Patty Block Reveals the Secret to a Successful Business Exit for Women Entrepreneurs

Welcome to Good Girls Get Rich! I’m your host, Karen Yankovich, and today I’m thrilled to have the incredible Patty Block on the show! Patty is a business advisor, speaker, and author of Your Hidden Advantage. She’s been helping women business owners make the big leap into their third act with more confidence, profit, and joy. Patty Block is a business advisor, transition expert, author, and speaker. Since 2006, she has worked with women business owners who are experts in their fields to transition to their Third Act – when they’re ready to do the work they’ve always longed to do. These women have built profitable and valuable businesses but instead of feeling like there's something missing, they’re feeling like there's something MORE. In her bestselling book, Your Hidden Advantage: Unlock the Power to Attract Right-fit Clients and Boost Your Revenue, Patty reveals a new perspective and proven, practical solutions, guiding women to unleash their inner power to run their business with more confidence, profit, and joy. Patty considers herself a native Texan, even though she wasn’t born there. She got to Texas as fast as she could (at age four) and is based in Houston. Patty raised three wonderful humans who all caught the entrepreneurial bug and have their own successful businesses. Patty’s passion and experience as a business advisor and owner, lobbyist, political consultant, and non-profit executive comes full-circle, as she turns roadblocks into building blocks for women-owned businesses. #GoodGirlsGetRich  We want to hear your thoughts on this episode! Leave us a message on Speakpipe or email us at [email protected].   About The Episode: We’re diving deep into the “Broken Cookie Effect” – something I know every one of us can relate to. You know how we sometimes eat the burnt pancakes or broken cookies, while everyone else gets the best? Yeah, it’s not just in the kitchen – we’re doing it in our businesses too! Patty talks about how we undervalue ourselves and underprice our services, and the impact that has on our profits. Patty also shares her journey from politics to business and what led her to build programs specifically designed to help women. She has powerful insights on how we can stop underselling ourselves and start positioning our businesses for success – even setting ourselves up for that big “third act” or exit! Episode Highlights: The “Broken Cookie Effect” and how it shows up in pricing Transitioning from a successful second act to a purposeful third act Why so many women business owners undervalue their companies and how to change that The importance of building a business that can be sold, and how to position it for a successful exit Patty’s Exit Readiness Index – a powerful tool to help you evaluate your business for sale, even if you're not ready to sell   Final Thoughts: Why This Episode Matters: Ladies, if you’ve ever wondered if your business is “good enough” to sell or if you’re just not sure how to value what you’ve built, this episode is for you. Patty and I break down the importance of pricing, building revenue engines, and why your business is a key asset – your version of a pension! You don’t have to wait until you’re ready to retire to start thinking about this stuff. Takeaways: Stop eating the broken cookies! Value your work, price it right, and build your business for long-term success. It’s never too early to think about selling your business, even if you don’t plan on it anytime soon. By setting your business up for success now, you’re not only making more money today, but you’re also increasing your wealth for the future. If you loved this episode, take a quick screenshot and share it on social! Tag me @KarenYankovich and Patty @PattyBlock, and we’ll share it with our audiences. Let’s get more visibility for each other, grow our businesses, and create more wealthy women in the world!    Magical Quotes from the Episode: Patty Block: "I realized that one of my strengths was the power of perception and intuition, and I wasn’t going to suppress that. I could use it to figure out how to innovate, and it’s served me well in my career." "We’re bringing that spirit of self-sacrifice into our businesses, and it manifests in how we price our services. We undervalue ourselves, and then we underprice and overdeliver, which makes our profit go poof." "The truth is, you can sell your business. It is valuable. You just need an advocate who’s really there for you to guide you through the process." Karen Yankovich: "Let’s fill your cup up first, so that you’ve got a nice, full cup and can build the kind of life that you want for you and your family. Then let’s build that overflow, because you can serve from that overflow." "Why are we not building this business up to, like, what it could be? You don’t have to wait until the minute after you need it. Start thinking now about how your business serves your future self." "We’re eating the broken cookies, everyone else is getting the whole cookie, and we’re living on crumbs. It’s time to stop that." Resources Mentioned In This Episode: Connect with Patty Block on LinkedIn and Facebook Discover your Exit Readiness Index™ with this assessment, and learn what it takes to become exit read Learn more about Your Hidden Advantage Help Us Spread The Word! It would be awesome if you shared the Good Girls Get Rich Podcast with your fellow entrepreneurs on Twitter. Click here to tweet some love! If this episode has taught you just one thing, I would love if you could head on over to Apple Podcasts and SUBSCRIBE TO THE SHOW! And if you’re moved to, kindly leave us a rating and review. Maybe you’ll get a shout out on the show! Ways to Subscribe to Good Girls Get Rich: Click here to subscribe via Apple Podcasts Click here to subscribe via PlayerFM Good Girls Get Rich is also on Spotify Take a listen on Podcast Addict