Business Ownership and Succession Strategy

Running a family-owned business is not easy. In fact, it may be the most difficult form of business entity to run, grow and manage. Bruce Werner has experience doing this and he also has experience working with public companies and private equity.

On this episode of the inside BS Show, Dave Lorenzo Inter views Bruce Werner and picks his brain about succession planning, running a family business and working with private equity funds.

Timestamps:

00:00 – Introduction: Business Ownership and Succession Strategy
02:00 – Bruce Werner’s History with a Family Business
03:00 – Werner’s Three Rules for Family Business Success
04:28 – Bruce’s Recent Background
05:20 – What is the Value of an Outside Advisor to a Family-Owned Business
07:50 – What is a Family Constitution? Why is it Important?
09:40 – How Experience in a Family Business Prepared Bruce for Publicly Traded Companies 
13:40 – Was there More Empathy in the Werner Business Because It Was a Family Business?
21:15 – Bruce Explains How Private Equity Worked for Him (He’s Been on Both Sides)
23:00 – How Bruce Helps the Business Owner
26:30 – How Does Bruce Get Paid?
28:30 – Bruce Explains “A Day in His Life.”
30:00 – Who Are Bruce’s Best referral Sources?
32:30 – The Wrong Person to Introduce to Bruce is…
33:20 – Bruce Wrote a Book Titled: “Your Ownership Journey” Link in Description

Here is Bruce’s Book on Amazon: https://www.amazon.com/Your-Ownership…

Bruce Werner Managing Director Kona Advisors (847) 910-2025 Bruce@KonaAdvisors.com www.KonaAdvisors.com

About Bruce Werner Bruce Werner is the Managing Director of Kona Advisors LLC, which provides governance and owner advisory services to middle market businesses. His range of assignments has included M&A, strategy, finance, workout, succession planning and all facets of family business consulting. Mr. Werner is an experienced outside director, having served on numerous boards during periods of growth, restructuring and crisis management. He writes and speaks on ownership and governance issues impacting the middle market.

📺Watch and Enjoy!