One thing we learned from the pandemic mess is a lot of people realized they don’t have to stay in the job they’ve had for years as there are plenty of other opportunities. In that same thought vein:
- There’s a new assistant pastor at our church and it’s obvious she loves what she’s doing. You can hear it in her voice and see it in her body language.
- At Easter brunch a friend was espousing on how much she loved working for her employer and how it’s benefited her both financially and emotionally.
- The April 18 Wall Street Journal had a special section titled, “People Who Hate Retirement And What The Rest of Us Can Learn From Them.”
One of the people featured in the “I hate retirement” article said retirement put a strain on the marriage as they were together a lot more than before. While I get laughs from my line (to prospective business sellers), “If your next great adventure in life is retirement does your spouse want you around 24/7?” Humorous yes, serious, a bigger yes.
I see business owners who can’t let go, they’ll die at their desk. An example is the 87-year-old owner who told me his 48-year-old son wasn’t mature enough to run the business, even though the son was in charge of sales (and more).
Other owners get to the point where after 20, 25, 30 or more years they don’t want to manage anymore, have their net worth on the line, etc. They need a new challenge, or just a break.
People in the corporate world get sick of it and want their own business. When there’s a match with a burned-out owner, we have a deal. Or, when the business is larger, when it’s a match with another company or private equity firm.
“People now listen to gossip as if that’s the truth, but they’ll read news in the newspaper and think it must be a lie.” Harvey Fierstein