This weeks question has me a little confused. It is not even a question. it’s more of a fill in the blanks statement. Basically, it says: I will sell my business when it produces -insert amount- per year, so I can do -insert whatever-. The reason I am confused is that I don’t think I would actually want to sell my business at all. I mean, great entrepreneurs like Barnum never sold their businesses and prospered. Sure his museums eventually burnt down, but he still lived well off of what they made before that happened.
I just can not see any reason to sell my business. That is, when I have one, for I am still young, and haven’t really begun one. But, when I do, I don’t think I would want to let it go if it makes a good living for me and whatever family I might have. Maybe I just don’t know how much a business is worth, but I’m sure that long term savings from a businesses income would result in more than what could possibly be offered. I’m not trying to be rebellious to my teacher, Gary North. On the contrary, I think he is a very wise man with a very wide range of knowledge on many topics. I just don’t think it is a statement that I myself would ever say.
Logically, I would want to keep a business that made, say, $200,000, $300,000, or even half a million a year. Any one would want that kind of income, so why sell it? I just don’t see how it adds up. Anyways, I would need an income, maybe not that huge, but at least a decent one, to support my calling. At least, that is what I call it. It’s just something I really want to do, and something I’ve always wanted to. That’s what a calling is, right? I guess there’s just a lot more that I need to know in order to change my mind about my answer. Maybe selling my business could make me a decent sum. I’ll never know for sure until the day comes when I am offered something for it. For now, I honestly don’t believe I would ever need to sell a business.