Walking away from a large piece of my life

[CU Tiger]

So I mentioned it last night in the ping drunk guy thread...but wanted to get some thoughts and perspectives from the masses here.

Looks like on June 1, 2011 I will be closing a deal to sale the company that I officially founded in 1998 but toiled with for 5-6 years on the side before stepping out on my own.

I never really thought about selling the business, I assumed my son would run it eventually and we would just remain, evolve, and adapt to changing times as we have done numerous times the last few years. (For those following along at home I own an electrical contracting company that has a number of divisions but by far the most profitable and largest is a home technology company. 10 years ago it was home networking, a few cat 5 runs, and patio speakers. Today its distributed media, custom theater rooms with rumble seats and cinema size screens...basically if it is a conductor and something flows through it we will specialize in it. At one time my guys wore shirts that said "If "juice" flows through it; By GOD we do it.") However one of my highest level employees approached me back around Christmas and said he wanted to own the company. His dad has a bunch of money and is his financial backer, and after a few brush offs...the numbers got down right staggering. 10 years revenue...12..15 15! years REVENUE paid up front....in exchange for a clean hand off and a 10 year non compete. No transition, no mentoring...just hand the keys and step away.
Simply put the money is too much.
The market has changed, the housing market isn't what it was...it may never be what it was again. This is a guaranteed cash out. This means my kids can go to any college they choose. This means I can actually spend time with my kids. Actually, you know, have a life other than my business. I can't say no....I don't think.

Obviously there is some consternation on my part or I wouldn't be posting this thread. Basically there are 3 things I am struggling with.

First, the owner. While the new owner is a very bright guy, and great at business execution he has the personality of a cinder block and will eventually alienate himself from every customer he has unless he changes so fundamentally I am not sure he is capable, or surrounds himself and empowers others which he has never shown the humility to do. Furthermore his business instincts are horrid at best. Quite often his first thought is the worst possible choice. We have a great relationship and he takes coaching better than anyone Ive ever met. He can think A is the only choice, and with a few minutes of explanation and convincing can adapt and immediately run with B like it was his idea all along. That said, he has no core. There are no standards he will uphold in the name ethics, morals, or beliefs. Simply put if there was money to be made with drive by assisted suicide clinics next door to retirement homes he would open one. So my concern is for the 72 employees and their families who today depend on me and my company to earn their living. If he fails, and I feel nearly certain he will, they will be hurt and, looking for income. I love every employee I have...I can tell you their wife/girlfriend/husband/boyfriend's name...their kids names...what pets they have...they are a large extended family. The thought of hurting them makes me cringe.

Second, the company, the brand, the logo, the image that I created. To sale it off to someone with very different ideas and visions than myself is almost akin to pimping out my daughter. It just feels wrong.

Third, and finally...what am I going to do 6/2/11 when I wake up...Typical day I leave home around 0400....head to the office....return home for dinner with the family around 1800 head back to the office and finally come home to sleep around 2100 and do it again. I have been taking weekends off the last year or so. I am waaaaay too young to retire...though with careful planning I think the money would be sufficient to do so if I chose.

Just I dont know...this place is full of level headed folks who often look at situations very differently from me and I would love to hear some thoughts and perspectives. Kinda a WWFD? (what would fofc do?)

[JonInMiddleGA]

If the revenue is indeed upfront (and there's no crazy red flags about the source of it, like it's going to be seized as drug proceeds or money laundering, etc) then I think you'd have to be batshit insane to turn it down. Even if the gift horse seems to have the wrong end at the front ;)

It's great that you have such concern for the employees, I mean that ... but your greater responsibility is to your own kids & family. You talked about the impact yourself, that cannot be ignored nor IMO even dismissed.

As for the "what am I gonna do now", the beauty is that you'll be blessed with the opportunity to make that decision, both short-term & long-term.
A good friend of mine went through some of that mental wrangling when selling off his business, I liked the attitude he reached. Basically that he doesn't consider himself retired & is pretty sure he'll eventually find himself back working in some fashion but until his boys are off to college (they were late MS & early HS when he sold), he's going to enjoy the unexpected time with them and not worry so much about what comes next.

I understand, at least to some extent, the dilemma you're feeling with this but based on what you've laid out here, this really seems like one of the biggest no-brainers I've run across in several years.

[Lathum]

Just my own personal anecdote.

