California has more women-owned companies than any other state with over 1.3 million female-headed operations. When women business owners divorce, they risk disruption to their companies that could undermine their success. Here is a handful of tips for entrepreneurial women who are navigating divorce.
Value your business accurately
Rule one is not letting your spouse dictate how much you and your business are worth. To get what you deserve, it’s essential to evaluate the financial landscape accurately and then stand your ground.
Find an attorney with whom you click
Keeping a business running smoothly takes a lot of energy, and so can a divorce. You want to make sure the legal professional you hire to handle the divorce works well with you. When you have confidence in your lawyer and trust their experience, the legal process may go a lot smoother, so you can focus your attention on the business side of things.
Determine company ownership
Did you start a business with your spouse? If so, negotiations can be complex. In these cases, supporting documents can make all the difference. Get your hands on as many originals as possible, and work closely with your attorney to craft the strongest possible argument.
Understand that it is emotional
For the overwhelming majority of people, divorce is an emotional roller coaster. People who understand this tend to weather the storm better, so it’s important to realize that the process will likely be littered with ups and downs and difficult situations. Being prepared and realistic can help you get through it.
Running a business is challenging, and dealing with a divorce can be draining. However, if you compartmentalize the personal from the professional, juggling both is manageable.