There’s a difference between being rich and being enriched. Being rich is to be abundantly ...
The number one challenge for baby boomer entrepreneurs is building a valuable, sellable company for ...
The value of your company is partially determined by your industry. For example, these days ...
What should be your number one business goal? As a smart and successful baby boomer entrepreneur, you probably each year set goals for top line revenues and bottom line profits. While these goals are important, there’s another goal which should be number one for an even bigger payoff: Building Business Value. Here are three reasons why […]
As a baby boomer entrepreneur, your behavior and daily activities should be congruent with your personal core values in order to create and experience an enriched life beyond your business. Moreover, your personal and business goals in life must be specific and conform as well with these core values. Otherwise, you’ll feel dissatisfied, never be truly […]
Being rich is having abundant valuable material “things” , such as houses, cars, jewels, etc, which money can buy. Being enriched is having a life that’s abundantly meaningful, substantial, and rewarding which money can’t buy. Having an enriched life is a noteworthy achievement. It’s not only about having lots of money. What does having an […]
I can say from first-hand experience that one of the biggest challenges I encountered while negotiating the sale of my business was negotiation fatigue. As an advisor to other baby boomer entrepreneurs, I strongly recommend that they mentally prepare themselves for a long, grueling transaction process and accept that it will be extremely emotional throughout. […]
For the baby boomer business owner, the decision to sell their business due to age causes anguish comparable to being told that they have a terminal disease. The following are three psychological roadblocks why owners don’t sell their business. 1. Loss of control and status. After years of “ruling” the business as the “boss”, it’s […]
Baby boomer entrepreneurs can have a lifetime of hard work result in disappointment and financial anxiety when they go to exchange the keys to their business for money. The following are four reasons why entrepreneurs fail to sell their business. Fear of the unknown. During buyout negotiations, selling owners come to realize that they have […]
Baby boomer entrepreneurs who say, “It’s my way or the highway.” can harm their business growth and value. Here’s why differences and disagreements make a business more valuable. Having differences among key employees is generally healthy and constructive. It brings diverse capabilities to discussions, decisions, and the work to be done. In building my business, […]
Here are five reasons why most baby boomer entrepreneurs won’t have a valuable business: 1. No planning and positioning for the oncoming demographic tsunami. During the next five to ten years, a huge wave of retiring boomer business owners will be overwhelming the merger and acquisition market place. This means that there’s going to be […]
Business valuation is a “subjective science” at best, and using the wrong method could deprive you from receiving millions of additional dollars for the rewards of your life’s work as a baby boomer entrepreneur. Strategic acquisitions usually produce the highest buyout price because the value is based upon what it’s worth in the acquirer’s hands. […]
Most baby boomer entrepreneurs will not successfully build sufficient equity value to ensure a lifetime of financial security beyond the business. The following are four psychological reasons why entrepreneurs fail to maximize business value. 1. Denial of mortality Nobody plans to fail, but most people fail to plan. Most especially, nobody wants to plan for dying before […]