Core Reasons for Being Trapped: The primary reasons owners cannot leave their businesses include strong emotional attachment (37%), financial dependence on the business income (25%), inability to sell at a profitable price (20%), and a lack of suitable buyers (19%). According to LinkedIn. Workload and Burnout: Many owners are forced to work longer hours, with 60% struggling to get time off and 54% having given up hobbies and personal activities, according to Medium. For Laurie Barkman: Growing up, I launched my first services business at age 10, mowing lawns, raking leaves, and babysitting. In high school, I leaned into leadership, learned how to address challenges head-on, and made a lasting impact on my community. That drive to build winning teams took me to Cornell University, where I studied Industrial and Labor Relations. I began my career at Ingersoll-Rand, a global engineering firm, working shoulder-to-shoulder with engineers and plant teams to reengineer operational processes for productivity and cost improvements. It was there that I first saw how analytical and technical leaders think. Later, I earned my MBA from Carnegie Mellon University, intentionally choosing a rigorous quantitative program to refine the analytical skills I knew I’d need to lead and advise in structured, technical environments. Over the years, I built a career spanning Fortune 500s and startups, leading teams through high-growth transformation, including time in logistics, SaaS, e-commerce, and operations, often in collaboration with engineers, data-driven founders, and technical teams. The search was part of a long-term succession plan. A third-generation family business and leading transportation and logistics company in North America sought a new divisional CEO. In the interview process, I was told, “We’re not interviewing you for the next 2 years…we’re interviewing you for the next 20.” Playing the long game excited me. Taking on this role was a perfect storm of high expectations, internal resistance, and every eye was watching. I wasn’t necessarily who they expected, but I knew how to create value. I steadied the ship and shifted mindsets towards transformation. Eventually, we guided the company to a successful sale to a Global Fortune 50 company. After the acquisition was completed, I stayed on as a senior executive and served on the Integration Steering Committee, advising on the launch of new e-commerce fulfillment services. Back to the original notion of staying in the company for 20 years. As things played out, my tenure was only three. Was I disappointed? Heck no. I realized that while we may have a plan, sometimes plans change for good reason. The acquisition “put some money in my jeans” and gave me the flexibility to pursue my entrepreneurial passions. For more information: https://lauriebarkman.me/ LinkedIn: @LaurieBarkman Learn more about your ad choices. Visit megaphone.fm/adchoices
