Excelling as a woman in a male-dominated industry is no easy feat but, looking at Michelle Seiler Tucker’s career, it is clear that with the right focus, tenacity, and ability, it is totally achievable. On today’s episode, Michelle tells us the story of how she came to build a hugely successful business, offers listeners expert advice and encouragement, and gives us some key insights into the world of mergers and acquisitions. She offers listeners a valuable piece of advice: ask yourself why you entered your industry, before emphasizing the importance of doing due diligence before starting a business. Next, Michelle introduces us to the idea of buying an existing business rather than starting a new one in order to reduce risk, and tells us why the worst time to sell a business is during a catastrophe and the best is when it is thriving. We touch on Michelle’s book, Exit Rich, and the importance of building a business as an asset that you can sell. Michelle expands on this idea, highlighting the value of changing your mindset around entrepreneurship to create a machine that can run without you. She also outlines a core lesson in her book, known as the 'Six P’ method: people, product, process, proprietary, patrons, and profit. Tuning in, you’ll hear about the life cycle of a business, with Toys R Us as an illustrative case study, we dive into some of the main reasons businesses fail and, lastly, Michelle tells us why the failure rate for startups has decreased so drastically: innovation. We hope you join us for an inspiring peek into the world of business from an unstoppable force in the field!
 
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