What does it take to finance a business transition or acquisition? In this episode, Laurie Barkman sits down with David Miller, Executive Vice President at Enterprise Bank, to demystify lending for business owners — from SBA loans to insider buyouts.

David shares how banks assess deals, why management continuity matters most, and how entrepreneurs can become "bankable" when it's time to grow or exit.

💬 Quote from David Miller:

"Don't think you can't buy a business just because you're not personally wealthy. If you have the right skillset and knowledge of the industry, there are flexible ways to make it happen."

Key Takeaways:

💡 How SBA loans act as an "insurance policy" for banks — and a growth tool for small businesses.

👥 Why insider buyouts often outperform private equity or third-party acquisitions.

💰 How to match financing structures to your business goals and cash flow needs.

🏦 What "being bankable" really means — and how to build it before you need it.

🤝 Why having the right professional team (CPA, attorney, advisor) is critical in any business transition.

🎧 Tune in to Succession Stories to learn practical strategies for financing growth, buying a business, or preparing for your own successful exit.

✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book

📣 Write a Podcast Review: ratethispodcast.com/successionstories

Special thanks to Ryan Nolf, Marketing Director, for producing this Succession Stories episode live in studio at Enterprise Marketing.

Host Laurie Barkman welcomes Brandon Stanchock, CEO of SWF Industrial Inc. Brandon discusses his journey to take the helm of a family business. He emphasizes the importance of leadership, employee development, and implementing innovative collaboration strategies in the industrial sector. The conversation also highlights Brandon's commitment to providing support for employees and internal promotion programs. Brandon shares how his personal interests in travel, gaming, and podcasting align with his broader mission to help people reach their full potential both inside and outside the workplace.

Takeaways:

• Embrace the entrepreneurial gene. Leadership, innovation, and employee development are key traits for entrepreneurial success.

• Navigating leadership challenges. Leading a family business requires adaptability and a focus on collaboration to drive growth.

• Support employee growth. Providing support and promoting from within strengthens company culture and fosters employee loyalty.

• Focus on performance management and succession planning. Proper planning ensures long-term success for both leadership and employees.

• Align personal passions with business goals. Staying connected to passions like travel, gaming, and podcasting helps balance professional and personal growth.

Quote of the Show:

• " Give yourself some grace, give yourself some time." - Brandon Stanchock

✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book

📣 Write a Podcast Review: ratethispodcast.com/successionstories

LinkedIn: https://www.linkedin.com/in/brandonstanchock/

Host Laurie Barkman welcomes Larry Whiteside Jr., an expert in information security, risk management, and entrepreneurship. Larry discusses his journey from cybersecurity to becoming the Co-Owner of Lifesaver Pool Fence of Tampa and Co-Founder of Confide.

Larry emphasizes the importance of passion, operational efficiency, and overcoming challenges in business. They delve into key trends in cybersecurity, focusing on AI and automation's growing influence. The conversation also highlights Larry's commitment to promoting diversity in the cybersecurity field and how his military background has shaped his entrepreneurial approach. He offers valuable insights on balancing multiple businesses, aligning passion with business ventures, and prioritizing strategic operational planning.

Takeaways:

• Embrace the entrepreneurial gene. Outgoingness and exceptional storytelling are key traits for entrepreneurial success. Connecting with others and communicating your vision is essential.

• Navigating the transition to entrepreneurship. Financial instability and operational hurdles are common, but with perseverance and support from trusted partners, you can overcome these challenges.

• Promote diversity in your industry. Larry emphasizes the importance of fostering diversity in cybersecurity and encourages entrepreneurs to create more inclusive environments.

• Align passion with your business ventures. Staying connected to your passion helps maintain drive and resilience, especially during tough times.

• Focus on systemic operational planning. Managing multiple businesses requires trust in yourself and a strong commitment to strategic planning to ensure everything runs smoothly.

Quote of the Show:

• "Passion will continue to drive you forward." - Larry Whiteside Jr.

✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book

📣 Write a Podcast Review: ratethispodcast.com/successionstories

LinkedIn: https://www.linkedin.com/in/larrywhitesidejr/