By Jessica, with a tad bit of help from John
Page one of “Buying a Business That Makes You Rich” lists the top nine reasons audiences have shared on why they want to own a business. The reason we think is the most important is, “to have fun”. But over 98% of the time it’s not mentioned.
According to a recent article in the Wall Street Journal, “An Ignored Skill in Aging: Having Fun,” seniors have experts on almost all age-related issues except on having fun. Yet, they are the ones with the most time to have fun, many say they have forgotten how since they have spent the last forty years plus going to work, raising children, and taking care of aging parents.
Seniors have fun and business buyers looking for something that will be fun have a lot in common. Fun is in every aspect of our lives work, family, and friends, as it should be.
Dread getting up in the morning and going to work? How productive can you be if it’s not fun? FYI, the Gallup poll on the workplace shows about 70% of workers are not happy or engaged in their jobs, and it’s been that way for at least five years. And, if it’s the grind of a job you hate it will take a toll on other areas in your life.
When this happens, people start thinking about a career change to bring back the fun. For some it is to own their own business. Sick of the corporate world, they want to call the shots and benefit from their actions and decisions.
If this is you, one question to ask yourself is “What are my reasons for wanting to own a business?” Chapter one goes into a bit more depth on how to answer and assess those questions. (And realize, it’s not for everyone.)
On the other side, there are the business owners that are ready to move to their next great adventure in life. Hopefully they have an exit plan for a smooth transition and to pave the way for the new owner’s success.
A Win-Win! Is when the buyer comes in and has fun and the seller leaves with style, and grace and more money.
When buying or selling a business, the two parties involved need to have a good relationship. One thing we often hear from business owners talking about selling is “take care of my employees, they’re family.” If a seller feels like her employees are not going to be taken care of, it could mean the difference between deal or no deal.
Employees are just one example, but the buyer needs to understand what is important to the seller, it is imperative they get along and have a great working relationship. They both need able to wake up and be excited for the day ahead.