5 Signs Pointing To Business Transition | Episode 117

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Hello and welcome to my world again.

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I'm so delighted that you are here and I have this opportunity to lift as I climb

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as a woman entrepreneur, and share some of my journey, my experiences on the highways

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and the side roads and my getting lost on my entrepreneurial journey in the hopes

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that it will help you have a happy trip.

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On this podcast specifically for women entrepreneurs who have established

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businesses, that means, you're not a startup, you've been at this game for

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a while, you may have a few decades under your belt, or less, you may have

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a Big Payroll, or just you and some contractors, and you may have a great

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love of your business, but now are feeling like you have plateaued, or, as I find

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with more and more of my clients you may perhaps be at that point of, I don't

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love what I do anymore, but I do feel chained to this because I've invested so

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much time, money, and identity in this business, and don't know what to do now.

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In answer to that, I created a program which is called The

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Crossroads Clarity Solution for Established Female Business Owners.

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And that program is available to people who are interested in

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going through the whole program and doing the work and exploring.

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But if you are not sure that you are ready for that, or maybe you just don't

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have the bandwidth for it right now, I thought what I should do is pay it

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forward and share some of this with you.

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I'm going to cover the five modules inside the Program to help you and other

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female entrepreneurs get clarity about why you're not loving the business at

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the moment, and what you can do about it.

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What are the different choices?

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There are at least five, and we will cover those in depth.

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You are not alone in this situation.

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In fact, 42% of all the businesses in the United States are now owned by women.

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That's a number that has been climbing rapidly over the past few

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decades, we control the majority of personal wealth in the economy.

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We also control a huge portion of employment creation, revenue

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within communities, and we have the power to make a difference in

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the lives of so many other people.

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But as they say, with great power comes great responsibility, and you may

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be feeling shouldered right now with more responsibility than is returning

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investment of joy, or financial certainty, or alignment of values.

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And that's what this program is about.

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The Crossroads Clarity Solution is about helping you figure it

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out in an elegant, effective way that won't take a lot of time.

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I'm going to break down the different crossroads that many of us women

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entrepreneurs in our forties, fifties, sixties, seventies beyond are facing.

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And it's one of those spaghetti turnpike roads.

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We're all getting on and getting off at different times.

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The very best we can do on these journeys is avoid collision, fatal

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collision, expensive collisions.

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I will share with you case studies, my own personal experiences through the

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various times of my entrepreneurial business, in the hot seat.

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And the key here is because we are women evolving and becoming the

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next best version of ourselves our businesses need to evolve with us,

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or they need to make some changes.

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I look forward to having you along with me on this ride.

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I'm actually your co pilot.

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I'm here to guide you.

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Reach out to me at hello@theencorecatalyst.com and share

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what your experiences have been on this magical mystery tour of business

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ownership as a woman living through different stages and ages of your life.

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What have you learned?

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What did you wish that you had known earlier and how did you plan the route to

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the next most rewarding part of your life?

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Because in sharing that with each other, we lift as we climb.

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I'm here to share my journey with you and also to share the journey

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and the best travel advice of multiple other women business owners

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who have got some miles on them.

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And I say that in the most favorable possible way.

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When I say we have got a lot of mileage on us, it is not that

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we are worn or tired or used.

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It is that we have traveled a lot in our life, and we have accumulated a

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lot of experience and created a lot of value, especially as entrepreneurs.

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But periodically, it will happen, and it will happen to all of us,

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and will happen more than one time, you come to that place where you

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feel like you are at a crossroads.

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And there are multiple ways you could go, but you feel a little paralyzed

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in making a decision about what is the right, the next best move to make for you.

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And that's why I created a program called The Crossroads Clarity Solution

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for Established Female Business Owners, because like you, I have been doing

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this for decades, and I know there have been many times I've just come

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to a screeching halt, or maybe I edged out into the next part of my journey,

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feeling unsure, unsafe, unprepared.

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So I wanted to make sure that more of us had the support and the safety

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and the confidence and the clarity and the vision to make the next best move.

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So I created this program based on 35 years as an entrepreneur, and another 20

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years running other people's businesses.

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I've seen a lot, maybe I haven't seen it all, but I've seen a lot about where

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we come to these places in our journey that are like maybe we just want to

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idle for a little bit and figure it out.

