Creating Real Business Value to Emerge Exit Ready

In this episode of The Faces of Business, Patty Block, Founder and President, The Block Group Inc., delves into the pivotal subject of creating tangible business value for an elegant, strategic exit.

In this episode of The Faces of Business, Patty Block, Founder and President, The Block Group Inc., delves into the pivotal subject of creating tangible business value for an elegant, strategic exit.

Patty, a prominent business advisor, and business exit preparation expert is renowned for her mission to empower women business owners in shaping a more profitable future for their enterprises.

Patty’s approach, honed since 2006, focuses on assisting female entrepreneurs, especially those leading 7-figure businesses, in scaling their revenue for strategic growth and exit success.

Download our free business valuation guide here to understand more about business valuations and view our business valuation FAQs to answer the most common valuation questions.

She emphasizes the importance of freedom, flexibility, and flow in business, ensuring owners can make independent choices, rely on their teams, and enhance their business’s value.

Her best-selling book, “Your Hidden Advantage: Unlock the Power to Attract Right-fit Clients and Boost Your Revenue,” has been a game-changer, providing new perspectives and practical solutions for businesswomen to operate with increased confidence, profit, and joy.

Damon is “elated” and “ecstatic” to start the Livestream with Patty. He requests the guest to talk about her background and the journey that led her to exit planning guidance.

Do you want to know if your business is ready for your exit or what you should do to prepare? Learn this and more with our business exit assessment here.

Patty discloses that she was a political consultant and lobbyist but faced an unexpected divorce when her business was thriving. At thirty-five years of age, with three young kids, she learned the need to stabilize her life, leading her to close her company rather than consider its sale. Reflecting on this experience, Patty discusses a common issue—many business owners, especially women, fail to recognize the value they’ve built and the potential to sell.

Similarly, she helps women entrepreneurs understand the value they’ve created.

Damon wants to know whether Patty initially started with the intention of assisting women business owners in building value or if her focus evolved.

Get the most value for your business by understanding the process and preparing for the sale with information here on our Selling a Business page.

Patty explains that she initially started by helping women increase revenue with less stress, primarily focusing on pricing strategies. She introduces the concept of the “Broken Cookie Effect,” drawing on a childhood memory of her mother sacrificing whole cookies for broken ones.

Patty describes how this pattern, rooted in self-sacrifice, translates into undervaluing services and over-delivering, ultimately hindering profitability.

Over time, she developed the “Snap System,” a framework within her book “Your Hidden Advantage,” inspired by her mom’s legacy of spreading love and kindness.

Patty details the Snap System’s principles:
· Stop believing myths
· Narrow your focus
· Assess your value (especially in pricing)
· Practice your power (effective communication)

She shares the emotional story of her mom’s involvement in Burning Man, where she distributed gingersnap cookies as a symbol of love and multiplication.

Damon inquires whether Patty was surprised that there wasn’t already a significant presence of individuals or resources dedicated to guiding women business owners through the exit process.

Patty responds to Damon, expressing a slight surprise but not complete shock at the lack of existing support for women business owners in the exit planning space. Patty points out that while there are many exit planners, a majority are male. She believes that women have unique perspectives and approaches to business, such as how women think, their fears, behaviors, and decision-making processes.

Damon invites Patty to discuss the challenges she has observed when clients attempt to use Value Builder and Certified Exit Planners.

Patty says that such frameworks often neglect the human and emotional aspects of business owners. She notes that people are not just numbers but individuals with emotions, fears, and conflicting sentiments. Patty suggests that fitting an exit into a cookie-cutter process is unlikely to work, especially for women. She enjoys serving clients and helping them achieve what she calls an “Elegant Exit.”

Damon appreciates Patty’s approach to working with clients for an extended period, witnessing the growth of value and the life-changing impact of successful exits.

Patty further reveals that as clients’ businesses grow, she focuses on enhancing their communication skills, messaging, and business positioning. There is a need for a different approach, skill set, and framework, offering her Elegant Exit framework to guide clients in various directions based on their goals. Furthermore, her approach is highly customizable and individualized, recognizing that every business owner is unique.

