There will be plenty of time for you to reflect on that thought when you finally decide where to put all this stuff away. But I’m also making the case for some serious downsizing if you like, and even putting in the effort to make sure it’s going to be good for everyone’s needs.
First off, there’s the business end. When the company isn’t generating income, or is on its deathbed, it’s time to give that to someone else. The longer the business is around, the more likely the owner is to be able to find an investor willing to take over. And it’s not uncommon for a business with annual sales in the tens of millions to be around for a quarter of a century, so long as it keeps increasing in size the same or less than it did when the owner was still around.
However, in a world of ever-improving technology and competition, getting over a few million to sell on the secondary market is going to become very difficult. And if you do, you’ll probably only sell for a fraction of its retail cost (since it won’t be able to meet those high minimums), which translates to a lot of extra work on the back end.
On the other hand, if you get back in the game and continue to build out the business as you do today, you should be doing okay, especially when you consider just how little that original company was left over after it went public. I wouldn’t recommend, however, building out the business right away. You’ll be getting very good returns and you’ll be able to start building out your business much sooner. Instead, it’s more important to get the business up and running at a time when it might be the best decision for your personal situation.
What that means is, if you’re a salesperson or someone interested in selling, take a look at what else is out there! If anyone in the business has any good suggestions or feedback, send it to me at [email protected] . And again, don’t think of this essay as a blueprint. This is just what I’ve found, and what worked out for me in the present day that others might find helpful.