your business.
If you're serious about protecting what you've built and creating a lasting legacy, this episode is an essential place to start.
👉 Learn more and explore additional Family Biz Show episodes:
https://www.familybusinessflywheel.com/podcast