Damon reflects on the essence of a successful exit, advocating creating a meaningful business legacy. He shares a recent conversation with a client planning for the future, considering factors like employee well-being and potential buyers to maintain local ownership.

Patty asserts that business owners rely on experts like herself and Damon to guide them through unfamiliar territory, offering information and developing the necessary skills for a successful exit. She advocates for deep conversations to understand the business owner’s desires, motivations, and timelines, aiming to create a smoother and less stressful exit experience.

Damon then asks Patty to elaborate on the skills she helps people transition from and towards a successful exit.
Patty discusses a crucial skill that many successful women business owners possess—expertise in their field, often being the smartest person in the room within their domain. She points out that letting go of the identity tied to being the boss or the glue holding everything together can be challenging. She challenges the notion of retirement for women business owners, emphasizing the enduring purpose that often persists beyond selling a company.

Likewise, Patty introduces the skill of intuition, which she believes is essential during the exit process but is often undervalued or even discouraged by traditional exit planners. She argues against the common practice of suppressing intuitive strengths in corporate environments and encourages women to recognize and trust their intuition during the exit. Patty suggests that honing this skill helps in identifying alignment with potential buyers and understanding their values and principles. Patty also taps the presence of self-doubt and “head trash” that can hinder progress.

Patty relates working with clients over an extended period before a transaction, allowing her to know them well and serve as their advocate. She considered from every angle how the exit impacts the business owner’s life and their ability to build wealth, going beyond just the financial aspects of the transaction.
Damon strongly agrees with Patty.

As the show reaches its conclusion, the guest discusses the unpredictability of deals falling apart and shares her experience with clients changing their minds about exiting after seeing improvements in their business. She mentions a statistic indicating that only 30% of small businesses successfully sell, with a small fraction of that percentage being women-owned businesses.

Damon appreciates Patty’s eloquent explanation and thanks her for her valuable time. This marks the end of today’s show.

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ABOUT EXIT YOUR WAY®

Exit Your Way® provides a structured process and skilled resources to grow business value and allow business owners to leave with 2X+ more money when they are ready.

You can find more information about the Exit Your Way® process and our team on our website.

You can contact us by phone:  822-BIZ-EXIT (249-3948)   Or by Email:  info@exityourway.us

Find us on LinkedIn:  Damon PistulkaAndrew Cross

Find our Companies on LinkedIn: Exit Your Way®,  Cross Northwest Mergers & Acquisitions, Bowman digital Media 

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Other websites to check out:  Cross Northwest Mergers & AcquisitionsDamon PistulkaIra BowmanService Professionals Network (SPN)Fangled TechnologiesB2B TailDenver Consulting FirmWarren ResearchStellar Insight, Now CFO, Excel Management Systems  & Project Help You Grow

42:13
SUMMARY KEYWORDS
exit, business, people, talk, women, business owner, clients, company, sell, patti, intuition, years, mom, transaction, cookies, numbers, helping, women business owners, advocating, today
SPEAKERS
Damon Pistulka, Patty Block

Damon Pistulka 00:02
All right, everyone, welcome once again to the faces of business. I am your host, Damon Pistulka. And I am not only excited, I am a lated, I am ecstatic to be talking today with none other than Patti block from the block group. We’re gonna be talking today about creating real business value to emerge. Exit ready. Patti, thanks so much for being here today.

Patty Block 00:28
Thank you for having me, I’m glad to be here.

Damon Pistulka 00:31
Oh, so just it’s going to be I feel that if people are really thinking about what their business exit looks like, they should just sit back today. And, you know, just relax and listen, because I love talking to you about this subject. And, and you’re so skilled at it. So Patti, we always like to start the show off with learning a little bit more about you and how you got into what you’re doing today.

