Bill Gallagher tells business owners to stop expecting kids or employees to take over. Treat your business as a financial asset, not a legacy. Focus on serving clients and building wealth that gives you freedom, not on finding a successor.
I'm telling you as a business owner. Business owner. You will find your passion and you'll be more motivated to charge hell with a water pistol to help those people that you truly desire to help. All while knowing you took care of your clients or your customers, your vendors, your employees, your community all simultaneously. Friends. That's the dream. The business is an asset. It's not a legacy. Say it again. It's an asset. Your business is there to generate wealth. Statistically speaking, your kids don't want it. They've seen your stresses. Statistically speaking, your employees don't want it. So look at it as an asset like you would a stock or a piece of real estate, and know that it can create generational wealth for you and truly give you that freedom that you desired when you went into business to begin with.