My father owned his own business for 45 years, he owned a pharmacy and was also the pharmacist. My dad is 80 now and his store existed in a time before there was a pharmacy in every grocery store and Walmart. My Dad knew literally everyone in town. he was the town pharmacist.

With this came a tremendous amount of responsibility and he worked very long hours when I was a kid. I didn't see him much. Often he would come home late and eat dinner in his easy chair long after the rest of us had. He missed soccer games, etc...There were times when the power would go out and he would go sleep in the store because the alarm system wouldn't function. Open on many holidays, you get the point. He worked a lot.

Now don't get the wrong impression, my Dad was a good Dad, caring, loving, and involved as much as he could, he just worked hard to make a good living for his family. As an adult with my own family I appreciate that now.

Fast forward to about 15 years ago. Dad is 65 and still going strong (his Dad worked into his 90s, at my Dads store). He gets approached by CVS who wants to buy the store, including all the client records, etc...

At the time I didn't know any of this, but my father really struggled with the decision. He viewed a mom and pop pharmacy as one of the last bastions, ice cream counter and all. He felt a sense of obligation to his employees as well as the people of the community he had been caring for for the last 45 years. Plus it was all he had known. Ultimately he made the decision to sell because he knew he wouldn't get a better offer. They bought the business, but he still owns the building and the rent from him.

Sorry for the long post, but I guess the point is there will never feel like a "right" time and you have to take advantage when the opportunity comes. After my Dad sold he had a lot more time with his family. He traveled without the constant worry of the business in the back of his mind and kept busy with side projects, home improvement, etc...

I think your concerns are legit, but you are going to have to walk away at some point, and doing it while you are young and can enjoy the fruits of your labor with your family seems like a great opportunity.

[TroyF]

In my job, I support a lot of small businesses. Exit strategy is something that any business owner should always be aware of from the second they open their doors.

There are a lot of considerations, some of which you have brought up. One thing not often considered is this question: When will there be another chance to sell the business? There are a lot of ways to evaluate what a business is worth, but at the end of the day it's only worth what someone will pay you for it. If you pass up this chance, who knows when the next one will come up.

I appreciate your concern for your employees. It's terrific to actually have owners who are involved and care about their people. All of that said, this is your business, your life and your family.

As for what to do with the rest of your life, it's a rare chance very few people have. To wake up financially secure without a job and the ability to create your own future in the middle of your life.

Don't misconstrue any of this, if you truly want to keep your business you can do that as well. Just make sure you take everything into consideration and understand the costs, risks, happiness factor in all of it.

Good luck.

[stevew]

I think that taking the payout is a no-brainer, but with the caveat that you seem like a very active driven guy and you need to figure out at some point what you're going to do with the next stage of your life. Also with the weakening dollar, you're going to be missing out on the upside potential to adjust your prices to accomodate this. But it totally seems like madness not to walk away right now.

[Suburban Rhythm]

So I mentioned it last night in the ping drunk guy thread...but wanted to get some thoughts and perspectives from the masses here.

Looks like on June 1, 2011 I will be closing a deal to sale the company that I officially founded in 1998 but toiled with for 5-6 years on the side before stepping out on my own.

I never really thought about selling the business, I assumed my son would run it eventually and we would just remain, evolve, and adapt to changing times as we have done numerous times the last few years. (For those following along at home I own an electrical contracting company that has a number of divisions but by far the most profitable and largest is a home technology company. 10 years ago it was home networking, a few cat 5 runs, and patio speakers. Today its distributed media, custom theater rooms with rumble seats and cinema size screens...basically if it is a conductor and something flows through it we will specialize in it. At one time my guys wore shirts that said "If "juice" flows through it; By GOD we do it.") However one of my highest level employees approached me back around Christmas and said he wanted to own the company. His dad has a bunch of money and is his financial backer, and after a few brush offs...the numbers got down right staggering. 10 years revenue...12..15 15! years REVENUE paid up front....in exchange for a clean hand off and a 10 year non compete. No transition, no mentoring...just hand the keys and step away.

Curious here, is this his request? Or your decision? And if this could be adjusted would it change your mind at all? If it's his choice, I assume there is no changing it, but maybe staying on as a consultant for awhile would ease your concerns below?

Simply put the money is too much.
The market has changed, the housing market isn't what it was...it may never be what it was again. This is a guaranteed cash out. This means my kids can go to any college they choose. This means I can actually spend time with my kids. Actually, you know, have a life other than my business. I can't say no....I don't think.