Patty Block 01:03
It’s a little bit of a sad story, but with a happy ending. And that is that many years ago, I had a business as a political consultant, and a lobbyist. I loved it, it was fascinating. And I’d never do it again. However, all of a sudden, I was 35 years old, had a threat really thriving business, three little kids at home, and a surprise divorce. And realize very quickly, that I needed to stop traveling, which was required of the lobbying. And I needed to stabilize things for my kids at that time. My youngest was about two, and he just turned 31. So I have raised my three children on my own. And there are now all three business owners. So we help each other with our businesses, which I think is very cool. And what I realized when I had this surprise divorce was that I needed to close my company. Now I had built it over eight years, it never once occurred to me that I could sell it, or that I had built something of value. And I think that’s a crime. And I see that a lot with the people that I work with, I work only with women business owners. But what we’re going to talk about today applies whether you’re male or female, about building value. But one of the challenges for women is that we’re not thinking about how we can exit, when we want to exit all the steps that it takes to get there. And whether or not we want to sell our company and position it for sale. And as I mentioned, for me, It’s so disappointing to look back and realize that never occurred to me that I could sell my company. So I just closed the doors and gave up all that value. And that’s one of the reasons I’m so passionate about helping other women understand the kind of value they’ve built and deal with those mindset blocks that keep that value locked up in your business.

Damon Pistulka 03:20
So cool. So cool. I just love hearing about it. Your story is as challenging as it was you’ve you’ve turned it into something that’s really helping a lot of people. And that’s super incredible. Cool. So you, you started off, did you when you started, where are you intending on starting? Right from the beginning, I want to help help women business owners build value in their business? Is that what you started off with? Or were there other things that you started in this evolved over time?

Patty Block 03:52
Yeah, that’s a great question. The way I started was by helping women generate more revenue with less stress. And that starts with pricing. And I’ll share with you that there is a concept. I kept seeing this pattern over and over with all the women I was working with. And even the women I was talking to out in the community who weren’t my clients, but I kept seeing the same pattern over and over. When I was growing up, my mom made these fabulous cookies. The whole house smelled good. It was warm, the cookies were gooey. And all my life. I watched my mom eat the broken cookies. But it wasn’t until I was a teenager that I even thought to ask her. Why do you only eat the broken cookies? Do they taste better? And she laughed and said no, I eat the broken cookies so you can have the whole ones. And that memory came rushing back to me several years ago, when I was struggling to put words around that tricky pattern that I had seen over and over. And I realized, as women, we are following our role models, our moms and our grandmothers who brought that spirit of self sacrifice into everything they did. And we bring that into our businesses. So that’s what I call the broken cookie effect. We make sure that everyone around us gets the whole cookie, and we live on crumbs. And the way I saw it manifesting first is in pricing. Because we undervalue ourselves, we underpriced our services, and then we over deliver, which kills our profit. And it’s hard to keep up, right, because you’re doing so much more work that you’re not really being compensated for. And that is a recipe, pun intended for being very stuck in your business and having those revenue ups and downs and not being able to move forward. And to have your company grow the way you want it to. So that’s actually where I started in helping clients was how to generate more revenue with less stress. Yeah, eventually, eventually wrote a book called your advantage. And that is the concept. The Broken cookie effect is the framework inside the book. And I teach a system called the snap system based on a play on words for ginger snap. And which, by the way, was my mom’s nickname, because in 2014, my mom went to Burning Man. And if you’re familiar with Burning Man, it is a giant art festival in the middle of the Nevada desert, that’s about a year. And my sister has been a what they call a burner for many, many years. And my dad had passed away in 2013. And I know my mom was feeling pretty lost. They were married for 56 years. So my sister suggested that she go with her to Burning Man, and there on the playa, one of the things that you do is you give gifts to everyone that you meet at Burning Man. And it’s, you don’t expect anything in return. And there’s no money that exchanges hands at Burning Man. So because of that, out on the playa at Burning Man, my mom was handing out gingersnap cookies, and a card that says the only thing that multiplies when you divide it is love. And that was her gift to everyone. Now, I also have to share that my mom passed away very suddenly, about a year ago. So even talking about this is very emotional for me. It’s her a great deal. But it’s also very heartening to me to be able to talk about my mom’s legacy, which was about spreading love, and kindness, and tolerance. And in many ways, my book is a tribute to my mom. And they concept of the snap system, which is based on the idea of the ginger snap is S for stop believing the myths. And for narrow your focus, A for Assess your value, which has a lot to do with pricing. And P is practice your power, which is all about communication, and communicating effectively and powerfully. And in many ways, your hidden advantage is a very strong case for making sure that you have these techniques, and you can express exactly the message you’re trying to get across and have people receive that and be able to do something with it. I mean, that’s in everybody’s message, right? Yeah. So that is that’s where women often struggle. We can do the pricing, we can attract, right fit buyers, we can get all the pieces in place. But if you can’t convey the value to your potential clients, they’re never going to know about you. So that was a big part of how I got started is bringing my passion around communication and around generating more revenue. Because wealth in the hands of women, in my opinion, elevate society as a whole. So you’re right. It did evolve over time as I started helping more and more women who had grown to a certain size, usually seven figures and we’re are starting to question what happens five years from now 10 years from now. And that evolved, and my business evolved to realize there was such a hole in the market that no one was advocating, especially for these women business owners, who have this unique expertise. And I wasn’t finding anyone who was advocating for them to build wealth by positioning and selling their company.

