Nick and Nick interview Brad Burklund, owner of Strategic Solutions, who helps business owners navigate transitions and exits after spending 31 years in the family tire business. Brad shares his expertise in business coaching, family business dynamics, and the shocking reality that 80% of small businesses never successfully sell.
- Why 80% of small businesses that go on the market never sell
- The emotional challenges of transitioning out of a family business
- How to prepare a business for sale by reducing owner dependency
- Managing family dynamics in multi-generational businesses
- The importance of focus vs. the entrepreneur's curse of chasing new opportunities
- Brad's mission work in Uganda and Haiti and how it shaped his servant leadership
- Strategies for grooming successors and building sellable businesses
- The critical role of vision and asking the right questions in business coaching
Chapters
- (00:00:00) - Crown Your Home With Royalty Roofing and Siding
- (00:00:25) - Exploring the Business: Strategic Solutions
- (00:04:18) - Transition from Family Business to a Startup
- (00:08:39) - How About That 80% Never Sell Their Business?
- (00:09:18) - What About the 20% of Business Transitions That Are Multi-
- (00:10:47) - Former Walker Tire Executives on How to Scale a Business
- (00:14:05) - Getting the Right People to Lead
- (00:15:14) - Having Been Around for 26 Years, Gaining the Right Stuff
- (00:18:22) - Have You Got Vision?
- (00:21:50) - Servant Mindset
- (00:25:40) - Sponsors help kids go to school
- (00:26:38) - Is There a Story, a Person, a
- (00:28:31) - Mixed emotions about Haiti
- (00:30:58) - Tom Cruise on the Entrepreneur Spirit
- (00:32:29) - How Have You Impacted Your Son's Entrepreneurial Growth?
- (00:33:51) - Retired consultant talks about his future
- (00:36:28) - In the Elevator With Elon Musk