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Idling.

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It's not about turning off the engine, it's not about being stuck or frozen

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in a place but as we discuss in module number one in the case study, my own

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personal anecdotes and experiences, and the workbook in The Crossroads Clarity

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Solution, there are some darn good reasons why you shouldn't rush into

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making a big decision, a big change.

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I wanna talk through those with you and what are the reasons why maybe

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it isn't the right time to gun the accelerator and do something different.

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Some of the factors that I, I talk about, and I talk about this with clients of

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my own who are in a place of, they don't really like where they're at right now.

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They know there's something more, something bigger, something different

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that they want in their life, but they haven't got it all sorted out yet.

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And that's what I do.

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I work with them to figure that out by assessing where they are now and where

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they want to go, what we have to build on, what we should retain and go forward and

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the who's that should go forward with us.

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I talk about that a lot in the program, and provide you some great

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exercises to think through because, it's tough sometimes to extricate

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yourself from the situation and the business because you're busy being

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busy and doing instead of being.

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And that's what I want to help you with.

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What are the things that you need to reflect on and look at objectively,

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less emotionally, before you make a decision to move forward.

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Always at the top of the list for the women of my era and

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yours is why do we matter?

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What are we doing this for?

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Who are we doing it for?

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Where are we in that matter and

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Who else do we care about?

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Who are we setting an example for?

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Who are we responsible for?

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And how do we do that in the most healthy, positive way?

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These are some of the things we're going to cover.

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But there's also this amazing opportunity as a woman entrepreneur

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with some significant experience in her life and as a business

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owner is to look forward to growth.

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Sometimes that growth is with the business that we have, and sometimes

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that growth is with other opportunities, whether they be in business or they

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be in a completely different vein.

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In each of these modules in the program, you'll see a little bit of yourself, and

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a little bit of your journey, and from staying buckled in, and going through the

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entire program, I hope that's going to open up, maybe Clean your windshield,

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as I like to say, so that you have a different perspective and a clearer vision

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for what you want next in your life.

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I don't want anybody to speed through making such an important choice because,

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You change and grow as you evolve, in this moment, making this decision in

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your business and how it impacts your personal life, this transformational

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decision, whether you maintain this status quo, or whether you close up your

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business, or whether you scale, and Go Big or Go Home, or Just Go Bigger or

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whether you decide to sell your business.

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I can tell you by the end of the podcast and the program, I believe that you

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will have acquired some information and some resources that will help you decide

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on what is the next best move for you.

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Module 2 of the program for established female entrepreneurs who are maybe

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sitting at the traffic lights of life and business, going, " Which way should I go?"

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And I have sat at that intersection many times in my life, that's why

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I am so committed, so dedicated to sharing this podcast with

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you and this program with you.

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Because as a woman, a business owner, a mother and a grandmother, and a

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friend and an entrepreneur, and a mastermind partner, and a coach and all

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of the other aspects of me, the most empowering thing for me is knowing that

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in being conscious of the company that I keep and the wisdom I absorb and the

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benefits of collective wisdom that I want to share and give back to you too.

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Module number two it's about embracing change, as they all are, but navigating

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the decision to quit your business.

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This is probably the most emotional and certainly was the hardest one for me to

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think about in terms of my preparation for the program and how I could sensitively,

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positively impart wisdom and Share tools and resources with all of you.

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Making a decision to quit isn't instinctive for us as women.

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We're mothers, we're creators, we're entrepreneurs, we are caregivers.

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We just don't quit.

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We just don't give up.

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It's not in our nature, so we are told or have been programmed to put everybody

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first, make sure everybody's safe.

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We are now learning, we're becoming more aware that if we don't put the

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oxygen mask on us first, we don't have the capacity to support and

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help other people and move forward.

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And so with that, I welcome you to come on this journey with me to

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explore when is it the right time to quit, to close your business.

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What are the right reasons?

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What are the best reasons for you and the outcome that you desire?

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And how does that exponentially benefit you and the people you care about?

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I talk about the issues that we as women entrepreneurs face all the time.

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I can't quit because everybody's depending on me.

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I can't quit because I don't want to as a failure.

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It's the imposter syndrome.

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It's all of those things.

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It's the issues around I don't know what I'm going to do next.