Damon Pistulka 10:32
Yeah. That’s so cool. Any, you know, all the way from the back from how you got into it to your mother and and the behind that and how you use that, to really develop your system that helps people communicate their value to their best customers, and then build those, those very valuable businesses and exit them when they’re ready. What? So as you’re, as you’re coming to this point to this realization that hey, did it that no one’s out there to help? Were you surprised that there wasn’t somebody that was already doing this, or a lot of people that are already helping them? Helping Women Business Owners, you know, think about their exit, go through it like they want?

Patty Block 11:24
I was a little surprised, but not really, because it’s an underserved market. And as women, often we are not raised to be breadwinners, I wasn’t. And were not raised to think that we could build a company that we could one day sell. And that works against us. Because if we’re not even thinking about it, then how could we possibly make it happen? Yeah. So yes, I was a little bit surprised. Now, you and I both know that there’s lots of people out there who call themselves exit planners, and most of them are male. And nothing against guys. And I’ve raised two of my kids are our sons and a daughter. And but women think differently. And we approach business somewhat differently than most guys do. So understanding how women think, and what we fear, and how we behave, and how we make decisions. All of those things have a unique approach. And that’s part of what I bring. So I’m, I wouldn’t say I’m surprised that there aren’t more people advocating for women business owners, I’m disappointed. Yeah, yeah.

Damon Pistulka 12:52
Yep. So you brought it up a little bit. There are a lot of exit planners out there. I mean, you can just name there’s some big, you know, he talks about there’s like value builder, and there’s the SEPA exit planner, certified exit planner, people. You know, each each of these things they have practice, they, you know, there’s a structure around what they do, it’s pretty much lead people through this process. What are some of the the real challenges you’ve seen, when you talk to clients that have tried to use those things? Those processes like that?

