What stepping back feels like

Eventually, most business owners start thinking about retirement, or at least slowing down a little bit.

What they’ve done all day for so many years might not be how they want to spend the rest of their lives.

So one of our jobs is to help them prepare for what life looks like after they retire, or exit the business.

Because stepping back from your business might bring up a lot of emotions you weren’t exactly ready for, or even expecting at all.

We’ve heard from owners that they experienced a lot more anxiety than they thought they would. Because that question, “What am I going to do with myself every day?” looms over them.

But even before they get there, they might be struggling with another question: “Can I even afford to exit this business?” 

And what would be enough?

It turns out, though, that that’s one of the easier questions to answer. We can run the numbers, crunch the data, and estimate what a sale might need to look like to support your desired lifestyle, based on stated assumptions about factors such as taxes, spending, timing, and investment returns. 

The hard part is figuring out what you’re going to do without the business, and how you’re going to be happy without working on it every day.

I like to say, “You can only play so much golf.”

So we help our clients get really clear on their bigger goals, their purpose, and what a satisfying and fulfilling and fun life looks like outside of the business that’s been their whole life so far.

I knew someone who exited their business with a multi-million-dollar check who went right back to work the next day, without even pausing to celebrate. But it wasn’t because they loved the job, it was because they didn’t know what else to do.

When you work with us, though, there’s going to be a celebration if you sell. Not just about the money, but about what that money and freedom now affords.

Because we’ve made sure you’ve got a plan. That you’ve got a purpose you’re working toward.

That you got more than a check, you got more freedom.

I spent many years building our team at HFM so that, one day, the team won’t need me in the business every day to be successful.

And, I’ll admit, that was an emotional process. It doesn’t always feel good to recognize that you’re not as needed as you used to be.

But that’s a cause for celebration, not for sadness.

Because it means you built something that can live beyond you, whether that’s with another owner who buys it, or with a successor who takes it over from you.

So if you’ve thought about selling your business, I hope you’ll give us a call before you start the process.

We can help you build a plan with purpose and the right people behind you as you work toward your goals. Outcomes aren’t guaranteed and depend on factors beyond our control. 

For your exit, but also for your newfound freedom.

-Michael

Book a JobWalk with me and we can start the conversation.

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HFM Investment Advisors, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. All investments involve risk and are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as a recommendation appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment advisor to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.