About nine years ago, a respected and successful business owner that I know announced to his family and friends that he was going to sell his business in five years and retire. With some fanfare, he circled the date on a calendar, kissed his wife and smiled broadly.
Four and half years later, he initiated a major shift in his business that just about killed him and his company.
He lost customers, salespeople and employees. He lost his health. He lost respect and dignity. He permanently damaged family relations. He nearly committed suicide. And he lost 75% of the value of his business over the next two years.
When I learned what happened, I wondered why he did what he did. With so much going for him, why make such a horrible decision that turned out so badly? Could it have been avoided if someone said to him nine years ago, “You have a five year goal, so let’s get started. Let’s take small steps forward every month so in five years you’re ready to stand back and let someone else take over your business.”
I looked around to see if such a program or process existed. Something that could have made his personal transition and the sale of his business successful. But I couldn’t find anything.
So for the past four years I’ve researched, learned, and developed ideas and strategies and checkpoints that would have saved him a lot of grief and regret.
Of course we all want to believe that we’re smarter than this guy. You wouldn’t let that happen to you. And you’re probably right. From the outside looking in, there is no justifiable rationale for what he did. That’s the thing about decisions. They seem to make sense at the time. With hindsight or an objective perspective, decisions like that don’t pass the test.
I’d like to share some of the great ideas and tips we gathered during our research. There’s no need for you to make costly and irreparable mistakes that someone else has already made and learned from.
You’re invited to join Brian Ogilvie (with Procorp Financial Technologies) and me for a Breakfast seminar that is guaranteed to give you some lucrative and practical ideas you haven’t considered yet. You’ll be getting information that our unfortunate friend in the above story wished he’d had nine years ago. It would have changed his life in so many ways.
Please join us on June 20th, 2012 at the Charcoal Steakhouse, 2980 King St E, Kitchener, ON. See details at Who’s Driving Your Car and please call if you have any questions.
Expect The Best!
CEO & Founder of The Achievement Centre International,
Author of The Business Transition Crisis, and The Business Transition Coach Forum™