Patty Block 13:37
You know, people are not numbers. People are humans. And we have emotions and fears and frustrations, and trying to fit in a cookie cutter process. Again, pun intended. It really doesn’t work. Now, I will say there are certainly companies that have gone through those processes and worked with those exit planners, and had successful outcomes. For my clients, that would not work. Because it’s not all about the numbers. When I’m advocating for my clients, it’s about what do you want your life to look like? before, during and after your exit. The numbers are important, and we’ll get to those numbers. But it’s much more about you’re building your life around what you want to do. And sometimes we’re not clear on what we really want. We think we want to sell our company but then we have a terrible time letting go. So there’s a lot of conflicting emotions and people are messy. That’s just the nature of who we are. So trying to To fit your exit into a cookie cutter process is unlikely to work for you, especially if you’re a woman. And when I use the word advocate, I’m not using that word lightly. I’m not. You know, everyone says every advisor says, I will advocate for you, and so on and so forth. But a lot of people, especially if they are taking a commission on the sale, or an equity stake in the sale, it is very difficult for them to be objective. And so, I decided, from the very beginning, I am charging a consulting fee, I work with my clients for a very long time, usually between three and 10 years, I will help them prepare for their exit, I will help them build their company and make sure they’re building real business assets. Because a lot of people think your revenue marks are the value drivers. They are one value driver, but there are so many more. And so if you want to build wealth with your company, then you really do need to develop those business assets, and be able to talk about them and build that value and position your company so that a potential buyer understands the value. Right? All of that involves numbers. But we’ll get to that. What we have to start with is the emotional part. When you’re transitioning your company, you actually transitioning a part of your identity. And I’m not exaggerating when I say that. And I know that’s true for me personally, I am very wrapped up in my business. And I get a tremendous amount of joy from my business. So what you said a few minutes ago, Damon about that we’re so fortunate that we get to serve in this way. I do feel that way. And I take such joy in helping my clients and seeing their success and achieving what I call an elegant exit.

Damon Pistulka 17:16
Yeah, yeah. Wow. I just I love listening to you talk about this, because it’s like music, it’s like the choir is the skies are opening up, the sun is shining, the choir is singing to me, because, you know, you’re really helping these people do what I believe that we all got into business to do and that’s to create a better life. And it looks different, what that better life, it looks different for each person. And really, you’re helping them get to the point where they want to go not forcing them into a mold or into a certain direction. And really allowing them to, as you said, enjoy it and experience their business the way they want and create the value. So yeah,

Patty Block 18:10
one thing, one thing I’ll add is in a corporate setting, in a large corporation, succession planning is required. And if the business changes hands, there is a corporate strategy for that. I work with small businesses. And so do you did. So for small businesses, using a corporate approach, in my opinion, really doesn’t work. It doesn’t work in building your company. And it doesn’t work in exiting your company. And but that’s all we know, because most of us have come out of a corporate career. And because of that I see people, especially women trying to apply that model. And I do talk about that in my book as well, that the corporate model never worked for women. And I would say it doesn’t work today, for women. That’s why so many people are leaving corporate and starting their own businesses and building their businesses and finding ways to develop their life in a different way. So if applying the corporate model, in building your business is not effective. Why would you think that would be effective in exiting your business. And yet, a lot of people fall into that trap. And again, that cookie cutter process of thinking that this is just a numbers thing, and it’s a transaction. It does involve numbers. It is a transaction at some point. But that’s not what an exit is all about. From my perspective. Yeah,

Damon Pistulka 19:57
you’re 100% there because I’ve always said and I always in, when you’re trying to sell a business, the numbers really only justify the price. That’s, that’s the biggest thing you’re going to do is justify how much we’re going to pay for it. They’re sold on the heart and soul of what’s happening in that business, the people in the business, how they’re, you know, the services or products they have, how well people receive them how good they’re delivering those products or services to people and, and really, the culture is, is so big, anymore that the numbers, they establish a price, but they don’t sell a business. And they don’t really don’t create a value because without the attractiveness, this is the other thing is, it doesn’t matter if you’ve got a billion dollar business that nobody wants to buy it, it’s worse, absolutely zero. And you can take out of it as it’s running. Right, and it’s right. And in the exit, I think it’s people putting their touch on the business, they’re human nature, just making the business as human is, is so important. Because the next owners probably don’t want to buy a cookie cutter business, they want to buy something that’s different, and has a unique feel to it, and unique market feel, and all those things. And I just, I love what you’re saying. Because it is it is such a special thing for someone to be able to build that value over a long period of time. And you’re with them, you said like three to 10 years, and that’s his special to be there with them and watch that value grow. And then when they successfully exit, and it changes their life in the way that they hoped it would. It’s gotta gotta make you happy when you when you have clients that do that.