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I don't know how I'm going to support myself.

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We talk in the program and in my coaching about being so tightly bound to sunk

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costs, money that is already spent, which is learning to come to grips with that and

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deciding on really holding onto the past, expecting to change for a more positive

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outcome and feeling and results in the future, requires us to make some changes.

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We talk about choices and chances and change and how that's scary.

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When we finally see why making that scary change, why choosing that as less of a

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chance, but that it is a very purposeful trip plan leading to the destination

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that is really good for your future.

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The term exit, strategic planning, bankruptcy, closure, shuttering,

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they all conjure up all these kinds of emotions for us, right?

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But it truly shouldn't be any different than the beginning process, the same

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steps as when you started your business.

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I'll walk you through the logic around that.

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Like a beginning, there should be a planned exit, and how do you

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recognize the signs, the signposts, the cues, the clues, that's the

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right exit ramp for you at this time.

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It may not be your exit, but what I do encourage you is to stay with us,

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and learn more about the other choices and decide then which one is right

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for you at this stage and this age.

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This could be tempting and seductive because it's so easy

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to say, yes, go big or go home.

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Yes.

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I want a bigger business.

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I'm going to scale up because that's what I'm supposed to do.

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It's a success marker.

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Company's bigger.

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My friends are doing it.

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The people on Instagram are doing it.

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The people in the success magazine are doing it.

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After all, if I'm really a good business owner, that's the trajectory, that's

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the next move I'm supposed to make.

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And I don't want to discourage you from thinking about that, strategizing

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it, and creating a plan around it.

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But I do want to caution you that scaling isn't right for everybody all the time.

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I am all about women entrepreneurs growing and being more successful and

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having greater impact and influence.

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Absolutely.

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It's one of the tenets of Lift As You Climb, because the better we

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become, the greater we are ourselves in our ability and our resources,

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the more we have to give to others, the more we climb, we can reach back

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and lift others or empower others.

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So it is really a big deal for me to succeed, to grow, to expand, to push

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the limits, to raise the ceiling, and to create more opportunities for other.

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However, the decision to do that requires very thoughtful consideration

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and planning, and that is why I created a module that addresses the emotional

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and relationship commitments, decisions around making that next move to scale up.

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I hope that you will decide to join the Crossroads Solutions program and, listen

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to my stories and examples about scalable moments when it was good and successful

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for me and when it wasn't, when I went right off the side of the mountain.

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And also to read the case study of someone else who went on this journey and through

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this process of scaling their business.

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And then, do the work yourself.

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be honest and answer the questions in the workbook about

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is this your next best move.

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Scaling a business has got a lot of very positive attributes in terms of

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creating opportunities for others, more financial freedom for yourself,

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more personal growth and development, more opportunities for you to expand

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your skill and your strengths.

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And the other side of that comes from making choices on what on the balance

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scale or the teeter totter, as I describe in Lift As You Climb has to go down, so

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the scale of your business can go up, I can help you with very good examples of

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how to make those decisions and maintain balance that works, not the unattainable

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work life balance as an equilibrium, but the blend of work, business, life, future.

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It's an integration and making choices purposefully at the moment.

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There's just so many opportunities and so much demand in the world.

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I do hope that in some way, whether it's this business or another

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business or in another capacity, that you increase your influence

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and your contribution to the world.

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But before you make that decision to scale up your existing business, please, join

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me and learn about the journey that I share in the Crossroads Clarity Solution.

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For those of us who have a business that we've been operating,

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growing, building, nurturing, cultivating, creating for years, decades, for some

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of us, why is it really important to recognize that change will come and how

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to be prepared to make a decision on what is the best next move for your business.

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That was the introduction to this series about navigating business

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crossroads and knowing which way to turn.

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Understanding that it's different for us all at the different stages

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and ages and priorities of our life.

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This one is an entirely different and it's a more complex conversation.

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It's about the decision to sell your business.

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And that was the reason we all started in business, right?

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Here is the interesting fact.

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In my own survey of many clients, my peers in my mastermind groups, my own

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coaching and in networking it seems that when we start our business, very few,

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almost none of us are thinking about when we're going to end our business.

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So whether that means closing the business, quitting as we talk about

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in Module 2, or selling it, very few of us are conducting ourselves

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and moving forward on our journey with that destination in mind.