Obviously there is some consternation on my part or I wouldn't be posting this thread. Basically there are 3 things I am struggling with.

First, the owner. While the new owner is a very bright guy, and great at business execution he has the personality of a cinder block and will eventually alienate himself from every customer he has unless he changes so fundamentally I am not sure he is capable, or surrounds himself and empowers others which he has never shown the humility to do. Furthermore his business instincts are horrid at best. Quite often his first thought is the worst possible choice. We have a great relationship and he takes coaching better than anyone Ive ever met. He can think A is the only choice, and with a few minutes of explanation and convincing can adapt and immediately run with B like it was his idea all along. That said, he has no core. There are no standards he will uphold in the name ethics, morals, or beliefs. Simply put if there was money to be made with drive by assisted suicide clinics next door to retirement homes he would open one. So my concern is for the 72 employees and their families who today depend on me and my company to earn their living. If he fails, and I feel nearly certain he will, they will be hurt and, looking for income. I love every employee I have...I can tell you their wife/girlfriend/husband/boyfriend's name...their kids names...what pets they have...they are a large extended family. The thought of hurting them makes me cringe.

Agree with what others have said re: it's nice to be concerned about them, but your ultimate responsibility is to yourself and your family.

Not really sure how you get around this one. Expressing your concerns to the current doesn't seem right

Second, the company, the brand, the logo, the image that I created. To sale it off to someone with very different ideas and visions than myself is almost akin to pimping out my daughter. It just feels wrong.

Third, and finally...what am I going to do 6/2/11 when I wake up...Typical day I leave home around 0400....head to the office....return home for dinner with the family around 1800 head back to the office and finally come home to sleep around 2100 and do it again. I have been taking weekends off the last year or so. I am waaaaay too young to retire...though with careful planning I think the money would be sufficient to do so if I chose.

Just I dont know...this place is full of level headed folks who often look at situations very differently from me and I would love to hear some thoughts and perspectives. Kinda a WWFD? (what would fofc do?)

With the non-compete, obviously you couldn't be in the same field, but you've obviously done a fantastic job of building your company. I'd imagine you'd be in demand in a consulting role to many other business that wouldn't violate the non-compete.

[Galaxy]

First off, congrats on such a success. 72 employees and an offer of 15 years worth of revenue is nothing to sneeze at. I love hearing business success stories like this.

Remember the old-age words of wisdom of people lying on their death bed not saying wishing they had work more. However, there is something to be said for waking up everyday and doing something you love. How does your wife feel about the offer?

Sounds like the new owner makes for a great employee, but would be a terrible owner/manager. Is he a "do it my way" or else" kind of person when it comes to dealing with employees and clients?

[Toddzilla]

Can you make it a term of the sale that the new owner change the name/logo./brand of the company within, say, 12-18 months? That way, by the time bad customer feelings set in, what you created will be free and clear.

[Philliesfan980]

I would think the brand name is essentially what he's purchasing (along with the customer base). It might be tough to get him to change it if he's paying 15x revenue.

[Galaxy]

I would think the brand name is essentially what he's purchasing (along with the customer base). It might be tough to get him to change it if he's paying 15x revenue.

The brand name is one the major assets that one would be after in a purchase.

[CU Tiger]

Wow...thanks for all the responses...there is definitely some great perspective here to sift through. Went to dinner with my brother tonight and probably should wait until tomorrow to post but I will try.

1) I had a brain shift there in my original post 72, is the number of "dependents" on our business...payroll employees is 31. A big difference, although it doesn't change the sentiment behind it...just wanted full disclosure there
2) The 15 year number sounds a bit better than it is. I would have to satisfy all outstanding debts with that number at closing. That would take a significant chunk (roughly 50%) but would still leave in excess of $2.5MM in my pocket...that may be a bit TMI...but just so we are all clear on the money I am talking.
3) Th new owner's retention of brand name would be a condition of sale. Other than our 3 buildings, contracts, and 20 vehicles it is the majority of what we have...plus a little inventory.
4) The thought of what could I sale it for tin the future is an interesting thought process...to be honest I never intended to exit. I thought I was building my son's career...something he actively says he looks forward to "owning dad's business" but he is 10 too.