Patty Block 22:10
Absolutely. And what also happens is as their company grows, and we work on their communication skills, the messaging, the positioning of their business, and of course positioning, to sell your services is different than positioning to sell your company. So the skills that brought you here to a very successful business won’t get you through an exit. And that’s something that a lot of business owners don’t recognize. And it catches them by surprise. Yes. So it really takes a different approach and a different skill set. And in my opinion, a different framework, which is what I do with the elegant exit is provide a framework, so that there is a there are several different directions in which they can move. And they will make a decision based on what it is they want to achieve. And you know, some people care a lot about getting at the most amount of money when they sell their business, because they see that as their retirement plan. But I’ve worked with lots of women who care less about that, that but they care a great deal about protecting their employees and their clients. So we have to figure out what is most important to the business owner? And what do they want to achieve? And how do they want to achieve that? What type of buyer are they interested in? So there’s just so many elements to that it’s very customized, very individualized, because every business owner is different.

Damon Pistulka 24:00
It’s gonna let that soak in for a second for people to listen to it. And think about it because that is the essence of really a really successful exit is you do it the way you want and you create that business legacy. And that legacy includes what’s going to happen after how are the employees you know, what’s going to happen with them how much money the whole nine yards and we had this very conversation, very same conversation last week with one of our clients. It’s like okay, what is this look like? And we’re not talking about this year, we’re talking about 2026 2027 Something like that. We’re like, Okay, we’re gonna do this we’re gonna do this gonna do that and, and we’re looking at these are the kinds of buyers that we want because of the legacy wants to keep the ownership in the in the region if we can to really do it also. looking at maybe having an ESOP to where the the employees actually own the company. And it is, like, like we were talking before we got on, it’s so special to be able to help somebody see their business grow through these, these levels like this, the opportunities that it creates for the people working for that are working there. And then to see them realize that when they when they’re finally do exit,

Patty Block 25:29
yes, and that they have options, there are several ways that you can do employee ownership, and But how on earth would a business owner know anything about that? Right. So that’s why they would count on someone like you or me to provide that information, and to help them develop the skills that they need to get through an exit, to be able to let go, and not to have, you know, one of the things I talk a lot about is, you’re already dealing with so much stress as a business owner. And a lot of things coming at you. And as women, we’re always juggling a million things, kids and grandkids and all kinds of family issues and health issues, and you name it. So we already have all this stuff coming at us, and it’s stressful. So I don’t want there to be more stress, when you’re going through your exit, we need to find ways to reduce your stress and make it as smooth as possible. And the best way I have found to do that is very, really having deep conversations with the business owner in terms of what you want, why you want it. And when you want it.

Damon Pistulka 26:56
That’s so key. I just want to say real quick, we have anchor here was listening. Thanks so much for being here. And and appreciate that thanks for commenting, and that you are bringing up a few things that I think we we really should dive into a little bit deeper. And that is, you said the skills that brought you here are not the stessa saralee, that skills are going to help you to successfully exit what are some of those things that you see that you help people move from and to, so they can successfully exit

