What is the end game for your business?

16 replies
We rarely talk about this, but what would you consider to be the end game for your business? And how did you arrive at this conclusion?

For many people it is resell (being acquired by a large company), but I rarely hear about it in the WF, which is somewhat surprising.

Would you rather be a serial entrepreneur? Or dedicate your life to one business? Corner the market and crush all competitors? Be a niche consultant or scale ad infinitum?

Just curious to hear what motivates people and what colors their perspective.
#business #end #game
  • Profile picture of the author NeedBucksNow
    Hmmm... Interesting post & never thought about an end to it before. I would say just to have something I could build up that would continue to pay even after I retire. Then I could pay people to keep it up for me though
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  • Profile picture of the author Scott Murdaugh
    My end game is to build up an amazing team of talent and purchase or partner with under-optimized companies, overhaul their marketing/business models and either flip them or hold them depending on the circumstances.

    There are lots of businesses out there with untapped potential, lots of tired owners wanting to cash out and more opportunities than I could ever possibly capitalize on.

    That's the plan for now.
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    • Profile picture of the author vndnbrgj
      My "end game" is very similar to Scott's.
      In my main business, I plan to scale and scale.
      In my HVAC biz, I plan to grow and sell.
      In my roofing biz, it is grow and hold.
      In future acqusitions, it will depend on how things play out.

      Originally Posted by Scott Murdaugh View Post

      My end game is to build up an amazing team of talent and purchase or partner with under-optimized companies, overhaul their marketing/business models and either flip them or hold them depending on the circumstances.

      There are lots of businesses out there with untapped potential, lots of tired owners wanting to cash out and more opportunities than I could ever possibly capitalize on.

      That's the plan for now.
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  • Profile picture of the author 9AppAve
    Originally Posted by socialentry View Post

    We rarely talk about this, but what would you consider to be the end game for your business? And how did you arrive at this conclusion?

    For many people it is resell (being acquired by a large company), but I rarely hear about it in the WF, which is somewhat surprising.

    Would you rather be a serial entrepreneur? Or dedicate your life to one business? Corner the market and crush all competitors? Be a niche consultant or scale ad infinitum?

    Just curious to hear what motivates people and what colors their perspective.
    Great question, this is something I have considerable experience with, I believe why this isn't asked much is everyone tends to live in the moment.... Unfortunately my guess is that a large
    majority of the businesses on WF are are not accuisition ready, either they are not large enough nor have the right model and or structure.

    I will say this from my experience, if your making a high 6 / 7 figure living and your business is not growing, one should either be looking to buy or sell. Status quo never seems to stick long term, I have seen it time and time again.
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    • Profile picture of the author jimbo13
      Sell otherwise you are never realising the work put in.

      Even Apple is up for sale right as we speak.

      Dan
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      • Profile picture of the author qu4rk
        My end-game is to sell. Then, I will consult a handful of clients after my non-compete expires.
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        • Profile picture of the author 9AppAve
          Originally Posted by qu4rk View Post

          My end-game is to sell. Then, I will consult a handful of clients after my non-compete expires.
          Also keep in mind, when the time comes, non-competes are almost always able to be negotiated within the structure of the overall deal...
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  • Profile picture of the author Claude Whitacre
    Originally Posted by socialentry View Post

    We rarely talk about this, but what would you consider to be the end game for your business? And how did you arrive at this conclusion?
    .
    That's an incredibly smart question. When someone talks to me about stating a new business, one of the questions is "How will you end the business?"

    Personally, my business will slowly die. I'll close my store, keep writing, and speaking a little......

    Out with a whimper, not a bang.

    My retail store? I won't sell it probably, but I'll have a "Going out of business" sale, and then close the doors. But it's just soooo little work...it's hard to kill it.
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    • Profile picture of the author ewenmack
      [QUOTE=Claude Whitacre;9684233

      My retail store? I won't sell it probably, but I'll have a "Going out of business" sale, and then close the doors. But it's just soooo little work...it's hard to kill it.[/QUOTE]

      Why would you not sell, when you are ready?

      Seems to me a valuable asset, especially if it takes soo little work.

      Back in the days of my lawnmowing business,
      I was amazed at how many operators would
      just walk away from the biz without realizing
      their asset.

      Me, I made it my business to build up and sell
      lawnmowing businesses.

      A young guy who built up and sold different businesses,
      said you make more money selling businesses than
      running them.

