Diva Tech Talk interviewed Linda Rose, currently a merger and acquisitions advisor through her own company RoseBiz Inc., and a published author, whose book, GET ACQUIRED FOR MILLIONS --- offering wisdom and a practical roadmap for business owners interested in divestiture --- has been available since August, 2019. In her journey, Linda has owned four separate companies, and has consulted with hundreds of others.
As early as 7th grade, monetarily motivated Linda knew she wanted to become a CPA, after visiting with family friends in that field, who appeared to enjoy an idyllic lifestyle. “I was in that 2-week window of my life. I had decided I didn’t want to be a pilot or a vet!” Fortunately, her PSAT’s later pinpointed strong math proficiency, and she graduated with both a bachelors and a master’s in accountancy from San Diego State University. She then spent four years at famed “Big 5” accounting firm: Arthur Andersen (now Accenture), “working on very esoteric tax applications and issues.” At Andersen, Linda also had the chance to write some accounting software. But she segued out of the firm for love, since her future husband was aiming toward a partnership, and there were strict firm policies on non-fraternization. “So, I left and went to work for a customer of the firm.” Then, many life circumstances converged simultaneously. Linda got pregnant; got laid off; and became a Southern California homeowner, an expensive proposition. “I had to do some ‘gig work’ before we had our son.”
Linda’s solution was “I found myself implementing a DOS-based accounting package for a company that needed assistance. I felt very comfortable around Visicalc and Lotus. That’s what got me into tech!” Once submerged in the technology field, “I never looked back,” Linda said. “I didn’t aspire to have my own business, but I did like what I was doing. And I was getting more business than I could handle.” She recruited others as independent contractors, and after several years incorporated. “It wasn’t a grand plan. I just wanted to put food on the table. I really liked the work, and the flexibility it gave me as a mom. And I hired a lot of other moms. For the first four years, it was 100% women. We all had the same goals: raising children, providing a flexible work environment, and doing the work we loved.” Then, Linda got “the growth bug,” and began hiring other experts, including men. Eventually her clients spurred her to diversify into staffing, and data center hosting. “It was a crazy period of my life. For ten years, I had three companies at three separate locations. That forced me to hire very capable people, to delegate, to not have the businesses centered around me. It was hard lessons learned since I didn’t have a lot of people mentoring me.” Linda’s epiphany was “I was an entrepreneur at heart. I loved the flexibility and the control that having my own company afforded me.” A milestone was establishing a 401K program at her companies; and recognizing that her comfortable retirement would need to come from divesting one or more of her companies. “It forced me to look at my three companies objectively.” Beginning in her 40’s, Linda took five years to self-reflect, analyze markets/trends, make hard decisions, and architect a plan. She sold her staffing company, first; then the others, including her final 2017 divestiture of RoseASP, a Microsoft channel partner and MS dynamics hosting company, “which I sold for millions.”
While Linda’s original retirement goal was age 55, she found after the final divestiture that “I missed the people I was working with, the brainstorming sessions. But I knew I didn’t want an employee base again, or an office, again. I was at this crossroads.” Inspired by the self-discovery odyssey depicted in the movie, WILD, Linda trekked 40 miles around Mount Hood and then undertook a 6-week 500 mile hike of the Pacific Crest trail. “It gave me a lot of time to think.” She concluded that “I needed to put everything I learned into a book, my way of giving back to the community that supported me. I had this knowledge of selling three companies and buying another company. And I wanted to put that knowledge into the book.” Linda took 18 months to write her book, which she feels fills an underserved niche: smaller companies, in a technology channel, and “written from the owner’s viewpoint.” Linda wanted to provide a book that touched on both the pragmatic and psychological issues faced by a founder/owner, but “also provide guidance on the numbers” and valuation. “It’s a book that prepares you for the process” of selling your business. She also wrote a program that accompanies the book. While Linda acknowledged that 90% of owners selling their channel tech businesses are men, “I felt that it was really important to write a chapter dedicated to women. It’s called ‘The Female Factor’ about what it was like to be a woman owner in tech.”
Linda shared some wisdom for women in tech and other leadership roles. Her advice included:
Take control of your finances. “Early on, invest in your future. Understand investments and fees you’re being charged” and have a disciplined investment strategy that you control.
“Find a mentor or mentors you can depend on, who really care about you.” One of Linda’s regrets is that she could not find a female mentor doing similar things. But her male mentors, many of them clients, “helped me take those big leaps!”
Particularly if you aspire to leadership, build your “home team.” According to Linda this is whomever you can rely on to help with all aspects of life: nannies, transporters, personal chefs, errand-doers and more. “You can’t be a good Mom, and run a successful company, and do it all by yourself!”
Create your personal brand. “It’s important because you never know where you will end up.”
Linda’s own “brand” was a combination of personal characteristics and practices. “For me, it was always about being fair, ethical, and servicing my customer --- doing what’s right for the customer and doing what’s right for the employee. It’s important to look inside your inner self and decide what you stand for.” She was/is a voracious reader (“at least a book or two a month”) and found that “alone time” was invaluable to her, as she made decisions. One of her most recent insights is that “each of us has our own ‘glass ceiling’ “and most of the time, it is lower in our minds than it should be, when viewed through an objective lens. “So, I think it is important that we break through our own limiting beliefs first” before tackling big challenges. “The ceiling should be getting higher” as we strive for progress and evolution. During her 500-mile trek, Linda said: “I raised my own personal glass ceiling.” She faced bears, rocky trails, boulders, and other frightening challenges. She overcame them, and found a renewed, exhilarating sense of empowerment, and new paths, including her new specialty of consulting on mergers and acquisitions.
Linda Rose can be reached on LinkedIn and via the web at http://rosebizinc.com, where she frequently blogs.
Follow us on Twitter - @divatechtalks
Visit us on Facebook -https://www.facebook.com/divatechtalk
If you like this podcast, please subscribe on your favorite podcast channel. Please listen to us on iTunes, SoundCloud, Spotify, and Stitcher and provide an online review.
Tell a friend.
