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 ...
As many of you know, I recently sold my business which I founded and nurtured for 25 years. At any given moment while growing the business, whatever what was in front of me on a daily basis was most important, my clients, my loyal staff, and managing all the details for ensuring business success. It’s […]
My time management is sometimes suspect to others, especially to my wife who is a fantastically fast and efficient multitasker. Me, I’m a focused and tenacious plodder and perfectionist. I enjoy my creativity and spirituality. So, I think and mull a lot and, therefore, appear to be wasting time. In my opinion, time management techniques […]
Many baby boomer entrepreneurs run a “business” that’s growing, but which will die when they’re no longer there to nurture it. Do you own a valuable business or a worthless job? There are eight drivers for building a valuable business. One of the drivers is termed Hub and Spoke. Are you the hub of your […]
Providing believable financial data having integrity is one of the biggest hurdles for baby boomer entrepreneurs to overcome. The following are five reasons why business financial data must be reliable: 1. Better management decision making. 2. Obtain financing necessary to operate the business. 3. Financial performance is an important value driver to maximize business value. […]
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 […]