Why is it so difficult for most small business owners to understand that starting a business is the easy part -- but selling THAT business takes planning and real guts! 
Women entrepreneurs, like Ginger Rogers as Ann Richards famously said, can do "it backwards and in heels", so why don't they?
The Women's Business Council's 2012 Annual Report states that women-owned businesses are disproportionately present in low-receipt industries such as: real estate, educational services and administration services. (You'll notice all industries that provide services rather than product). Businesses that generate income from selling services rather than product also require more time from the entrepreneur which can jeopardize the opportunity for growth and eventually for a successful sale or exit. However, when entrepreneurs, male or female (Fred or Ginger), plan for a future sale they are more likely to achieve it.
In my experience working with women entrepreneurs, I know that many start their businesses by leaving their employer and then selling their service back to their former company as an outsourced provider. For example, many companies outsource their marketing, public relations, web design, SEO, bookkeeping and/or human resources work to former employees who choose to work from home creating a better work/life balance. The entrepreneur (most often a Ginger) starts her own business generating income from one large client. She then needs to pay all her own expenses through her new launched business and retain enough to make the new arrangement work. Of course, she also now has time to seek out other clients. The problem with this scenario is that the business is reliant on one large client and is always in jeopardy of failing for this reason.
Launching a service business is the easy part for Freds and Gingers. The hard part is learning how to build it so that it can sell. So Ginger listen up:
Create a business model that doesn't require YOU to do all the selling or all the service work. First, it isn't possible to do everything in your business and grow a business. Your business model has to be something that someone else can sell or provide or you don't really have a business - just a hobby. Hire people you can delegate to and eventually depend on as key employees. Key employees are critical if you plan to sell your business.
Although you may start your business with one client, start adding clients immediately after the launch. Leverage the reputation of your one client, (former employer), and build a customer base NOW. The old "putting all your eggs in one basket" scenario of having the majority of your income come from one client will eventually sink your business. How do I know? Over the years, I've work with several companies who although generated millions of dollars the majority of that income came from one major customer (in one case it was the Bank of America in another it was, what was then known as, Bell Atlantic). In both cases, when the large customer decided to change vendors the business wasn't nimble enough to stay afloat. DON'T PUT ALL YOUR EGGS IN ONE BASKET!
Find a niche. I am a believer in niche businesses. I did it and so can you. Never allow a customer to tell you what you should do in your business. Of course, you KNOW how to customize what the customer wants, but that doesn't mean you SHOULD do it. Once you start customizes everything for every customer you no longer have a business model that is scalable. Customization means unique every time. Think of the businesses that do customize - dressmakers, copywriters, web designers, you get the picture. Every one of these businesses require one person to do all the detail work and go back and forth with the customer until the customer is happy. Now think about selling something special that no one else sells. Your business creates this before the customer asks for it. Think APPLE! Enough said on this strategy.
Finally, although I tell every Ginger I work with to get out there and get as much visibility as possible to make a name for yourself that does not mean that you want to be seen as synonymous with your business. It is important that you are seen as a leader - leaders build companies - leaders lead people. But great, salable companies have several key people working for them who are seen as valuable assets to the company. Once you've built a reputation and name for yourself make sure to provide visibility for your executive team by getting them out to speak for the company and represent it at every turn. Only companies that have strong teams sell.
Starting a business is a grand goal and can be the answer to a grand retirement, but only if the exit is continually thought about from the start. And, as difficult as it is for women to grow companies due to the lack of expansion capital, women are doing it better and better every year. Once again, women realize more today than ever before that their future is in their own hands and that given the choice of dancing backwards or forwards they can and will do it to their own beat - in heels or not.
