Entrepreneurialism
Buy A Business With This Strategy And Your Professional Life Will Be Virtually Stress-Free
One day I was telling a friend of mine about all the reasons why he should do everything he can to keep the seller of a business he was buying on board to manage it.
When I got through telling him why this would add years to his life and make his business life virtually stress-free, he asked what he should do if the owner wants to just drop out and retire? What should he say to keep that person in?
Very good questions. And all I can say is that, in the last 15 or 20 years, the majority of the owners I?ve worked with stay on. In fact, many of them will volunteer to stay, even though they were thinking of kicking back and retiring before.
Reason why is because you're pretty much making their dream come true. They get to run a business without being responsible for it. In other words, you're cashing them out -- and giving them a huge bundle of money on the sale -- and you're taking all the risks away from them. They can now run their company while getting paid a good salary, but without the financial pressures and responsibilities they had before.
And that's why, on every deal I have had in the last 10, 15, maybe even 20 years now -- I can?t keep track -- the former owners have mostly all stayed on. And why they will for you, too.
Arthur B. Hamel has bought over 200 businesses in the past 50 years, and is a well-known author, consultant, investor, business owner, and dynamic lecturer who has shared the stage with such business greats as Robert Allen of "No Money Down" fame. For the past 20 years Art has taught thousands of people around the world -- even so-called "little guys" with no formal education or money -- how to quickly and easily buy large, multi-million dollar businesses with no credit, banks or prior business experience. He has recently decided to share his unique business-buying secrets and tactics free of charge at: http://arthurhamel.com
Art Hamel
Tags: buy a business, buy sell business, Franchise, business, business plan, business opportunitySimilar articles
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The easiest and surest way for a fund to achieve the top quartile in investment performance among peer funds is to achieve the bottom quartile in expenses.
John Bogle