Sounds like the new owner makes for a great employee, but would be a terrible owner/manager. Is he a "do it my way" or else" kind of person when it comes to dealing with employees and clients?
That is a great description, great employee shitty owner. However he is not my way or else at all. He is more just doesn't think things through. He is a great soldier and can carry out detailed plans in his sleep...but panics quickly or gets pigeon holed and doesn't see alternate solutions. Thats why I say the clean transition is a must....he is a military guy and takes orders from superiors without question. Thats why it would be a wasted attempt at consulting him, once I lost "authority" my opinion would mean jack to him...he thinks he is the smartest guy in the room...but its only because he steals everyone else's thoughts.

[Mustang]

At the end of the day you have to do what is right for you and your family.

You obviously built up a successful company, if you sell.. there is no reason for you to retire. Build a different company in a different area.

My gut says that what your business does is going to take a hit in the coming years. I know you are worried about the other people dependent on you, but if the business goes south because of the economy, the stress you will feel will be multiplied a hundred fold.

I sell. I take 6 months of and then I come back and design computer games on the side as a hobby/business. :)

(I'd put some language in though that the 10 year non compete claus is voided if he sells the company or the company goes out of business)

[DaddyTorgo]

Also - FYI - non-compete clauses like that that are industry-wide (as opposed to directed at not working with say a specific competitor) are regularly thrown out by courts. Not saying you should sign it in bad faith or anything, just saying.

[RPI-Fan]

Also - FYI - non-compete clauses like that that are industry-wide (as opposed to directed at not working with say a specific competitor) are regularly thrown out by courts. Not saying you should sign it in bad faith or anything, just saying.

This is an incredibly overly broad statement and most likely wholly inapplicable to this situation. Non-compete clauses may be "blue penciled", i.e. altered, (or, in unusual circumstances, thrown out) if deemed unreasonable. When bargained for in an arms-length negotiation like this, there is no reason to believe that a non-compete clause like the one described in the original post would be unreasonable.

*I am not a lawyer and this is not legal advice.

[JonInMiddleGA]

This is an incredibly overly broad statement and most likely wholly inapplicable to this situation.

+1

The enforceability of non-competes vary pretty widely depending upon the jurisdiction, state laws, etc.

[M GO BLUE!!!]

I was wondering about the jurisdiction particulars myself... Would this mean you couldn't start over again in another city? State? Or is he trying to install speakers on the moon?

[rjolley]

Good luck with everything CU. It's a tough choice, but I know I'd love to have that choice. The ability to get back in shape, coach basketball, and not worry about having to go into the office every day sounds like a great thing, at least for awhile.

[CU Tiger]

The non-compete is a non-issue for me. It would be very unlikely to hold up for an employee, but in this case the deal will be structured in such a way where the non-compete would have a dollar value assigned as part of the close, so that if I violated I would owe that amount in restitution.

Not an issue, despite the way it seems from some of my posts, the perspective new owner is a friend and if I give my word I would honor that.

Sure I could move off and try it again, but this is home. I have no intention of moving at least until the kids re in college...then bar owner on a tropical island sounds like a heck of a plan.

After a long talk with my wife, my brother, my 3 closest friends, and 2 message boards...I think I have reached peace with myself. I will probably give a thank you present (cash) to every employee based on tenure and benefit tome on the way out as a token of appreciation and to always plant the seed of "good boss" in their memory...just in case.

Now on to the next chapter...still don't know where to go there but I am excited to figure it out!

[CU Tiger]

Thanks for all the thoughts and advice!

[terpkristin]

Wow, I'm late to the thread, but good luck CU!!

/tk

[JonInMiddleGA]

I will probably give a thank you present (cash) to every employee based on tenure and benefit tome on the way out as a token of appreciation

Interestingly, that similarly situationed friend I mentioned up the thread did the same thing.

[DaddyTorgo]

+1

The enforceability of non-competes vary pretty widely depending upon the jurisdiction, state laws, etc.

Wasn't intended to be binding legal advice obviously - I'm no lawyer. Just saying that it's something worth looking into on his end if he wants to.

[Crapshoot]

Congrats dude. Only thing I'd suggest is asking the guy if he would you to stay on as a consultant or something, and it might keep you from driving your wife and others insane (staying at home). :D

[SteveMax58]

This is a good problem to have imho, CU. It sounds as if the guy that doesn't think things through hasn't thought this one through too well either. :)

Seriously though...I think you weigh what your family wants (read:wife) against the level that you feel you might be able to apply yourself to next. Right now, you may feel like this is what you know, what you care about, and will ever really care to be great at(or not). But if that's really the case(as opposed to just what your initial reactionary thought)...then money is not going to serve you as well. Most people will say that they can learn to like doing anything with enough money in the bank...but it isn't always the same. I would really ask yourself how much YOU value the relationships with your employees, the lifestyle, the company picnics, the friends that you have made, the friends your wife and kid(s) have made, etc. that owning this company provides YOU (and your family). Because rest assured...you may be very close with your business' employee/customer base right now, but things WILL change when the deal goes through and you will assuredly need to move on from those relationships no matter what anybody says (well, unless your brother works there or something I suppose).

