I’m Making Lots of Money So Why Quit Now

Joan M. Ridley and Betty Schnaufer

We see your point. You’re supporting a really nice lifestyle, maybe with a vacation home, expensive hobbies, a few nice cars, pricey sports events – you get the idea. This is why you left your job years ago. Had you continued to work for someone else you never could have made the kind of money you have earned by owning your own company. You have worked hard, taken a lot of risk and it has paid off.

Rough Patches

But times weren’t always so good. A few recessions have taught you that owning a business isn’t always fun. Maybe back in 2008 you had to let people go, rent out part of your building, renegotiate your bank note or lease, reduce employee benefits (including your own), and still pray that you would make payroll. But your business survived.

Taking Inventory

So here you are today. Your kids are educated and on their own, or maybe they work for you. You’re pretty healthy except for a few extra pounds. Life is good. The question is, how long will it last? How certain are you that this long bull market will continue? How long will your business continue to support your lifestyle and still be profitable?
How long will your good health continue, and, who will take your place at work, if it doesn’t? What will happen if the market, your industry, or your health take a downturn? What is your game plan if any of those things happen? Do you have enough runway left to turn things around?

You’re Still in Control

Here’s the good news. You’re still in control of your life and your business. Right now, you can plan for your future. If you don’t take advantage of that opportunity someone else will step in and make decisions for you. That someone might be an employee or relative who might not see the situation the way you do, maybe resulting in self-serving or ill-advised decisions and actions. The result could be putting your loved ones, your employees and your customers at risk.

Take Charge Now

You have been successful all these years because you had the courage to take charge of your life and to make the tough decisions. Your business is more profitable now than it has ever been. Because of that, buyers are willing to pay top dollar, and, they will be able to secure better bank financing.

So ask yourself:

What’s my business worth today
Are there buyers who would pay what I think it’s worth
Will my valued employees stay
Will I have to finance any part of the sale
What’s my plan to weather the next downturn

Where to Find Help -- Discreetly

We have over 25 years combined experience in helping business owners figure out how to prepare for their next big adventure. Call us today at 214-692-9192 for a confidential, complimentary meeting to discuss your plans for your business and how to achieve them.