If success is a destination – how do you know when you’ve arrived?
What does success look like to you as a business owner? Is it waking up in your multi-million-dollar home and choosing which of your five cars to drive to the office? Or is it financial security for you and your family? This might be where you aspire to be in five or even ten years’ time, or maybe it’s the life you’re living right now. Perhaps your dreams are bigger than this.
But what happens when you finally reach your destination – financial or otherwise? You’ve got the cars, the house, money for your family, the successful business – but what’s next? Will the milestone you set for your business move, or will you? Let’s take a look at a possible situation.
Through the eyes of himself and everyone around him, Jason is what’s considered a successful business owner. Every morning Jason wakes up at 6am, gulps down his scalding hot coffee, and is out the door by 6:30. If he has a couple minutes to spare, he likes to sit in his car and listen to the hum of engines from his neighbors’ cars as they set off to go about their day, before he too is consumed with the pressures of running a business. That is, all but one of his neighbors.
Each day without fail, the man who lives opposite Jason struts out his front door in his sweats, grabs the newspaper and proceeds to sip his coffee leisurely from his porch as he catches up with all that’s going on in the world. He looks so carefree.
Jason can’t remember the last time he read the paper from cover to cover, took the time to enjoy a coffee that had somewhat cooled or even set foot in a gym. He noticed the size of the man’s house is the same as his, the cars on his driveway are around the same value, and despite this his neighbor looked much younger, fitter, and happier than Jason. How could their days be so different?
Despite his curiosity Jason sends his neighbor a forced smile every morning, drives to his office, and continues to run his business. This routine continues for six months until one morning he decides to greet the man on the porch and ask him once and for all what he does for a living.
He flashes Jason a sympathetic smile, "I was a business owner for over 25 years. It was my life. But one day I realized I’d stopped doing the things I once loved – I couldn’t even find the time to read the paper in the morning. Sometimes you just need to take a step back and remember the one priceless thing money can’t buy. Time. So, I chose to exit my company, and now I’ve got it." He picked up his paper and took a long sip of his coffee. "This is my success."
While everyone has their own idea of what success looks like, how do we know when we’ve truly arrived? If your business is your life, it’s most likely your greatest asset, but as we get older our priorities sometimes shift and your business can begin to take a back seat.
Does success become sitting on your porch with the daily paper and a coffee as you watch your neighbors speed off to the office? Are you beginning to realize the importance of free time? Could exiting your company be the way to get it?
You might be considering exiting your business today, or even in five years’ time, but whenever you’re ready to go to market, you’ll need to know where to start. At Generational Equity, we provide owners with high-level business knowledge that allows them to exit their company at the right time, for its maximum value. Our complimentary conferences give insight into the entire process and explore a range of opportunities that can help your business grow. Why not join us? Just one day out of the office could be the best decision you've ever made. Whatever your goals, wherever your business is headed – it all starts with Generational Equity. We’ll get you there.