In the past 20 years, there has been a wave of women-owned businesses, and women selling those businesses. However, no one is really talking about it. In this mini series, host Kris Plachy is bringing women business owners on to talk about their experiences of selling their businesses. In this episode of Leadership is Feminine, Kris talks with Andrea Wagner,PhD. Andrea shares her story and lessons she has learned throughout almost 15 years of starting and selling businesses.
Andrea brings a lot of insight to this conversation on topics such as acquiring funding, identifying market indicators, and how crucial it is to surround yourself with co-founders that have skills which compliment your own. She also talks about her latest projects, Lux Lined and Herizon Funding.
This conversation doesn’t just focus on business advice. Andrea also shares what it was like to experience the emotional journey of selling. Unlike the previous guests in this miniseries, Andrea did not stay on for any transitional period after the close of the sale, and she details what that felt like.
The conversation then turns to the need for more badass women in sales, technical, and financial roles with Kris highlighting an important moment when Andrea leveraged the skills of women in her network without feeling like she had to DIY every aspect of a new business venture. As Andrea perfectly illustrates, "Just do it and move onto your next great thing."
Brace yourself for an episode jam-packed with wisdom, wit, warmth, and women empowerment.
Guest Bio
Andrea N. Wagner is a dynamic entrepreneur and advocate for women in business, renowned for her significant contributions to the fields of manufacturing and STEM education. As the former C-Level executive and co-founder of Berkshire Sterile Manufacturing and Hyaluron Contract Manufacturing, Andrea has demonstrated exceptional leadership and innovation in the industry.
A staunch supporter of women-owned businesses, Andrea is deeply committed to investing in their success. Andrea's dedication to women's equality in education, finance, and business connections is remarkable. She co-founded Herizon Funding, an organization dedicated to providing financial support to women business owners and closing the gender gap, tailored to meet the needs of women entrepreneurs aiming for rapid expansion and growth.
In addition to her professional accomplishments, her efforts to promote equality and create opportunities for women in traditionally male-dominated fields are a testament to her belief in the power of education and empowerment. Andrea's legacy is one of innovation, advocacy, and unwavering support for women in business and STEM.
Website: luxlined.com
Website: HerizonFunding.com
Key Takeaways From This Episode
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The Necessity of Having a Trifecta in a Business: A sales-focused person, a technically focused person, and a financially focused person
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The ultimate purpose of a business to deliver an outcome and create profitability
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Unique Mechanisms for Selling Businesses: The pre-sale of the business, clauses for reselling and valuing partial ownership over time, avoidance of 'earn out' agreements
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Emotional aspects of selling businesses and the mental preparation required
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The Rise of Women Entrepreneurs and Challenges Faced: The lack of women in C-level positions and the necessity to encourage more women into business
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Initiatives to Support Women-Owned Businesses: The importance of mentoring women entrepreneurs and assistance in growth
Contact Information and Recommended Resources
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