Selling a Company, What Advice Would You Give to an Entrepreneur?

Cindy Eckert (formerly Whitehead) (@cindypinkceo) is an entrepreneur with 1.5 billion dollars in exits who currently serves as the founder and CEO of The Pink Ceiling, an investment firm and consulting enterprise nicknamed the Pinkubator with a mission to invest in, launch, and build other women-led or focused businesses. She believes that access to good advice alone is not enough to change the ratio of men to women in business, and that is why she personally invested more than 15 million dollars in 2017 alone to support the development of nine portfolio companies.

I should mention right off the bat that if you're a guy, don't let this bio turn you off in any way — in the sense that I wanted to have Cindy on the show because she is a good CEO and entrepreneur, very much irrespective of gender. The negotiating techniques, the approaches to deal-making, everything that we talk about applies to entrepreneurs, period, full stop.

Earlier in her career, Cindy was the founder of Sprout Pharmaceuticals, home of Addyi, the first and only FDA-approved treatment for low sexual desire disorder in women, which was sold for one billion dollars and then reacquired in a crazy story with incredible terms that we will discuss in this conversation.

Please enjoy this wide-ranging conversation with Cindy Eckert!

This podcast is brought to you by Peloton, which has become a staple of my daily routine. I picked up this bike after seeing the success of my friend Kevin Rose, and I've been enjoying it more than I ever imagined. Peloton is an indoor cycling bike that brings live studio classes right to your home. No worrying about fitting classes into your busy schedule or making it to a studio with a crazy commute.

New classes are added every day, and this includes options led by elite NYC instructors in your own living room. You can even live stream studio classes taught by the world's best instructors, or find your favorite class on demand.

Peloton is offering listeners to this show a special offer. Visit onepeloton.com and enter the code TIM at checkout to receive $100 off accessories with your Peloton bike purchase. This is a great way to get in your workouts, or an incredible gift. Again, that's onepeloton.com and enter the code TIM.

This episode is also brought to you by LegalZoom. I've used this service for many of my businesses, as have quite a few of the icons on this podcast — such as Automattic CEO Matt Mullenweg of WordPress fame.

LegalZoom is a reliable resource that more than a million people have already trusted for everything from setting up wills, proper trademark searches, forming LLCs, setting up non-profits, or finding simple cease-and-desist letter templates.

LegalZoom is not a law firm, but it does have a network of independent attorneys available in most states who can give you advice on the best way to get started, provide contract reviews, and otherwise help you run your business with complete transparency and up-front pricing. Check out LegalZoom.com and enter promo code TIM at checkout today for special savings and see how the fine folks there can make life easier for you and your business.

***

If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!

For show notes and past guests, please visit tim.blog/podcast.

Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.

For transcripts of episodes, go to tim.blog/transcripts.

Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.

Discover Tim’s books: tim.blog/books.

Follow Tim:

Twitter: twitter.com/tferriss 

Instagram: instagram.com/timferriss

Facebook: facebook.com/timferriss 

YouTube: youtube.com/timferriss

Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.