Author: HairWeavings Editorial Team

As Seen on Dorit Kemsley in the Midi Version

Photo: @TracyTutor

Originally posted at: Tracy Tutor’s Silver Metal Mesh Dress

Photo: @arianamadix

Originally posted at: Ariana Madix’s Pink Metallic Mini Dress

I have a group of women in my life I refer to as my tribe. Most women, like me, have a group numbering from a select few to dozens, who go by a variety of names – girlfriends, sisters, posse – all representing those with whom we share a connection of some type that makes our life richer, more secure and happier.

My tribe consists of women with whom I am engaged in some significant creative, professional, social or familial relationship that bonds us together.

Reconsider Some Old Friendships

Lately, I’ve been reflecting on the complexion and composition of my tribe, as I’ve noticed it seems to be in flux. Some intimate relationships are drifting away with the passing of time, as friends retire elsewhere or relocate to be closer to adult children and grandchildren, and sadly, some have passed away.

I appreciate those who are lifelong friends, who know my story and have been through the tough stuff with me, but I also recognize a growing need beyond what I share with them.

I discovered over the past few years, there were some long held friendships that no longer seem to fit. Mostly because I have put more energy into being different. My priorities changed, as did my lifestyle and with not much more than memories to hold us together, we drifted apart, and I let it happen. I sincerely miss them, but new interests, goals and perspectives have taken the place of what was once the foundation of our relationship.

Invite New Friends In

The result is a thinning of not only the number but the variety of individuals that make up my tribe and I’m beginning to realize how appropriate and necessary it is to consciously welcome women into my world, my life and my tribe who click with me, intellectually and spiritually, as well as fill my need to be with women who share my professional life, hobbies, leisure activities and satisfy my desire for deep connection. I am looking for women with whom there is a bond of shared experience, desire and motivation.

I am increasingly interested in cultivating a tribe that includes women who are farther along the path of growing into an older woman, who motivate me and support me as I explore new roles for myself. I find I want to add women who stimulate and encourage me as a writer, as a mature woman who prioritizes fitness and health, and in my desire to live an open hearted life that is meaningful, intimate and vulnerable within a select group of women with whom I belong, feel safe and am valued. I’m looking for soulmates with whom I can share it all.

It is also important to me to bring younger women into my life who I can support in their journey and share a little of my own knowledge and experience as a mentor and confidant. But also, who can teach me, coach me and offer me insight into our changing world views.

How Does This Actually Work?

But where do these women come from, and how do I overcome the feeling of awkwardness in recruiting someone when I come across her? Can casual friendships grow deeper with attention and time and can friendships from long ago be rekindled to become relevant in our current setting? These are the questions I find I ponder more and more recently.

Being the analytical Virgo I am, I actually wrote out a list of the types of women I might wish to engage. Not a bad exercise to get some clarity. This is what it looks like.

• Women who are long and treasured friends with whom I share precious memories and who have moved along into this new era with me.
• Women who are comfortable with intimate, candid conversation on the topic of what it means to be an aging woman.
• Younger women who offer a different perspective than my own.
• Women who enjoy the outdoors and getting out into it hiking, kayaking, and exploring.
• Women who cook and want to cook with me, or just talk about food with a sincere passion.
• Women who share my continuing and long reaching exploration of how to live a physically healthy and fit life into our future.
• Women who enjoy creative endeavors and want to delve into writing, music, dance and art together.

Actively Recruiting

If this seems to be shaping up into a help wanted ad, it might be because in a way it is. I have openings in my life for women in all these areas and am actively recruiting, hoping to enrich both our lives through the shared experience.

Living into the future fulfilled and surrounded by women who share my desire to live vibrantly is important to me, but figuring out how to do so isn’t always easy. However, I’m devoted to it and therefore will continue to look for the right path. Perhaps, I will find you along the way.

Let’s Have a Conversation:

Do you have a tribe of women whom you can count on? How long did it take you to build it? What kinds of women are in you women’s circle?

Originally posted at: Jackie Goldschneider’s Tan O Ring Dress

I ran across this quote from the Buddha, and it applies to selling your business. The Buddha said, “Chaos is inherent in all compounded things. Strive on with diligence.”

The Buddha means we need to accept chaos and persevere through effort. And that’s what it takes to sell your business. Accept that chaos will happen and persist in your actions to achieve your goals.

