08 Apr The Freedom of Selling Your Own Business
Many business owners start their own business because they do not want to be part of the Corporate America where they will try climbing the Corporate Latter most of their lives. Starting a business offers the freedom of setting your own work hours, building your own dreams—rather than someone else’s, and making the company’s decisions instead of executing someone else’s decisions. This, however, can be somewhat deceiving. Many business owners, once they start their own business, soon realize that they work more hours after starting a business than they ever did while working for someone else. The only difference is that they are building their own dreams, not someone else’s.
Once you have built an enterprise that is capable of running on its own, selling the business can offer more freedom that what could have been earned working for another organization. Some deals are structured with a residual that continues to pay the seller or his family for as long as the organization exists. Others make such a healthy profit at the time of the sell that they are able to reinvest the money into safe securities or annuities that will continue to pay without ever diminishing the returns. Some business owners are able to accomplish this while they are still relatively young then they take a few months break to enjoy the spoils with their families, and then they acquire or start another company and do the process over again. This is the type of freedom that comes when you sell a business; this is the freedom that many people start their businesses for.
The fact of the matter is that when you start a business you are taking on a large amount of risk as you sacrifice your time and money so you can build a bigger and brighter future for yourself and your family. Once you are ready and willing to take on that responsibility and risk you deserve to earn a premium above and beyond that of what someone else working the same hours for a steady pay salary would earn.