The fact of the matter is, the system is rigged against 96 out of 100 small business owners.
Donald Trump and Bernie Sanders can bloviate all they want from the podium about a rigged political system, and most people on both sides of the isle agree with them.
Put politics aside for the moment because this is about the small business owner – and the system is totally rigged against about 96 % of them – that is, the ones lucky enough to survive the first 10 years in business.
In this article, I’m going to pull back the curtain in the small business arena.
If you listen to, and do what the “System” says, your chance of getting screwed is 96 out of 100.
Yep – you will work your ass off, sacrificing family, time, money and more, juggling money, scrimping and saving, re-investing, working long hours in hopes of one day being able to sell or hand over the business to a family member and retire.
…. And if you’re one of the lucky 4 out of 100, you will.
If You Take Any 100 Businesses That Are Put Up For Sale,
The cold hard facts are this:
Yep – 80 out of 100 businesses are never sold when the times comes, and the owners end up closing their doors. Dreams shattered, jobs lost and careers crushed.
The business owner’s face awash in tears, souls screaming. Leaving in its wake a path of jobs lost, families destroyed, shattered dreams and fortunes evaporated once the key is removed from the door the last and final time.
Enough is enough – and I don’t give a crap what “The System” has to say.
I’ve had enough and refuse to keep my mouth shut any longer –
If you’re like most business owners, you go into business because you believed it would give you:
Unfortunately, what you ended up getting was a heartless, unappreciative and demanding boss.
You were used and abused, overworked, underpaid, not appreciated, and you sacrificed everything.
You believed there would come a day when it would all work out and you would be able to afford to do things that would make up for the sacrifices you made earlier.
You figured that one day, you would also be able to sell the business and retire off of the fruits of your labor, or perhaps hand the business down to a family member and live off a comfortable pension.
Instead, you ended up with a business that owns you, and in many cases, a family that has left you.
None of the kids want the business because they have no intention of working as hard as you did. In fact, all of the sacrifices you made for the business left such a bad taste in their mouths, that they went ahead and settled for a dead end job somewhere because of it.
Sucks doesn’t it?
If you’re lucky enough to have survived in business for more than 10 years, you’re much better than about 80% of the others. Now comes the time you begin thinking about exiting the business and this brings on a whole bunch of other challenges.
So now, it’s 10 to 40 years later, you finally have had enough and decide to sell the business. Problem is, it’s not worth a damn thing.
You can’t sell it because you unknowingly got “Sucked Into The System.”
No-one wants to buy it and work as hard as you do, if they did, the kids would have taken over.
The business has been paying for your lifestyle and even though it makes money, it doesn’t show a profit on paper for tax reasons. Your accountant did a good job over the years when it came to avoiding paying taxes, (one of the ways the system is rigged for business owners), but that same person who helped you avoid paying taxes over the years has no clue what-so-ever as to what needs to be done to sell the business – they shouldn’t – it’s not their job.
So naturally, not knowing what else to do, you seek the advice of a few trusted friends, or maybe you ask your attorney or accountant.
After listening to the WRONG advice, you place a “pie-in-the-sky” price on the business and attempt to sell It yourself.
A year goes by with countless phone inquiries and emails, you end up showing it a few times to people who don’t have two nickels to rub together, and it has proved to be nothing more than a huge waste of time. Now, a year later, you’re sick and tired of being sick and tired and want out!
You mentally checked out a couple years ago and it’s no longer fun going into work, the employees drive you nuts, when you’re forced to deal with a customer, it’s like fingernails on a chalkboard, and life becomes more and more miserable as time goes on.
Because it’s not fun and you want out, sales begin diminishing, profits are shrinking, and employees move on, and all of a sudden, your stuck holding a big bag of crap.
Now you’re really in a pickle and decide to try listing it with a business broker.
You ask around and maybe go online and settle on the first one you come across. They promise you the world, and list it at the price you set. You don’t know it yet, but you just made another mistake because this person isn’t worth their salt – if they were, they would have told you the truth.
Your business is no longer sellable at its present condition, or it is listed at way too high of a price.
So your agony is prolonged.
The other option, is you just walk away – you hold a liquidation sale and sell all of the assets and inventory you have left, turn the lights out, lock the door behind you and never look back.
All you had sacrificed and all you had worked for – gone – like a puff of smoke and what do you have to show for it?
If you’re lucky, you’re still married and your kids still like you.
Every day your dream of retiring one day is slipping away and slowly being replaced with the horror of maybe having to go get a job somewhere for minimum wage just so you can eat!
Don’t shoot the messenger here – I’m simply telling you like it is.
Only TWENTY Out of 100 Business Ever Sell, Leaving The Other EIGHTY Behind.
The whole damn system is rigged and if you don’t get the right answers, the numbers are stacked against you.
So what do you do?
What SHOULD You Do?
You hire a business exit coach at least a year before the time comes for you to sell.
Someone with experience who will listen and learn about your business, and listen and learn about you and your goals.
Call This Business Exit Coach ==>
For a FREE 30 Min. Business Exit Coaching Session
When it comes to designing an exit strategy. there is no such thing as a “One Size Fit’s All” program, and you need someone who is willing to work with you and do what’s necessary to develop a customized business exit strategy.
If you’re still reading this, you want answers – and I can give them to you.
I’ll tell you what you NEED to Hear – not what you want to hear.
I can help you change the odds from against you to for you.
If you want – straight forward and professional answers, without any double talk or runaround, you need to contact me.
I can help you get on the right track and stack the deck in YOUR favor instead of the other way around.
Business is one of the great games of life.
Regardless how you play it, there comes a time you arrive at the finish line and the way you leave the game is up to you. If you put the right players in the right position, you will win. If you don’t you lose.
So now it’s up to you – how do you want to play?
Contact me if you want to “Stack The Deck” in your favor.
FREE 30 minute Business Exit Strategy and Coaching Session.
If not, I wish you good luck – because you’re going to need it.
Paul Forsberg is a Business Growth Coach Who Specializes in Self Employed Business Professionals "Make The Phone Ring With Quality Leads, So They Can Get More Customers, & Make More Money." Author of the #1 Amazon Best Selling Business Book "The 5 Fundamental Elements of Every Successful Business .... Why Most Businesses Cannot Be Sold & What You Can Do About It." You can reach him by email at Paul@PBForsberg.com
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