So many of you with successful businesses
or practices dream of the day you can cash out. Wouldn’t it be great to sell
the enterprise you worked so hard to build for a ton of dough and then sit back
and travel, play golf, serve on a few boards and support a few of your favorite
charitable causes? Not so fast.If you haven’t taken the time to prepare properly for a liquidity event, you could find yourself financially and emotionally disrupted to the point that you aren’t enjoying life and you aren’t preserving your hard-earned wealth.
Before you move on to your next venture or
to a life away from the daily grind, here are five key principles that one of our
clients advises
his
clients to follow and they’re likely to work for you:
1. Ignore what made you successful.
2. Take a household view.
3. Understand different forms of risk.
4. Don’t gamble. Invest.
5. Control what you can control.
1. Ignore what made you successful.
2. Take a household view.
3. Understand different forms of risk.
4. Don’t gamble. Invest.
5. Control what you can control.
Read here
for more about these five principles. As we have discussed in recent posts, writing a
relevant eBook, blog or regular column can position you as a thought leader in
your niche and garner you national media attention. Last week, another of our clients Blake
Christian, CPA, a tax partner of Long Beach, CA-based HCVT was featured in
a US News & World Report story How
to Create a Foolproof Withdrawal Plan for Retirement Assets.
We typically our outreach efforts at least three months prior to release date and several of our clients have landed new business just by sending out pre-release chapters to their centers of influence for review.
Our blog
and website has more.We typically our outreach efforts at least three months prior to release date and several of our clients have landed new business just by sending out pre-release chapters to their centers of influence for review.
Conclusion
While it may not be in your DNA
to take your foot off the gas pedal, capital preservation, not growth is your
primary concern in the new chapter of your life. And the same
goes for your next book, presentation or article. Begin with the end in mind or
you may find yourself sharing all your accumulated smarts and expertise with
the world without being ready for Act 2, or getting anything of value in
return.
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VCRGD6XDXT3T
TAGS: Blake Christian, preparing for liquidity events, cashing out
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