The EntreLeadership Podcast Would Selling My $4.75 Million Business Be a Mistake?
Jun 30, 2025
A young man grapples with the idea of selling his family's restaurant cleaning business, torn between finances and family legacy. The discussion dives into the emotional weight of a $4.75 million sale and the long-term implications. Listeners also hear about the importance of delegation in business and the impact of hiring adaptable workers. A young entrepreneur shares struggles with debt in the remodeling industry, while another caller contemplates sharing business financials with her son, navigating familial trust and responsibility.
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Think Long-Term Before Selling
- When deciding whether to sell a business, consider how you'll feel about the decision decades later.
- Think through worst-case scenarios and long-term implications, not just immediate financial gain.
Use W-2 Leaders, Keep Subs
- Hire W-2 employees for leadership roles to free yourself from managing every detail.
- Keep subcontractors for specialized labor to control payroll and reduce overhead risk.
Prepare Child for Financial Reality
- Share business financials with your child only when emotionally and spiritually mature.
- Set clear expectations on confidentiality, responsibility, and work ethic before sharing sensitive information.