What is your business worth? 1:16 DW Own a Business Course Clip 5c

What is Your Business Worth? https://bizcourse.transitionbookbonus.com/1 While the business brings in plenty of cash, which owners have invested in other assets. What is it really worth? None of the children want to join the family business, but who would buy…

What is your business worth? 1:16 DW Own a Business Course Clip 5c

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What is Your Business Worth? https://bizcourse.transitionbookbonus.com/1
While the business brings in plenty of cash, which owners have invested in other assets. What is it really worth? None of the children want to join the family business, but who would buy it? The owners are so important to the brand that they’re almost irreplaceable.

The business has become almost a lodestone that ties them down rather than something that facilitates their lifestyle as the family has grown and spread their own wings.

While I enjoyed growing their business and doing all the tasks within business context, in the back of my mind, I didn’t want to end up like them. I didn’t want a business that tied me down and kept me from doing the other things I wanted in life.

I wanted a genuine answer to my client’s question [What happens to the business if I/you get hit by a bus?]. In addition, I was unable to keep working 60 hour work weeks.

Having made this assessment of where I was at and where I didn’t want to end up there was one inescapable conclusion; that I needed to turn this into a business asset that could serve me and my lifestyle.

As a third party advisor to #familyoffice and #familybusiness I often help guide the #intergenerational parties to a win-win-win result. For more in-depth, thought-provoking discussion points and commentary on family and business, sign-up to gain access to the archives of my Family Matters newsletter: https://www.transitionbook.co/family-matters

#intergenerationalequity #wealthsuccessionplanning #familyofficegovernance #nextgen #familyoffice #wealthmanagement #familybusiness

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