Frank and Wanda (not their real names) are avid golfers. Members at one of Nashville’s finest country clubs, they play at least once a week. They even take an annual golf vacation, sometimes to the home of golf in Scotland. I recently met Frank and Wanda via a Zoom call on the recommendation of their wealth planner. They are interested in selling the company they started in the late ‘90s. They told me they decided Read More
One Thoughtless Comment, Say Goodbye to $35 Million
Don (not his real name) was smart, but his errant comment cost him $35 million. In just 12 years, he had built his company to be the largest in his industry. Don was a rock star, and his company’s future was bright. But Don had taken the company as far as he wanted to take it. Though just 44 years old, he was ready to sell the company and realize his life’s ambition to play golf on six continents (did you know, Read More
The Unsellability of Self-Employment
“You’re telling me my business makes $250,000 a year and I can’t sell it? That makes no sense to me.” Jack (not his real name) was moving to Cincinnati because his wife had just received a promotion that required her to move. “I love what I’m doing here,” he told me, “but I want and need to be with my wife. That’s why I’m selling a business that I love.” I normally don’t get involved in the sale of businesses this Read More
