Turning Your Lifestyle Business into a Sellable Asset: Lessons from Carrie Kerpen

In the latest episode of Girls Make Bank, I had the pleasure of sitting down with Carrie Kerpen, founder of The Whisper Group and a trailblazer in helping women entrepreneurs turn their lifestyle businesses into valuable, sellable assets. Her story is nothing short of inspiring, packed with practical insights and actionable advice for anyone looking to scale their business.

Here are the key takeaways from our conversation:

1. Every Business Can Be a Lifestyle Business

Carrie challenges the traditional notion that lifestyle businesses can’t scale or be sold. She believes every business—whether a solopreneur’s side hustle or a full-fledged agency—can become a life-changing asset with the right approach.

Takeaway: Begin with the end in mind. Ask yourself: If I handed my business to someone else tomorrow, would they be able to run it profitably?

2. Build with Transferability in Mind

Carrie shares that one of her early mistakes was building a business too centered around herself. Over time, she learned to create systems and processes that could function independently of her.

Pro Tip: Start documenting workflows, delegating tasks, and building a team early. Your business should thrive without you in the day-to-day operations.

3. Relationships Are Your Biggest Asset

For Carrie, relationships were the cornerstone of her success. From launching a podcast to connect with potential clients to fostering genuine connections, she leaned into the power of community to grow her business.

Action Step: Focus on adding value to your network without expecting immediate returns. Relationships built on trust will pay off in the long run.

4. Exit Planning Is About More Than Numbers

Selling a business involves more than spreadsheets and valuations. Carrie highlights the emotional and strategic challenges, from understanding working capital to navigating a room full of investors.

Carrie’s Advice: Start preparing for an exit—even if it’s years away. Read books like Built to Sell by John Warrillow, and surround yourself with advisors who’ve been there before.

5. Scaling a Lifestyle Business for Sale

Carrie’s journey with Likeable Media showed her the importance of balancing growth and profitability. While scaling too fast can create inefficiencies, focusing on profitability ensures long-term sustainability.

Takeaway: Growth is exciting, but make sure it’s sustainable. Prioritize profitability and refine your processes to maintain quality as you scale.

Carrie’s Message: "Your lifestyle business is a lifestyle. Make it one that’s worth living—and eventually, worth selling."