E182: Paula Short - How To Improve Your Business Valuation And An Honest Account Of Exiting Your Founding Company

Paula Short is the ex Co-Founder of Beauty Boulevard, a successful cosmetics company that stocked products globally in stores, salons and airlines. After exiting the company in 2021, Paula went on a journey of self-discovery to become a Freelance Business Advisor focusing on strategic growth. As we navigate the challenges brought on by the pandemic and the evolving landscape of consumer behaviour and the economic market, Paula shares her experience of exiting her successful business, Beauty Boulevard, and delves into the emotional journey of letting go.  From the impact of COVID-19 to the importance of understanding customer patterns and behaviours, Paula and Richard explore the value of seeking external expertise, taking breaks, and the significance of trusted consultants in guiding business growth.  Listen to this episode to hear about the raw truth of exiting a business and what happens after. Paula shares where many companies go wrong with their strategy, where to spend your marketing budget and how to improve your valuation.  Join us as we uncover the wisdom, practical advice, and personal experiences shared by Paula Short in this compelling episode. Topics Covered 00:20 - Proud achievement in business, sold shares before COVID 03:08 - Business shutdown despite successful showcase in NYC 09:12 - Business consultant with vast experience discusses strategies 10:07 - Know your customer and guide businesses to success  16:57 - Business ups and downs require trusted support 21:15 - Challenges of getting products into big stores 28:05 - Traveling to Europe and US trade shows 31:19 - Realising capabilities, enjoying self-investment and need for balance 35:11 - Embrace the present and notice the world around us 38:17 - Strategically target marketing, analyse customer data wisely 41:45 - Writing thoughts for better sleep, unlikely business sale 45:01 - Unfamiliar changes forced, but necessary for growth 46:42 - Maximising valuation post-sale and during COVID 49:34 - Investing in consultancy to help others succeed 52:47 - Connect with me on LinkedIn and book recommendation