Sharing Daily Discoveries About Personal Finance And Business Topics

Becoming Emotionally Unattached To A Business

business and finance

This was kind of strange. There was a conversation that came up amongst a few people in terms of what their exit strategies were when it came to the businesses that they made. For example, if someone offered them X amount of dollars would they sell it? For that, assume the offer is say five times the market value of what your company is worth.

There was then a debate how some people make an error by not accepting offers like that simply based on the sentimental fact that they grew the business from ground up and so they just can’t bare to sell it to someone else. Even if they knew that fact wise taking that offer is probably better financially. So the advice was that when you create a business you have to learn to just treat it as that where if it makes sense financially there should be no emotional attachment to your decision making process.

Kind of strange when you think about it as being attached to a business emotionally is usually what gives people the motivation to make it successful. That passion is usually the major difference in why some people succeed and some don’t I’d say. I do remember one example though that was kind of funny in regards to this.

Basically, there was a person that built a computer parts company from ground up and made it successful. So successful that a large corporation wanted to buy it out and that as part of their division. Sure enough, they offer him so much that he took the deal. Then guess what? Afterwards he simply left the company he sold and created the same business again. Funny enough, his new business overshadowed the one he sold. While it obviously the business had to be run with a new identity and all, he just won both way in that case.

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