Now...because I am not in this position right now, I can safely say it is an easy decision that I would take the offer & not look back. And financially speaking, I believe it is a ridiculous offer to turn down. 15x revenue on a business that (as mentioned earlier) may suffer due to changes in the economic landscape is EXACTLY when you want to sell. I also do not believe you need to consider the potential for mismanagement, and subsequent impact to your current employees, into your decision.

If you do decide to sell, you are probably savvy enough to do so, but you make sure you have caveats up the a$$ that void the non-compete in the event of the company's insolvency, sale, and also limit the coverage area or MSAs (or whatever you might use for marketing area),etc. Another item to consider might be to see how the business goes and potentially buy it back for half (or less) the price you were paid for it. Happens many times with buyers who don't quite understand what they are buying and this guy's rich dad could just finance your vacation and kids' college.

Either way...best of luck to you. And whatever your decision I'm sure it will be the right one, for the right reasons.

[judicial clerk]

Rock on. That is a nice little pile.

[stevew]

Bring some Tim Horton's to the Carolina's.

[RPI-Fan]

Wasn't intended to be binding legal advice obviously - I'm no lawyer. Just saying that it's something worth looking into on his end if he wants to.

That's fine, but I was offering context that makes it clear that the comment was an empty statement at best and more likely plain old misleading.

[DaddyTorgo]

That's fine, but I was offering context that makes it clear that the comment was an empty statement at best and more likely plain old misleading.

Depends on the laws in his state. :p

[jeff061]

Yeah, in Mass they don't go far. But that's from an employee perspective. Not sure about this situation.

Much respect for you getting yourself in the position to even be able to make this choice.

[RPI-Fan]

Depends on the laws in his state. :p

In this situation, it does not depend on the laws of his state (varied as they may be). I can assure you that in this fact situation in any state, CU Tiger would get little sympathy from a court (and sympathy is really all that loose enforcement of these is about).

Anyways, the bottom line is that this is a great situation for CU Tiger to be in and I'm incredibly glad to hear that he's been blessed with great family support to enable him to make this important decision.

[Butter]

Awesome, man. Congratulations on making that difficult decision, and best of luck on whatever you decide to do in the future (even if it is "house-husband").

I look forward to seeing you at a Clemson game or two in the near future.

[CU Tiger]

1 week away....
A strange peace in my life.
A lady called today all worked up over a failure of one of my guys, would normally have stressed me to no end. Then she said they were leaving in the AM for labor day vacation and wouldnt be back until 6/6....I assured her we would resolve it upon her return and tom call us then. When I wont give two shits about it....

there have been some interesting twists since I first posted here. Not sure I want to publicize them until this is final but I will then.

THANK YOU to everyone who offered guidance and encouragement in this thread..it definitely helped.

[stevew]

Awesome. Enjoy the Cam Newton era.

[Mustang]

Then she said they were leaving in the AM for labor day vacation and wouldnt be back until 6/6....I assured her we would resolve it upon her return and tom call us then. When I wont give two shits about it....


Leaving now for labor day vacation? Damn.. they going to Mars?

[Philliesfan980]

1 week away....
A strange peace in my life.
A lady called today all worked up over a failure of one of my guys, would normally have stressed me to no end. Then she said they were leaving in the AM for labor day vacation and wouldnt be back until 6/6....I assured her we would resolve it upon her return and tom call us then. When I wont give two shits about it....


I'm splitting hairs right now, and probably don't know what I'm talking about, but shouldn't you care about the work that was done while you were in charge of the company?

[CU Tiger]

Leaving now for labor day vacation? Damn.. they going to Mars?

labor day, memorial day..one of those minor holidays I have never taken off once in my life.....whatevs :D

I'm splitting hairs right now, and probably don't know what I'm talking about, but shouldn't you care about the work that was done while you were in charge of the company?

Should?
Yes. Absolutely.
Do?
Not so much anymore....like I said not quite the jovial baton passing I first envisioned. But money is green.

