Today we have Jeanne Voigt on the show to talk about her experience starting, growing, and selling MindWare, a catalog and online retailer of educational toys.
Jeanne started MindWare after leaving the corporate world when she was 39. Today she dives into detail about her initial go-to market strategy, why she realized her business model needed to be restructured, and how she “bet the farm” to grow a company that she would eventually sell after getting an out-of-the-blue offer she couldn’t refuse.
Even though the offer was one she couldn't refuse at the time, Jeanne reflects during the interview about what worked and what did not and the things she may have done differently.
WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast
What You Will Learn
Why Jeanne decided to become an entrepreneur after talking with a mentor.
How Jeanne built and scaled her business by simply observing what people wanted.
How Jeanne realized she needed to rethink her business model and what she did about it.
Jeanne’s story on “betting the farm” with her business while having no cash.
How an out-of-the-blue offer shifted her mindset on the long-term vision of the company.
Why Jeanne decided what she wanted and why out of her exit.
How Jeanne compared the different offers and different buyers and why she made the choice she did.
Why Jeanne brought her staff in on the meeting with potential buyers (even though that can be risky).
The most important thing to MindWare’s employees when it came to what they wanted with a buyer.
Some of the challenges of operating the company post-transaction–and why everyone was not aligned–even though the buyer was the top choice.
Why the emotional side is something to keep in the forefront of your mind while going through the exit process.
Jeanne’s reflections on what worked and what she may have done differently–based on what she knows now–during her journey growing and selling MindWare.
// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment
Bio:
Jeanne M. Voigt is the founder of MindWare, a catalog and online retailer. She sold the company in 2003 but continued as president until 2007. She currently serves as a consultant and board member for the company and is