Dreaming big is essential, but let's not forget the often-overlooked truth about small businesses. ⁠

They may mean the world to us, but their market value might tell a different story. Seen it firsthand in the CPA community: many expect their lifetime's work to pay off big, only to face a harsh valuation reality at retirement. ⁠

Let's stay grounded, plan realistically, and understand our business's true worth. ⁠ #Entrepreneur #Business
Avatar of taxsavings

taxsavings

2024-04-14 11:41:59

while i fully support that you are building this incredible business and that hopefully it'll someday be the next amazon and worth billions of dollars the more typical experience for small business owners is that they spend their whole life working on this business that is going to always be more valuable to them than it's going to be to someone else and in the cpa community we see this all the time where cpa's will build these small businesses and they'll get towards retirement and think oh somebody out there is gonna pay me millions of dollars for this business i created and what they find is that the way those companies get valued doesn't pay out nearly as much as they had hoped you'd probably a lot of listeners who are in other industries and maybe those valuations are better but that's something that you need to make sure you're being very realistic about and not idealistic because if you wait until you're ready to retire to figure out what that really looks like it's probably way too late