[Philliesfan980]

Boy, I'd hate to be a customer of yours during your last few weeks. Thank god you're not actually doing the work, or it might be even worse.

[cubboyroy1826]

Philliesfan it is kinda hard to judge not really knowing what is going on behind the scenes. Not saying CU should do shoddy work but I don't really think that is what he was referring to.

[stevew]

I'm pretty confident that he has always been obsessively compulsive about quality.

[JonInMiddleGA]

Philliesfan it is kinda hard to judge not really knowing what is going on behind the scenes. Not saying CU should do shoddy work but I don't really think that is what he was referring to.

Yep.

I thought it was actually pretty healthy that he was at least relatively able to let go of something I'm almost certain he will have absolutely zero ability to do anything about (my money is on the new owner now wanting him a million miles away from anything about the business once the sale goes through)

[CU Tiger]

Boy, I'd hate to be a customer of yours during your last few weeks. Thank god you're not actually doing the work, or it might be even worse.

Just curious what more I could really have done?
I didn;t give a detailed explanation last night, but I will for your sake.

She called in, raised hell, called us incompetent, called my receptionist a whore (no shit..over some damn speakers and a 4 inch damage to her sheetrock...now this young lady is a whore because she answered the phone) then DEMANDED that the owner call her within 24 hours. She was told the owner was always available and would she like to speak to him now. I listened to her complaint, admitted we were in the wrong (really the error is kinda stupid and the tech knew better than to leave and not address it...but we all have our days) explained how we would remedy the situation. She agreed that was the resolution she was looking for but said we couldn't come into her house until she returned. I told her to call us then to schedule. I hung up sent a detailed email to the new owner and the service manager with all her contact info and a description of the problem along with my resolution commitment.

In the past I would have LITERALLY lost sleep over a 5 year technician performing the way he did. Last night...I just chuckled and was thankful it was not an issue I was going to be involved with. This lady will not be happy with our repair, we will make multiple trips out there, end up paying more than her total payment much less our profit, and in the end she will still tell all her friends what a total cluster fuck we are. Ive been through it a million times, we will never satisfy her. had everything have gone perfect, her ultimate compliment would have been "They really didn't suck as bad as most contractors."

Sigh...now I stressed over it.

I can assure you no work that carries my name will ever be shoddy. Whether or not I let others perception define my self worth, will and has changed however.

BTW Jon, ding-muthertrucking-ding...and the smear campaign starts while I am still in the building.

[Philliesfan980]

Just curious what more I could really have done?
I didn;t give a detailed explanation last night, but I will for your sake.

She called in, raised hell, called us incompetent, called my receptionist a whore (no shit..over some damn speakers and a 4 inch damage to her sheetrock...now this young lady is a whore because she answered the phone) then DEMANDED that the owner call her within 24 hours. She was told the owner was always available and would she like to speak to him now. I listened to her complaint, admitted we were in the wrong (really the error is kinda stupid and the tech knew better than to leave and not address it...but we all have our days) explained how we would remedy the situation. She agreed that was the resolution she was looking for but said we couldn't come into her house until she returned. I told her to call us then to schedule. I hung up sent a detailed email to the new owner and the service manager with all her contact info and a description of the problem along with my resolution commitment.

In the past I would have LITERALLY lost sleep over a 5 year technician performing the way he did. Last night...I just chuckled and was thankful it was not an issue I was going to be involved with. This lady will not be happy with our repair, we will make multiple trips out there, end up paying more than her total payment much less our profit, and in the end she will still tell all her friends what a total cluster fuck we are. Ive been through it a million times, we will never satisfy her. had everything have gone perfect, her ultimate compliment would have been "They really didn't suck as bad as most contractors."

Sigh...now I stressed over it.

I can assure you no work that carries my name will ever be shoddy. Whether or not I let others perception define my self worth, will and has changed however.

BTW Jon, ding-muthertrucking-ding...and the smear campaign starts while I am still in the building.

OK, fair enough - I apologize for not knowing all the facts of the situation. It just sounded like you were making a blanket statement that you didn't really care what kind of work you did during the "lame duck" phase. As a manager, I've seen it plenty of times with my employees (I work in Accounting - so a bit of a different realm).

You're right though, some people you can never satisfy, and you really regret taking on the work.

[cubboyroy1826]

CU I will admit I am jealous and understand the neverending quest to satisfy the customer that is never happy.