Patty Block 27:38
one of the skills that you have honed as an expert, and that that’s who I work with is women business owners that are experts. So a lot of accountants, attorneys, engineers, and they have honed those skills to provide their expertise. So sometimes we fall into the trap of thinking were the smartest person in the room. And in sometimes we are the smartest person in the room, especially when it comes to our expertise. The problem is, if you have that sense of ego, going into your exit, it is going to make your journey very painful. And remember a few minutes ago I mentioned about you’re transitioning a part of your identity. And that’s one of the biggest challenges. So it makes it so hard to let go of your business of needing to be needed of being the boss of being the center. Right, you may be the glue that holds everybody together, you probably are. And that is really hard to let go of. Now I believe that women don’t retire. And that has been true for the women I’ve worked with. For a lot of my colleagues, it’s true for me. I don’t have any interest in retiring. And part of that is because I built my company, because I have a purpose. And that purpose isn’t going to go away if I sell my company. And that’s true for my clients. So that’s probably one of the biggest challenges is letting go of your ego to understand that you don’t know how to exit a business. Nobody does until you’ve either done it, or you’ve helped somebody else do it or you’ve honed the skills to do so. One of the skills that you need is intuition. Right now, this is completely counter to what most exit planners will tell you. They would tell you leave your intuition at the door and let’s focus on the numbers. And that’s where I get frustrated. Because in a business setting, and if you’ve been in a corporate environment, you’ve experienced this yourself as people, but certainly as women, we are actively Taught to Suppress our strengths, of being perceptive, intuitive, really tuning into others, and then tuning in and trusting ourselves, that is actively suppressed when you’re in a corporate environment. So then when you come into your own company, and you’re building that, you have in your mind that you’re supposed to leave your intuition at the door. And yet, it’s one of our greatest strengths. So that is one of the skills that you can actively develop and use. As you’re going through your exit, you will know if you pay attention, you will start to recognize when a buyer is aligned with you, and with your company and your staff, and your principles and your values, or not. If you’re only looking at the numbers, you’ll miss that. And that is one of the skills that needs to be honed. And we need to build your confidence around trusting your intuition. Sometimes women have done that as they’ve built their companies. And that is great, because then you’re really well positioned to go into your exit stage. But many women have not. Would we question we doubt ourselves and what we’re thinking and our decision making ability and just lots of doubts, and what I call head trash, that that really keeps us stuck.

Damon Pistulka 32:05
So cool. So great, because you can, like you said, in there, they should trust their intuition a bit more, especially in the in the sale of a company, because you can tell if it’s going to be good or bad by the time you’ve been around those people long enough to really get through the diligence process.

Patty Block 32:29
Yeah, well, that’s true. And also, because I work with my clients for years before we get to a transaction, because we’re building that value. And that takes time. I know my client extremely well. And I am their advocate. So I can not only warn them of pitfalls, but I’m using my intuition to guide them because I know them so well. And I know what’s important to them. So that is a huge challenge, when you’re dealing with someone who’s very focused on the transaction is they’re not going to tune into or it’s very rare that they’re going to tune in to you as a person and recognize some of what you’re dealing with internally. And I don’t miss that I’m paying careful attention. Because I think that’s so important. It’s not about how much money are you going to get? It’s about how are you going to pivot your life? And then are you going to be able to build wealth?

Damon Pistulka 33:43
You make a great point. And as I was hearing you talk about it, I think about the traditional business brokerage investment banking model. And it 100% leaves intuition at the door, because it’s just trying to get it, you know, just trying to get that transaction done.

Patty Block 34:03
Exactly. But also think about, they have a vested interest in getting the transaction done, and they’re usually earning a commission. So fast is better than good. Yeah. Right. And it’s becomes a quantity game. And I think that’s where people really get messed around, where business owners are not treated with the respect they’ve earned. And they’re seen as numbers and it’s how fast can we turn the numbers? And I think that model is does a real disservice to business owners.

Damon Pistulka 34:49
Yeah. I could not agree more. I’ll just say that much. And you you mentioned one thing too and this is a great thing have to wear or is looking to sell their business? And it’s, I think this is a key question when when you’re really looking for who you want to help you sell your business is, how many businesses are you helping to sell right now? Because I’ve always found that that’s it’s very hard for me to understand how any even relatively good, large male 1012 person organization could be actively selling 150 or 200. Businesses. How are you really doing that? It’s numbers on a board.

Patty Block 35:36
It’s cookie cutter.

Damon Pistulka 35:38
Yeah, it’s numbers on the board. And I think that go out, and you’ll Google search, right? And they’ll say, Have you sold businesses in my industry? Have you blah, blah, all these other things, but that is never shown in there? How many businesses are you? Are you listing right now? How many visitors are you working with right now? And the the people that you talk to? And you ask that question, and when they say, 100, I can tell you from receiving information, working with clients, buying businesses, that there is a drastic difference in how much care and thought, and anything is going into presenting that opportunity to someone else. And like you said, it’s just getting a transaction done at that point, if they can.