How do you accept chaos and persevere? Like running your business, you need clear goals, a flexible plan to get you to your goals and help from your support team. Let’s look at each of these.

Clear Goals

As you think about selling your business, answer these five questions:

Question 1: Who Are You Selling to?

Who do you want to buy the business? Is it a sale to a family member, team member or an outside third party? Who would best serve your customers and clients?

Question 2: What Are You Selling?

In other words, is it a total sale and you’re done when the sale ends, or does the sale mean you have a reduced role that will go on for several years? What role do you want to play?

Question 3: When Do You Want the Sale to Occur?

Is it this year, in three years, or five years from now? I recently spoke with a business owner that was clear he wanted to be done with his business in three years. This degree of clarity makes it much easier to execute the steps necessary to help him reach his goals.

Question 4: How Much Do You Hope to Obtain from the Sale and How Do You Want the Sale Structured?

Obtain a realistic rough estimate for the value of your business. Later, you can obtain a formal valuation, but a rough estimate of the value is a good place to start.

Most business owners want some cash upfront when the business sale occurs, but buyers want to deposit as little as possible. A buyer wants to reduce her/his risk by making a small downpayment, so you’ll need to be flexible in the terms and conditions of your sale.

Question 5: What’s Next for You?

After the sale ends, what are your personal goals? Will you start another business, travel, pursue hobbies, or something else? This is one area when I sold my business in which I was weak. If I did my business sale over again, I would have put more effort into answering this question.

Transition Plan

After setting your goals, your business exit transition plan has four parts:

Evaluate

Look realistically at your business from the perspective of a potential buyer. What would a buyer see as its strengths, weaknesses, and opportunities? What threats are there to its continued success? It’s difficult to be objective about your business. Here is where a good business exit coach or an accountant who has sold businesses before can help you.

Improve

Take what you learned from the previous step and look to improve your business. Fix things that are important to a buyer. For example, if your revenue is flat, what can you do to increase it and create a picture of a growing business? If your books and records are not up to date, commit to getting organized. If your systems are not running the most recent versions, update them and document the changes.

This step may take some time because some issues will take longer to improve. As you improve your business, focus on the items that matter to a potential buyer. It’s like selling a house: don’t worry about the carpeting in the guest bathroom; focus on the kitchen and master bathroom.

Market

If you’re selling your business yourself, start by looking around at your industry and see what businesses might benefit by adding your business to their operations. Maybe it’s a competitor looking to expand (and eliminate competition).

Or perhaps it’s a business that is complimentary to yours. For example, if you do graphic design, do you know a printer who might like to add your type of service? Or if you own a wedding and event planning business, are there wedding venues that would consider adding your service to their business?

The key to marketing your business is to look at direct competitions and then consider what your customer does just before purchasing your services or products and what they do just after they purchase from you.

To start your marketing efforts, first create a list of potential buyers. Then approach them at industry events or directly and ask them if they’ve considered growing their business. A healthy business is always looking to add customers and clients.

Sell

The fourth step in exiting your business is the formal sale. This step starts with a due diligence review of your business by the buyer and a similar due diligence review of the potential buyer’s business. I can’t stress enough the two-way nature of due diligence.

A professional service woman I know sold her business to a buyer who looked good on paper, but when her clients interacted with the new owner, they were turned off. Another business owner I know sold her software business to a buyer who didn’t continue to serve clients effectively. The business shrank dramatically. She ended up taking back the business because the new buyer couldn’t make the payments he promised.

After due diligence, there are the formal steps in selling a business. For example, drafting agreements, and setting up the sale in the most tax-efficient manner. Here is where you’ll need a good team to support you.

Your Support Team

One of my favorite Oprah Winfrey quotes is “Surround yourself only with people who lift you higher.” This is true in many parts of life, but when selling your business, it’s critical.

When I sold my business, I was fortunate to have the aid and support of my business coach, an experienced business attorney and an accountant who had helped other clients sell their businesses. You’ll need a similar support team.

Summary

When you’re deep in the process of selling your business, you’ll have chaos at the same time as you’re running your business. It’s a lot to manage. When the chaos occurs, The Buddha’s wisdom is key. You can accept the chaos and persevere if your goals are clear, you have a solid transition plan and you surround yourself with a good team. You can do this!

Let’s Have a Conversation:

If you’re thinking about exiting your business, what holds you back from taking the next steps? I’d like to hear from you. Please make a comment below and let me know what’s stopping you. Thank you.