When I set up my first business, I did it with the expectation I would soon be enjoying great wealth and an easy-going lifestyle.
I wouldn’t be like my friends who ‘worked’ for a living and answered to a boss. I would be a wealthy business owner, free to decide what hours I worked and with whom.
I’d get to enjoy personal and financial freedom that would be the envy of my employed friends.
It took me many years to realise that very few business owners get to enjoy such freedom. Most are glued to a desk, six or seven days a week. Their every waking hour is spent worrying about some aspect of the business: employees, overheads, taxes, cash flow…
More often than not, the company’s cash flow is so precarious that they don’t take a wage.
That was certainly my experience, especially in the early years of my businesses.
Fortunately, I discovered a few years ago that there was a way to be a wealthy business owner without experiencing the typical downsides (the stress, the exhaustion, the doubts and so on).
It came about when I decided to stop creating companies from scratch. Instead, I began acquiring and merging established businesses. And I did it without using a penny of my own money.
Here’s the thing: since I started doing this, I’ve found my wealth has increased and that I can finally enjoy that most precious of commodities: time.
I now have the time to enjoy the lifestyle that I dreamt of so many years ago. Yet, I only work a few hours a week.
Buying established companies means I bypass all the anxiety-inducing moments of a start-up company. Someone else has already gone through that.
I no longer have to endure the energy-sapping day-to-day demands of running a business. That’s because the businesses I own either have an experienced management team in place or they’re being run by the original owner.
Instead, I get to be a ‘consultant’, using my expertise to identify cost-saving measures and profit-boosting opportunities within the company.
And I get to enjoy the thrill of helping to grow a company to the point it can be sold for a big profit. When that pay-day happens, the original owner or the management team know they will also enjoy the rewards so it’s a win-win for us all.
If you are a stressed-out business owner, an ambitious entrepreneur looking for rapid expansion or a would-be business owner, I recommend you also consider acquiring and merging businesses (with the help of legal, accounting and taxation advisers, of course).
Like me, you’ll find that acquiring and merging businesses is a quicker and much easier route to wealth than creating your own company from scratch.
You won’t have to use your personal cash to buy the company so your investment will be low-risk.
You’ll have the satisfaction of using your expertise to help your investment company to grow so that it becomes an irresistible target for would-be buyers.
If you’re at the head of a merged company, you’ll know that it will attract far more interest than your original small one.
And provided you resist the temptation to get mired in the day-to-day running of the business, you’ll get to enjoy a lot more personal time too.
Like me, you’ll at last get to experience personal and financial freedom