OK I got an offer on my business. It's not what I wanted but it is a nice chunk of change. The other option we are discussing is having them buy in 60% controlling interest of the business. The company buying me out is a bigger one and can probably do a lot with it that I couldn't myself. I am just not sure I want to stay in at 40%.
I did the math. They think they can easily grow my business 50% each year over the next 4 years. At that rate it would only benefit be short term... maybe 2 years with the initial 60% paid. After the 3rd year I would be better off not selling out. This is also assuming if I did this alone I would not grow but only maintain the current income. It's likely I will be able to grow it more on my own.
On the flip side, that is their conservative estimate. If they were to grow it 100% or more each year with the resources they have then I would be better off selling it at 60% and getting my 40% profit share.
If I sold my business off completely then of course I wouldn't look back. Oh the decisions... I could pocket it all. I could use it all to start a new business. I could divide it up. This is where having solid concrete goals is important. If I knew where I wanted to be in 10 years from now it would make this decision a LOT easier.
I did the math. They think they can easily grow my business 50% each year over the next 4 years. At that rate it would only benefit be short term... maybe 2 years with the initial 60% paid. After the 3rd year I would be better off not selling out. This is also assuming if I did this alone I would not grow but only maintain the current income. It's likely I will be able to grow it more on my own.
On the flip side, that is their conservative estimate. If they were to grow it 100% or more each year with the resources they have then I would be better off selling it at 60% and getting my 40% profit share.
If I sold my business off completely then of course I wouldn't look back. Oh the decisions... I could pocket it all. I could use it all to start a new business. I could divide it up. This is where having solid concrete goals is important. If I knew where I wanted to be in 10 years from now it would make this decision a LOT easier.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