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And that's unfortunate.

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And if I can help you now start thinking differently about that, then I

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feel I have done a very good deed for womanity, for female entrepreneurship.

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Because as we create a business and we build such a beautiful thing, we should

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be thinking about the day that we sell it and be rewarded for what we have

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created and be able to pass it along to someone else to continue that legacy.

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We shouldn't be grinding it out for decades, to make enough to live on

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and then not getting any ROI from all of that time, wisdom, creativity.

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And that's a big shift in thinking I find for most women entrepreneurs.

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In fairness, I think it's because we weren't really thinking about

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ourselves as legacy business owners.

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Until just a few decades ago, up until a few years ago, most of us were

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thinking that we were either going to be nurturers of families and young

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people and supporters in relationships, or we were going to be in a career.

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And when we began not too many decades back to become entrepreneurs, we

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didn't have a lot of role models.

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We didn't have a manual that said begin with the end in mind, even

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though that is the logical thing to do.

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Module number four of the Crossroads Clarity Solution really dives in deep

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to that transformational thinking about why is it the right decision

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to sell your business, and what are the things you need to do to prepare

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not only the business for maximum value, but prepare you emotionally,

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strategically, for that decision.

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Because selling your baby will cause you a lot of emotional growth.

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And I know.

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I did it and I wasn't prepared.

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No one prepared me for it.

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No one shared with me what I am going to share with you inside this program.

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So hopefully you are one of the people that are ready to receive

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a return on your investment and I have some things that will help you

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maximize that positive experience.

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We talk about the power of transforming your relationship with your business.

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This has been such a good road trip with you and I am delighted to be a guide

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and co pilot with you on this journey through navigating business crossroads

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and helping you look at things with a different perspective, whether that's

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through the windshield in front, the side mirrors or the rear view mirror, and get

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the wisdom out of all that experience.

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We're going to talk about transforming your role with your business.

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in fact, transformation is, the root of all the other crossroad solutions.

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transforming how we feel about ourselves and how we feel about ourselves impacts

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the decision we make with our business.

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specifically, I want to talk to you about your thoughts about being the

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operator of your business versus the visionary leader; how those different

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perspectives transform you, but also yield the results and Whether those rewards

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for you are emotional, or financial, or evolutionary, it all does come down to

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how you view yourself in the capacity of the founder, manager, and leader of the

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business, who is ultimately transforming into the chief shareholder, the chief

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investor of the company, and making decisions from that perspective instead

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of the got a grip on every activity and thought and action in the business.

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I speak from experience on this.

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until I had a coach who helped me loosen up my grip on being the

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helicopter business owner with my team, my business was, at a ceiling.

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Once I learned to step back, think much more strategically empower a team and

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be open to coaching and the collective wisdom of mentoring in a peer group.

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Talk about adding some jet fuel additives in my tank.

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Transforming how you think about your role as a business owner essential.

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Transforming your role with who you are in your life with all relationships

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is also a part of what we address in Module 5 in the Crossroads Clarity

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Solution because it's not how things get done in your life, it's who you

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choose to be on the team to do that.

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But even more important, it's why you are making those choices.

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that's a wholly exciting and terrifying conversation.

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the opportunity is, the caterpillar and the butterfly, it can be extremely

Isabel: 00:31:39

ugly and uncomfortable in those transformational periods, but when

Isabel: 00:31:45

you make the right choice and come out of that period, your wings are open.

Isabel: 00:31:53

It's such a beautiful feeling.

Isabel: 00:31:56

there are some things I want to talk to you about like how You have evolved

Isabel: 00:32:02

over time and how those changes are impacting where you are right now

Isabel: 00:32:09

and how you use those to leverage where you're going in your future.

Isabel: 00:32:15

This is a version of lifting yourself as you climb.

Isabel: 00:32:20

It's one of my favorite parts of growing myself and working with my clients.

Isabel: 00:32:25

It's figuring out that transformation model.

Isabel: 00:32:30

, in this program, we're talking about how you transform the way you think about

Isabel: 00:32:34

yourself as the leader, the founder, and the chief shareholder of your business.

Isabel: 00:32:40

Please take your time to really absorb the case study and then the journal

Isabel: 00:32:47

prompts and give some thought to it.