Author Topic: He declined to sell his business for 8 figures...  (Read 1333 times)

El_Viajero

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He declined to sell his business for 8 figures...
« on: September 12, 2017, 07:57:52 AM »
...because the money wouldn't make a fundamental difference in his life.

Here: https://medium.com/@wilreynolds/when-life-changing-money-isnt-c2f7d00a67f8


fattest_foot

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Re: He declined to sell his business for 8 figures...
« Reply #1 on: September 12, 2017, 08:23:52 AM »
I've realized that business owners are a different breed than I am.

I would see owning his business as unneeded stress and offloading it for millions of dollars like hitting the jackpot. My line of thinking would be more like, "I can sell for $50M or 100M; the extra $50M doesn't make as big a difference to my quality of life" versus his rationale.

El_Viajero

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Re: He declined to sell his business for 8 figures...
« Reply #2 on: September 13, 2017, 07:51:23 AM »
As a business owner (solo consultant here, but still), I actually do understand his point of view. It's his baby. He enjoys running it. What's he going to do otherwise? He's already made his millions via revenue from the business + not having debt + living below his means. Any additional money is superfluous. He's got the control, and he wants to keep it. If he sells the business, he'll lose the very thing he enjoys.

meghan88

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Re: He declined to sell his business for 8 figures...
« Reply #3 on: November 16, 2017, 09:29:56 AM »
It's an inspiring post.  Sounds like he's found his life's work.  And he is very aware of - and is doing a decent job of resisting - lifestyle creep.

FIREby35

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Re: He declined to sell his business for 8 figures...
« Reply #4 on: Today at 09:27:03 AM »
I understand him perfectly. That is the ultimate place for a small business owner. It's a combo of MMM and small business. I, for one, think its amazing.

SeaEhm

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Re: He declined to sell his business for 8 figures...
« Reply #5 on: Today at 09:54:36 AM »
I was talking to someone who has a 9 figure net worth and makes like $1,000,000 per month.

He's in his late 50s and works til 8pm every night. 

I asked him about when he wanted to retire.  He said that he needs to find someone whom he could trust to take over his company.   

People are driven for different things.  I remember thinking Mark Zuckerberg was an idiot for not selling Facebook for one billion dollars. Look at him now. Also, I am pretty sure that I would have sold Facebook for $1,000,000.  I would be in it to make a quick buck.  However, others aren't.
Just here to feel guilty about my purchases which are often irrational, wants, and in an atypical budget.