When is the Best Time To…?

Say what you will about Houston and its four seasons (drought, flooding, scorching and sweltering), there are days as summer turns to fall that are spectacular. That crisp coolness that creeps in just before Halloween puts a spring in my step.

Like any change, the cool weather brings a mix of emotions: joy, because it's no longer 100 degrees outside; annoyance, because it's chilly in the morning and I’m not dressed for it; anger, because the temperature shoots back to 90 degrees in two days; and finally, acceptance, because this is just how it is here in ‘Heavenly Houston’.

Truly, I’m grateful for every day, come rain or shine…

After writing almost 100 original long-form articles, I noticed some patterns in the questions women business owners are asking me.

Many women don’t think they can sell their company and will have to settle for closing the doors someday. If that’s your thinking, you’re missing out on building wealth and leaving a legacy. If you’re not even thinking about your business exit, it is highly unlikely you can make it happen!

I am posing real questions from real women and highlighting the articles that address that question.

Today’s BlockbustHER BrainteasHER:

Lorie owns an immigration law practice and wondered: “When is the best time to exit my business?”

A reminder: You too can ask me a business question and have it answered in these articles. I pose real questions from real women and highlight the articles that address that question.

Please submit questions to [email protected]. Let me know if you prefer I not use your name in the article.

Here’s the Twist . . .

Whew – this is a tough question: “When is the best time to exit my business?” With lots of variables and unknowns, this is a highly personal choice.

Do you know what happens a lot? A potential buyer swoops in to buy a company, long before the owner has a chance to prepare – financially, logistically, or emotionally...

My best advice is to prepare now, even if your eventual exit is 5 or 10 years down the line. By building real business value, you’ll increase your revenue, streamline your operations, and may even have a potential buyer find you!

Your business life cycle is similar to the seasons – hopefully not Houston’s seasons – and there are lessons in this analogy:

• What do the seasons mean for you?
• How can you embrace the chill of Winter?
• How to avoid a mistake that can decimate your business?

Now What?

Are you stuck in your Second Act?

Have you built a profitable and valuable business but instead of feeling like there's something missing, you’re feeling like there's something more?

If you’ve built an accounting firm, a law firm, a financial services firm, a psychology practice, or a specialty consulting firm that is generating $1 million to $10 million in annual revenue, you are in a prime market.

Larger firms and companies are growing by buying other firms. This has long been the case, but we’re seeing a higher rate than ever.

I wish it wasn’t the case, but I see too many women who actually lose their company instead of exiting on their own terms. The exit process is filled with pitfalls and complex issues – especially for women.

I’ve built my business as an advocate, and I specialize in helping women founders transition to their Third Act – when you’re ready to do the work you’ve always longed to do.

Work that lights you up… work that is your purpose instead of just a paycheck. ?

Often, to get to your Third Act, you need to exit from your Second Act, preferably with funds from a sale that turns your business into a wealth-building tool.

As your advocate, by definition, I’m looking out for your best interests. I am not taking a brokerage fee, commission, or equity. I am not motivated by how quickly the exit moves or the final dollar amounts. I want what you want – and will help you get it.

In my experience, women don't retire; they transition into a new stage of purpose and impact. Whether you are 40 or 60, the idea of retirement may not appeal to you. Just because you can retire doesn’t mean you’ll want to.

We can redefine ‘retirement’ and think of your eventual business exit as a ‘purposeful transition’.

Are you ready to leap into your Third Act and grab the whole cookie?

That requires a new way of thinking, new skills, a simple and elegant design, and an advocate by your side. Contact me to learn more.?

How exit-ready are you? Find out at:?https://she-exits.com/

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? The Block Group Inc.