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❓ASK Would you sell your high costing business or keep using it as a high income source ?

Reznov

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Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
 
If the business has higher future potential I will rather keep it and grow it than selling off , it is very good to face challaneges while doing business because it prepared you for bigger task ahead. If the business is not that viable I will sell it off.
 
i personally would keep it but hire a manager on the top of it, a trustworthy manager that can manage it like it's his, he also must be smart and responsable to take your opinions and think about the well being of the company/business, selling it would basically stop your income, because the money will end someday
 
If your business makes and brings you money, why would you want to sell it? And if it does not, maybe you are doing some things wrong. Why don't you make it better? Good luck.
well, even if it generates a decent income, selling it would bring you a lot and a lot of money, the issue here is that you are always on the top of it, i mean when you get older, you are supposed to take a rest, travel around the world and live your life ;)
 
well, once again, the issue here is not that the business was a failure, it's about working for the rest of your life, you need a rest at a period of time, maybe putting a manager on the top of it would be a fine solution than selling it
No doubt the body system need rest at a point in time but selling an existing successful business when there people to employ and manage it is not the best . You can resting and moving round the globe while business will keep running.

Most successful business men flock around the world comfortably yet they don't joke with the growth or prosperity of their businesses.

Having a place to visit or check on is beneficial to the health status , most successful business men still goes to office once in a while just to get busy and exercise the brain, if the business has been sold no where to gom
 
Depends on a lot of factors, mainly can you still adequately manage your business? If you're able to delegate your business to a reliable business partner then why not?
 
Depends on a lot of factors, mainly can you still adequately manage your business? If you're able to delegate your business to a reliable business partner then why not?
Yeah there instances where there might not be very reliable persons to handover busineses but partnership with some existing businesses could be an alternative just to keep it growing instead of full sale
 
Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
I do prefer to keep it and use the income to build a more comfortable business , then to reduce the stress , I will keep someone in charge of it while I manage the less stressful business. This way I have two business .
 
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
 
I recommend anyone thinking of investing in rental properties give that thread a read as well. Important to note for anyone reading this is that you or any other new investor should look at when deciding whether or not they want to take the plunge into rental properties is the true expenses associated with owning a rental property.
 
Kinda wondering what the OP here means by "high costing" business lol. Is it a business with high revenue or failing business with high operational cost? If it's the later then sell it, but if it's the former then keep it.
 
Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
I do prefer to keep it and use the income to build a more comfortable business , then to reduce the stress , I will keep someone in charge of it while I manage the less stressful business. This way I have two business .
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
Very true . I get the point but then most people are usually a victim of such circumstance because they trust people. You don't trust peopywhrn it comes to money . so , even if you allow him to manage the business for you, you should also monitor him well. But then , just as you said , it is not safe to do so.
 
I think it is best to keep it as a high income source. the selling mindset would just come if you think you would not be able to run the business anymore in the next months
 
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
It is a risk worth taken in my opinion you just need to put in place a lot of security measures such that the manager will not run down your business,you can also recruit based on merit
 
you can also recruit based on merit

The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
 
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
Yeah, I have seen and heard of scenarios like that also there people who had been hired to manage busineses and they have done that successfully too. It all depends on individual and business risk
 
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
Of course people do change and that is why you have put security measures just as he said . making sure that he kr she has limited access, carrys out a detailed daily financial report and other things . You don't just leave your business for anyone , less he may ruin the company .
 
It is on rare occasions that the financial controller and the manager could conive to run down a business, most of them value their integrity. You can monitor all financial transactions in your company by ensure full compliance with cashless transaction.
 
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
if that's thats the case. proper security measure should be put in place. and that person must have only limited access. though it's still hard to trust on any person even if you have been together for several years. you can only trust yourself. it's not that bad to have doubts on your employees or partners in order to protect your business
 

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