2 Thoughts - Emotion & Logic

#1: Emotion Vs Logic

One of my life adventures included flipping houses and I would go meet with owners of rundown - but livable - properties.  

When I walked in, I could immediately see the work to get this house to top condition and make it attractive to the most buyers... Move the kitchen, paint the walls, change the layout to focus on the best feature of the property, etc.

The owners though, they had an emotional tie to that house that kept them from seeing what I saw.  Their kids picked the paint color.  The kitchen had always been there.  The library was the original "gem" of the house, not the living room.

Last week I went to lunch to learn from someone that buys businesses and I asked him - just like I would evaluate my flip houses - what do you see when you come into a business?  

What challenges do the owners have to overcome to achieve a very successful exit for all of their hard work?

He gave me some AMAZING insight, but what struck me the most was how similar it was to my house buying experience.  

He has unemotional, logical clarity about how to get it where it needs to be, but the challenge is the current owner's emotional ties to their business.  

Just like with my sellers, the only way to succeed is to get them more excited about the future opportunity than they are about the present state.  Then they'll put in the work needed (or turn it over to someone else to put in the work.)

#2: One Question For You...

Are you prepared to learn how to maximize your business's valuation and secure its legacy?