I've bought over 200 businesses and have talked to the sellers of these businesses at length. And you want to know something I've noticed?
Even if somebody tells you theyre going to retire, most people in business dont retire. Lifes just too boring. This is no joke. You go out, you make your money, and you have money in the bank. Lots of money in the bank. Usually more than you can ever hope to spend in your lifetime. And so, when you retire, you might play golf or something, which lasts for about one day, and then you want to own another company.
In fact, I can truthfully say I dont have any friends Ive known in business for more than a couple of years that have "retired". All of them have been in business many, many years like I have. And just like them, I have no desire to retire; I want to keep doing this.
In my circle of friends of business owners, you never hear the R word, retirement. The only people I hear talking about retirement are people who work for someone else. I still dont understand that. Obviously working for someone else isnt very gratifying. When youre in business for yourself thats all you want to do. In fact, after we sold the businesses in Mexico a couple of years ago, I retired for the fifth time!
It sounds strange, but the longest I've ever retired for has been, literally, about one hour. It never works.
Why am I telling you this?
Because buying businesses is intoxicating. It's fun. When you do it, and get good at it, it's all you want to do. And it's not even close to being as mysterious or difficult as the media, the college professors or business tycoons on Wall Street try to make it out to be. |
