While having lunch with a client he said being a business owner means you’re “betting on yourself,” which is so true. It’s the same thing a salesperson will tell you, especially if they’re on pure commission or have a base salary so low it doesn’t mean much.
The above gives the impression it’s all about money. Money is important but it’s not the only thing. Here are five areas I’ve noticed are important to our clients and other owners.
- Lifestyle – whether it’s being able to play golf a couple days a week or get in the office at 6 am and stay until 6 pm it’s the owner’s choice (usually). Having a management team that allows the owner to not work as much or only work on what they have a passion for is a key item.
- Employee growth – at least 80% of business buyers I meet say they want to help build a team, help employees get better at their jobs, etc. Being a mentor is important to many.
- Family – there’s the implied taking care of the family financially and often buyers will tell me they want a business many owners’ lament that their kids aren’t interested in the business.
- Accomplishment – when you see your company’s product or service solve a customer’s problem it’s rewarding.
- Creativity – especially for those coming out of a large corporation the ability to be creative with the product, marketing, sales, employee relations, and more is important. Small businesses often live on creativity and flexibility.
Our work is helping people bet on themselves, and that’s pretty rewarding also.
“Of all the arts, the art of living is probably the most important.” (Novelist) Deborah Levy
“As bad a dresser as I am, anything beats being judged by my character.” David Sedaris