BUSINESS MINDS BLOG

Sticking a Toe (or Two) in the Exit Planning Pool

Sticking a Toe (or Two) in the Exit Planning Pool

  • Posted: Mar 21, 2017
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In this issue, we attempt to dismantle the most common objections owners have to undertaking the planning necessary to exit their companies successfully. Excuses to avoid Exit Planning include the following:

  1. The business isn’t worth enough to meet my financial needs. When it is, I’ll think about leaving.
  2. I will be required to work for a new owner for years.
  3. I don’t need to plan. When the business is ready, a buyer will find me.
  4. This business is my life! I can’t imagine my life without it!

 

Assuming we are successful in persuading you that Exit Planning not only helps your business while you are in it but also is the best way to leave the company to the successor you choose, on the date you choose, and for the amount of cash you want, you might ask, “How do I, as an owner, jump into Exit Planning?”

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SPIRIT OF AN ENTREPRENEUR

SPIRIT OF AN ENTREPRENEUR

  • Posted: Jan 21, 2016
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SPIRIT OF AN ENTREPRENEUR

An entrepreneur must be willing to risk everything he or she has in order to achieve success. They risk failure everyday for just the chance to succeed. They must be willing to earn less, risk more, work harder and stay optimistic in the face of total disaster.If you stick with it, work hard and refuse to give up, you’ll have more self-respect, more freedom, more security, and eventually more wealth than you ever thought possible.A publisher of a national business magazine once told me Houston was unique in one certain way.  He went on to say that going broke here didn’t carry the stigma it did in other cities. I think we Houstonians realize that for entrepreneurs; failure provides a learning curve and a chance to start over.   If you don’t take risks you will always work for someone who does.It’s not a crime to fail, it’s a crime to not try.If you’re having some difficult times and wondering if you’ll make it, trust me, there will be more difficult times in the future; it’s just part of it.  But if you stick with it, work hard, and refuse to give up, you’ll have more self-respect, more freedom, more security, and eventually more wealth than you ever thought possible.  It’s up to you. On the other hand, if the worst thing that can happen to you is that you fail, you can damn sure be rest assured you’re in “good company”.  And after all, here in Houston at least, it’s even admirable. An entrepreneur would rather work 80 hours a week doing something they love verses 40 for someone else.

 

Remember…
God’s Delay Is Not God’s Denial

Written by:    Dominick Caravella, III, President of Del Lingco International, Inc.

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