Laura Zander Named Her Exit Price

In our latest podcast episode, Laura explains the deliberate strategy she and her co-founder/husband adopted to elicit an offer for Jimmy Beans Wool.

Good Morning!

Here are today’s highlights:

• The U.S. Chamber of Commerce says Trump’s tariffs represent a $200 billion tax on small businesses.

• A YouTube competition is designed to boost interest in the skilled trades and manufacturing.

• One entrepreneur is trying to resuscitate the fro-yo craze.

THE 21 HATS PODCAST

This week, Laura Zander tells Mel Gravely and Jennifer Kerhin how she and her husband, Doug, managed to sell their business for the price they wanted. As you may recall, Laura and Doug started Jimmy Beans Wool more than two decades ago as a tiny corner store and turned it into one of the biggest brands in the yarn industry. Years ago, the couple decided they’d be open to selling—but only if the offer was right. With that goal in mind, they made a deliberate effort to get the business sale-ready and to keep it that way. And, as Laura ran the company, she started cultivating relationships with anyone she thought might one day be a buyer. In fact, she tells us, she was never shy about saying, “Oh, hey, Bob, it's really nice to meet you. Do you want to buy my business?”

• “Eventually, someone said yes—although getting to a signed contract, Laura says, nearly broke her. Plus: Jennifer thought she had her hands full running her business—and then her own home went up in flames.

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