Interview Patty

Betwixt & Between

April 23, 2024

Our foundational beliefs, especially as women, are limiting how we build, optimize, and exit our companies.

As Henry Ford famously said: “If you think you can do a thing or think you can't do a thing, you're right.”

If you believe you will run your company until you want to stop working and then close the doors, that is exactly what you will do.

If you believe there is value in your business that others will recognize, you can work toward selling it.

But what you believe (or don’t believe) will chart the course for you.

That is why I’m so passionate about advocating for women business owners and helping them actively build the future of their dreams. Helping women see the potential and understand all their options is a privilege I don’t take lightly.

Today’s Question:

What are your top three beliefs about your business, generating revenue, or positioning for your exit you wish you could change?

But Here’s the Twist
. . .

Sometimes we believe we must choose between having a heart of gold or having gold in our pockets. That leaves us feeling caught ‘betwixt and between’, as my Mom used to say.

Here’s a good example:

Linda is a public relations expert who works primarily with environmental nonprofits such as parks, arboretums, and botanic gardens. Being outdoors is her passion and her joy, and she is well known in her community.

She shared her belief with me: “I can’t serve others the way I want to and still make a lot of money. If I charge more, fewer people will be able to work with me, and I’ll feel like I’m compromising my values.”

How can we reframe Linda’s belief? The central point of The Broken Cookie Effect® is to want everyone else to have the whole cookie. The problem with this approach is that we live on crumbs.

As a rule, we think the primary way to generate more revenue is to raise our prices. However, that is only one of many ways to make more money. You don’t have to choose between making a profit and making a difference.

In Linda’s case, we reframed her belief in this way: “I can add structure to my pricing, so my clients work with me longer, trust me with bigger projects, or understand the need to go deeper with their communications. I can add structure now and perhaps increase my pricing over time. My work and pricing can be aligned with my values, which ultimately makes me more effective.”

-- Excerpt from Patty’s book, Your Hidden Advantage: Unlock the Power to Attract Right-fit Clients and Boost Your Revenue

Now What?

Even as a boutique company, you can build value and position your company for your exit. Many women think they can’t sell their expertise-based business, but you can.

Every company I’ve worked with has less than 15 team members, and the owner has built a powerful engine to generate revenue, while building real business value.

At some point, you will exit your business, whether it’s voluntary or not. Are you leaving your life’s work, your impact, and your legacy in the hands of fate?

Even if your planned exit is 5-10 years down the line, the time to prepare is now.

Intentionally building value and positioning your company for your exit is a solid business strategy. While you are planning your transition, you will make more money, lift the burden of the business from your shoulders, and find balance between work and leisure.

You can share your heart of gold while still putting gold in your pockets by shifting your beliefs and trusting you can ‘do a thing’. This includes positioning your business for your exit when the time is right.

An Elegant Exit™ requires a new way of thinking, new skills, a simple and elegant design, and an advocate on your side. Contact me to learn more. 

Discover your Exit Readiness Index™ with this assessment: http://she-exits.com/

A Note from Patty...

My life’s work is empowering high-achieving women business owners to fine-tune their operations and scale their revenue for strategic growth, creating real business value and emerging exit ready. That value can transform into wealth when they are ready to exit their company - and I believe that wealth in the hands of women elevates society as a whole.

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