Sell Your Business... for Life-Changing Money? Understanding What Motivates You

MrJoe in Audio

The Unexpected Offer
Today, I'd like to share an enlightening story from a group I run for CEO founders who are preparing to sell their businesses.
One founder was casually offered $50 million over lunch to sell his company to a competitor. The offer came out of the blue, but he had a number in mind and threw it out: $50 million. The other CEO was agreeable. Suddenly, he found himself on the path to sell his business for a life-changing amount of money.
The Niggling Doubt
However, despite the excitement that comes with such an offer, he had a niggling doubt. This founder loved running his business, and things were going well. They were in the middle of an exciting redesign and relaunch. And when the other CEO expressed interest in buying his company, it revealed to him that there was potential in his business that he perhaps hadn't fully realized. This realization excited him more than the prospect of selling.
The Realization
When we talked about this, I noticed that his energy level and enthusiasm skyrocketed when discussing the potential of his business. I asked him point-blank: "Do you really want to sell this?" He realized that he was excited about the journey he was on, and his business was already providing him with more than enough income.
When asked what he would do after selling, his answer was revealing. He'd probably start another business. But the business he'd want to start had the same exciting prospects as the one he was already running. The excitement wasn't about the end goal; it was about the work he was doing now.
A Different Perspective
A second founder I spoke with, who buys and relaunches struggling businesses, shared his perspective. With enough wealth to not have to work, he found that there were only so many 11:00 AM yoga classes he could take. What gave him fulfillment was the act of building businesses. Money simply gave him the choice to do that or not.
The Decision
Returning to the first CEO, he made a choice that might seem crazy to many: he turned down the $50 million offer. But he's happy. He's doing what he loves without regrets. As a coach, my goal is to help leaders make decisions based on what motivates them as individuals, not on what I or anyone else would do in their situation.
Remember, it's not always about the end goal or the money, but about the journey and the fulfillment you find in your work. That's the real wealth. Until next time, keep building what excites you!
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