[CU Tiger]

And it is done....
Walked out of the lawyer's ofice at 12:10 a former business owner.
Guess I now count towards the unemployed statistic, heh.
First day in my life since I was 15 years old that I can say I do not have a job.
Strangely I feel sad. Not in the death of a loved one sad but in that second date was a bust and had such high hopes after the first date sad.

Today is also the kids first day out of school for summer. I called my wife when I walked out of the meeting and my 10 year old son got on the phone. He is so grown up but still so young. He says, "Dad did everything go good at the lawyer's?"
"Yes. It went fine son."
"Good. Can we go fishing this afternoon? You should have free time now, right?"

Have to admit. That one pulled a tear out. So I will finish up my thoughts on the aforementioned drama later if anyone cares. For now we got a fish to catch. I am REALLY looking forwad to this summer like none other, well since maybe I was 10.

[cubboyroy1826]

Get a job you slacker. :)

I think this may be your best summer in a long time. I assume at some point you may get bored but when that feeling hits grab the fishing pole and your son and go fishing. Enjoy CU.

[johnnyshaka]

Happy for you and jealous of you, too...enjoy!

[I. J. Reilly]

Congrats CU. Fishing with your son on a Wednesday afternoon; that’s living the dream man.

[DanGarion]

Have a great time fishing spending time with your son fishing, you have earned it!

[MacroGuru]

I haven't said anything but have read this thread with great interest.

I truly admire you for what you have built and then taking the no brainer exit plan. I know earlier it didn't look like it. But I have had many friends not walk away and regret it years later as other factors dictate they can't walk away anymore.

That phone conversation with your son, that right there should solidify that you have made the right decision.

Enjoy the fishing

[FrogMan]

And it is done....
Walked out of the lawyer's ofice at 12:10 a former business owner.
Guess I now count towards the unemployed statistic, heh.
First day in my life since I was 15 years old that I can say I do not have a job.
Strangely I feel sad. Not in the death of a loved one sad but in that second date was a bust and had such high hopes after the first date sad.

Today is also the kids first day out of school for summer. I called my wife when I walked out of the meeting and my 10 year old son got on the phone. He is so grown up but still so young. He says, "Dad did everything go good at the lawyer's?"
"Yes. It went fine son."
"Good. Can we go fishing this afternoon? You should have free time now, right?"

Have to admit. That one pulled a tear out. So I will finish up my thoughts on the aforementioned drama later if anyone cares. For now we got a fish to catch. I am REALLY looking forwad to this summer like none other, well since maybe I was 10.

I sure hope it pulled a tear out you cause it sure got me all misty eyed.

Been reading this thread as I get ready to start my own dojo and see all the time commitment it will take to make it work. Kudos to you for building such a prosperous company and again, kudos to you for taking the no brainer offer and running away with it.

Enjoy the time with your family, you deserve it, you worked for it. :)

FM

[PackerFanatic]

I haven't said anything but have read this thread with great interest.

I truly admire you for what you have built and then taking the no brainer exit plan. I know earlier it didn't look like it. But I have had many friends not walk away and regret it years later as other factors dictate they can't walk away anymore.

That phone conversation with your son, that right there should solidify that you have made the right decision.

Enjoy the fishing

Ditto - congrats, CU, and enjoy your "time off" - you've earned it!

[JonInMiddleGA]

Have to admit. That one pulled a tear out.

If it didn't, you'd prolly be an asshat ;)

Since you're not, I'll give you something to chew on after the fishing.

There's likely going to be some moments in the weeks & months ahead where you feel like you're not doing something you should be doing, or that you're slacking somehow. F' that, you earned this situation & you ought not ever forget that.

[Galaxy]

But I have had many friends not walk away and regret it years later as other factors dictate they can't walk away anymore.



I think in business the first offer is usually the best when it comes to selling an asset.

[Toddzilla]

Congratulations and best wishes, man. Live the life you've always wanted to!

[albionmoonlight]

(1) Enjoy the fruits of your labors.

(2) There will come a time, probably sooner rather than later, when you end up a bit restless. I don't see how you can go from working as hard as you did to not working and not end up restless.

I think that the mistake would be to try to jump into something too quickly. Wait and see what really speaks to you. You have talent and energy and the financial freedom to do whatever you want. That is a potent combination. Any sort of charitable/religious/political/educational/whatever cause motivates you can become the focus of your energy. Pretty heady stuff.