Business Owners, Negotiations and "Necessary Roughness"

Last night, we had the absolute pleasure of attending the NAWBO (National Association of Women Business Owners) Orange County chapter in their monthly dinner seminar. It was incredible seeing a room filled with over 100 women (and a few men) representing a growing minority in the business world. After about an hour of networking and sharing with the group the kinds of services that Plethora Businesses provides (valuations, consultation, assisting in the selling of businesses and developing exit strategies), we were entertained and educated by the great Mimi Donaldson. Mimi's talk, as well as her book, Necessary Roughness was about the need to do business like football. You go in with a mission, you do the impossible and you stop when the whistle blows. She had us laughing, nearly to the point of tears, but also made many realize that women, especially strong women, have a hard time doing business, solely because they let their own emotions get in the way. Want to sell your business? Fantastic. But it's important to first know realistically how much it's worth. We can't stress enough the important of a valuation. Looking to develop and exit strategy? Make sure you plan it 3-5 years before you actually want to walk away. Some women are methodical planners, but like football, the need to be objective is required and often rough. Please check out Mimi's website and book. She's hilarious but also informative. She, like an objective M&A transaction adviser, can provide you with the wealth of knowledge needed to succeed.