Taking Care of Business (and Babies)
Things don’t stop in life because you want to start a family. If anything, they get a little bit busier as you try to squeeze additional projects in – think prenatal yoga, nesting, etc. So, what do you do when you are trying to acquire a business at 39 weeks pregnant? You figure it out.
I have been searching for a small to medium-sized business to acquire for a little over a year and a half. I have spoken to hundreds of companies, met with business owners from California to Florida, and negotiated on timelines simply based on business benchmarks. But what do you do when your business benchmarks don’t correspond with your baby benchmarks? Again, you figure it out.
I am currently 39 weeks pregnant and under LOI to acquire a business. I met with the company’s owner weeks ago and was upfront about my pregnancy. While the business owner didn’t see an issue with me being pregnant, my stress levels have been a little higher than usual as a first-time mom and a serial planner.
Here are some insights that I have learned over the last few months as I prepare to have a baby while running a due diligence process and managing everything else in my life.
1. Own it. As a woman, we should be bewildered at our ability to bring a life into this world. After week 12 of the pregnancy, I started to tell people my exciting news. I was very upfront with my investors, business associates, and every business owner I engaged with. For me, this is part of my personal and professional journey. It will make me a better woman and businesswoman in general, so I never felt the need to hide it.
2. Be Kind to Yourself. Being pregnant isn’t easy. You can’t sleep on your back or stomach, burpees are a thing of the distant past, and your 15-hour deal days are cut almost in half. You must be able to let things go and welcome new ways of operating. For example, I take frequent breaks to kick my legs up (think pregnant lady swollen feet). During that time, I also take a mental break from work. This allows me to keep swelling in check while clearing my mind so I can come back to my project with a fresh perspective. While I might not be working more, I am working more efficiently.
3. Rely on Partners of All Kinds. I am fortunate to have my husband James by my side through this journey; he has been a champ. He is familiar with the closest Carvels and their closing times. But on top of that, my investors, team members, and fellow search funders have been excellent sources of insight. I also knew that I couldn’t run diligence alone, so to avoid any interruption in service, I brought on a diligence partner. This partner is someone I know and trust who can run with everything while I am incapacitated.
4. Be present. This one is always hard for me. When I am waiting at the doctor’s office, I am thinking about key deliverables for diligence. But seriously, did we confirm customer retention correctly? What was the YOY growth? Etc. etc. etc. However, I know that I need to be present when the little one comes. You only have your first baby once and I plan to be present 100% of the time I am with her. Yes, I will check emails while she is asleep and I am lucid enough to respond, but as soon as she is awake, I will be turning off “CEO” and turning on “Mom.” I know the deal will be there when I get back.
I knew what I needed to do to get to where I want to be, and I just went for it. Not everyone has understood why I can’t take extended maternity leave or why I would decide to have a baby during my search process, but that has nothing to do with me. I know that I am doing the best thing for myself, my family, investors, and partners. There is and never will be a perfect plan, especially for business and family, so I am ok just trying to figure it out.