Are you building a business but unsure if it's actually sellable? Wondering what it really takes to position your company for acquisition? This episode reveals the strategic decisions that transform founder-dependent businesses into valuable assets—and how one entrepreneur built, sold, and now helps other female founders do the same.
Ilona sits down with Maggie Lord, founder and former CEO of Rustic Wedding Chic, which she built from 2008 to 2020 when it was acquired by David's Bridal. She's now a partner and exit advisor at The Whisper Group, where she specializes in helping female founders sell their businesses. Maggie is also the author of six books and serves on multiple boards including Zola, Rock Paper Coin, and Something Borrowed Blooms.
This conversation goes beyond typical exit advice. Maggie shares the real story of building Rustic Wedding Chic before Pinterest existed, why she realized her longest maternity leave was two weeks because the business couldn't run without her, and the moment she knew it was time to let her "cash cow that supports my babies" grow beyond her. You'll hear about the emotional work required to sell a business where your identity is wrapped up in the brand, and why she tells founders an acquirer could shut down everything you built—and you have to be okay with that.
You'll learn practical strategies for making your business less founder-dependent, why your income needs to be "RED" (reoccurring, expected, diversified), and how to build systems that allow you to vacation for a month without revenue dropping. Maggie also reveals the acquisition process surprises that most founders don't expect, why due diligence kills deals, and how she helps female founders navigate exits without massive brokerage firms.
Whether you're building a business with exit intentions or simply want to create something sustainable and valuable, this episode provides the framework for strategic positioning—where intentional leadership today creates options tomorrow.
Timestamps:
00:00 Introduction to the Podcast and Guest
00:49 Maggie's Entrepreneurial Journey
02:50 Early Business Ventures
04:50 Navigating the Digital Landscape
06:06 Foundational Decisions for Success
07:14 Trademarking and Legal Insights
09:10 Preparing for Business Exit
13:26 Emotional Aspects of Selling a Business
17:01 Helping Female Founders with Exits
20:02 Discovering a New Passion
20:51 The Power of Writing Down Goals
24:25 Building a Sellable Business
25:33 Success Stories and Diverse Industries
27:22 The Importance of Clean Books and Due Diligence
33:27 Balancing Multiple Ventures
36:17 Empowering Female Leadership
37:20 Actionable Advice for Founders
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