Patty Block 36:28
Yeah. Right. And also, you and I have both experienced deals that fall apart? Oh, yes, yes. And, or I’ve had situations where I’ve worked for several years with a client, and they fall back in love with their business, because now it’s not so stressful, and they’re making more money. So they decide, well, I do want to exit, but not in three years, now, maybe in seven years. So it changes the whole dynamic of what the business owner is experiencing. So but deals fall apart all the time. And I saw a statistic not too long ago, about the the concept that only 30% of small businesses successfully sell. And of that. 30% So you know, think about that 70% of small businesses who don’t have a viable option to exit. And of that 30% who successfully sell some tiny fraction of that, like 2% it are women owned businesses. So again, women aren’t necessarily thinking or planning ahead, sometimes we think will live forever. And sometimes we think, what would I do? Right? I don’t want to retire. And so what would I do if I sold my company, and all of that those beliefs and and doubts that some of what I deal with and help them think through because you’re not going to live forever? And someday you will exit whether it’s voluntary or not. So wouldn’t you rather plan your exit it’s still on your timeframe and under your control, and perhaps build wealth as you’re doing that? Yeah.

Damon Pistulka 38:24
Well, I think you’ve just given us a masterclass in why we should really think about our exits and I mean, just the way you’re so eloquently explaining, really thinking about it and understanding what it what it needs to look like and then all the way through the process of using your intuition to make sure the next buyer is going to carry the legacy on like you want. S Thank you. So great to get to talk to you today Patti, and I just man, I hope the listeners here if you’ve been listening to this, you really need to go back to the beginning. And if you’ve heard something you should talk to Patti about this. I mean we’ve had several conversations and every time I’m just so pleasantly surprised to be able to talk with you it because I just love your approach to how you’re helping people and really showing women that it is it there there can be a lot more with a lot less stress and a lot less like you said I wrote this down before we started and this is like many pages of notes ago because when you see when anyone sees me looking down they people have watched a lot No I’m just writing notes I write notes like crazy. I’m not a note taker but one of the things about the talk about your book and you talk about you you can you can your hidden advantage you talk about you can have a business that gives you more confidence. Prophet enjoy. And I just think that is an incredible combination. Because, you know, it’s just when you see people in their businesses, and they’re getting in there, their businesses are running great. And they see that things are working well. There’s really nothing quite like it.

Patty Block 40:22
I agree. And that’s, that describes how I feel about working with my clients that it brings me so much joy.

Damon Pistulka 40:31
Yeah, incredible. Well, Patti, thanks so much for being here today. If someone wants to reach out to you and get a hold of you, what’s the best best way? Is it like, go to your website? Let us know. Yeah,

Patty Block 40:43
if you go to my website, the block group.net. There’s a contact form there. Of course, also, if you’re interested in the book, if you go to your hidden advantage.com There are bonuses there that are companion pieces to the book. And then you can also buy the book there. And I also have an assessment if you’re curious about how exit ready you may be or what some of the things are, you should be thinking about to become exit ready. You can visit CI dash exits.com.

Damon Pistulka 41:23
Yeah, yep, I wrote that down and forgot to talk about it. I’m gonna go do that because I really she, hyphen exits.com. If you want to see it, get your exit Readiness Index. That is so cool. I want to definitely go through that and check it out. Well, Patti, thanks so much for being here today. Thanks, everyone. Listen and anchor for your question or to your comments today. Really appreciate that. Love, love, love getting to talk to you about this patty. And I hope that anyone out there listening today reaches out and talks to you at the very least go back and listen to this thing from the beginning. Thank you.

Patty Block 42:01
Thank you. All right,

Damon Pistulka 42:03
everyone. We’ll be back again next week with more guests on the faces of business. For now we’re signing off Patti, hang out with me for just

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