If you don’t own a business that you can sell to someone else, you don’t own it, it owns you.
Every business owner’s goal should be to systematize lead generation, operations, and customer service to the point that they can sell their business if they wanted to.
So at that point, do you sell it?
That’s when the REAL party starts. When you’ve ‘promoted’ yourself from being a high-powered employee to actually being CEO.
You can then focus on the real long-term decisions that will make a massive impact on your business.
The only time to sell at that point (and collect 10% per year from the S&P or real estate) is if you believe the party is over.
Newspapers, malls, and record stores. Things like that.
But if your business is growing, why take your capital currently working in something you’re good at and move it into someone else’s hands?
Sure, diversify, but keep the bulk of your capital in your strength. Isn’t that a no-brainer?
“But I only want to help people, not grow a business”. => ‘The best king is the one that doesn’t want to be king’. If all you want is power/money, you are a terrible person to be in charge of all that power and money. If your heart is truly in serving others, you will take that leadership position that will let you help as many people as you can, YOUR way.
“But I have a family and don’t have the time to do all this extra stuff to get out of the day to day grind” => It’s a vicious circle that won’t stop until you stop it. What’s the alternative? At this rate you’re just going to keep going until you either retire or you say enough is enough and sacrifice a year to gain ten. It won’t be easy adding more to your plate, but consider if everything on your plate right now is TRULY vital. Inside and outside of your business. It’s only temporary anyways.
“But no one can do this as well as me” => Hiring and training are skills just like anything else. You learned everything it took to get to here, BUT you can’t spend some time and write off some mistakes with hiring and training? Come on.
“But I just want a little passive income, not millions” => If you’re vital to the day-to-day operations, that isn’t passive income.
A lot of these TRULY stem from the fact that you don’t feel you’re good enough to run something larger than yourself. Good! Time to get better. You owe it to the world.
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