      Once you get good at building a business
      you can transfer that skill set to many different
      types then capitalize on it.

      The richest people on the planet sell shares in their companies,
      which is another form of selling. Franchising and licensing is another.

      Of course it's a lifestyle choice.

      Best,
      Doctor E. Vile
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  • Profile picture of the author bizgrower
    That is a very good question. Many owners hope to have some kind of retirement income from their business and hope their kids will run it - or something like that. They fail to structure it so it is sellable or
    able to run after they are retired.
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  • Profile picture of the author Peter Lessard
    This is something more people should think about!

    I know your question is about the end to a business but for many on here that translates into deeper hopes for a certain lifestyle, riches etc...

    Telling everyone my end game does not really bring value since it's my end game.
    The best thing I can add is to ask a question.

    Where is it written that YOU get to choose when the whistle sounds the end? And I am not referring to just kicking the bucket. Health, family, market conditions, many things can bring ventures to a screeching halt.

    I was taught by a mentor decades ago to visualize the end of something and see if I liked it. If not, don't even start. This philosophy polices my decisions to this day. If I can't visualize an ending I like I don't engage in the process.

    We have this luxury in business but in life we don't get to control some of the processes that are thrust upon us. All you can do then is use your skills and character to bring about the best conclusion possible and generally most important use your faith to assume the new reality with as much appreciation as possible.

    What shocks me most about humans is their contradictions.
    The guy that is working 60 hour weeks at stuff he hates but plans on retiring and living some dream life on an island somewhere when he is 55 but at 40 he is smoking, overweight and destroying his liver and on his way to divorce. Really? Sure I see an island dream life in your future...

    I see a million derivatives of this. I look at peoples lives like a movie. They picture this particular ending. I look at their plot and character and think dude you must be nuts if you think this is how your movie ends.

    By applying this to my own life I decided since I have no clue when the end actually is that as much as possible I will work on what I enjoy, spend time with who I enjoy and focus on many many micro endings to things as opposed to the ultimate exit strategy.

    Over the past 15 years I have already lived a lifestyle that most people claim they would kill for but of course since they are not the same personality type I would warn them "be careful what you ask for" but thats an entirely different thread :-)

    By living the way I do TODAY I don't care if I ever "retire". Why should I, this is fun. With my approach it is not keeping me from anyone or anything since places and people are already built into my existing life as a top priority.

    What will retire me is death or someone I care about requiring 100% of my attention. At that point if I am fortunate enough to have built enough residual incomes I will be of greater value to whomever needs me. If its me kicking the bucket I will have left more to those I care about but to be honest I am far more concerned with leaving them skills and beliefs that will get them through when money evaporates.
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  • Profile picture of the author James Stark
    Originally Posted by socialentry View Post

    We rarely talk about this, but what would you consider to be the end game for your business? And how did you arrive at this conclusion?

    For many people it is resell (being acquired by a large company), but I rarely hear about it in the WF, which is somewhat surprising.

    Would you rather be a serial entrepreneur? Or dedicate your life to one business? Corner the market and crush all competitors? Be a niche consultant or scale ad infinitum?

    Just curious to hear what motivates people and what colors their perspective.
    For me there really is no end game, my business is ME, and I am my business. I feel that it is an embodiment of myself, once I die, I hope to pass it on to my children, or have it die with me.
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  • Profile picture of the author amcg
    The end game for me, and probably many others, is freedom. It's that simple; you get freedom to do what you want with your time on the earth.
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  • Profile picture of the author BillyParadise
    Beaches and margaritas. Build passive income. Relax.

    I've done it a couple of times, and unfortunately the income stream has withered sooner than I had expected. So this time Round, it's 3 separate businesses each with an active manager who is very well compensated as long as he keeps hitting his goals. I do like me my margaritas
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  • Profile picture of the author DaniMc
    I have 15 major goals for my life. I write them every single day with dates. The only time they leave the list is when they are accomplished. Here are a few, this is the endgame.

    Scale to $10 million + annual revenue.
    Control $100 million + real estate assets.
    Make the cover of Success magazine.

    Frame magazine on my wall. Sell the business. Keep the real estate. Do as much good in the world as possible.

    Unless I die first, These things will happen over the next 20 years.
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  • Profile picture of the author Bayo
    My end goal is that my lines of business fit around and support my lifestyle because "retirement" is not something I believe in. That's for people with a J.O.B.

    To live a full and accomplished life business must support that lifestyle now and into the future.
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