What are the things in life that give you a warm feeling inside?
Whether it’s a hobby you’ve loved since you were a kid, cheering on your local team at a big game or spending quality time with family and friends, we all have those things in our lives that give us joy.
For Bill Bush, former President of American Track Generations and now CEO of American Track Services, one of these joys is fishing: “I love to get out on the boat, I love to be on the water.”
However, one day Bill realized that he hadn’t been fishing in almost 15 years. Think about that for a second: when was the last time you did something you loved? In our experience of meeting business owners throughout North America and Canada, this is a common theme: the demands of building a thriving company eat away at the time to enjoy their favorite pastimes.
Of course, building a business from the ground up comes with its own thrills and successes. At the moment, you may not be worried about the amount of time you’re devoting to your company – it might be giving you the fulfillment you are after. But, have you ever taken a moment to reflect on what you loved to do before you became a business owner? Bill did, and decided to take steps to act on it by contacting our team at Generational Equity.
“This whole journey began with me via email.” Bill stated. “A few years ago I started getting emails wanting to know if I was interested in selling my business. This got me thinking about it and I talked to my son who was part-owner of the business and said ‘You know we’re getting all these inquiries. If we’re really serious about selling the business, maybe we should go to one of these [conferences] and find out what they’re all about.’”
Bill began the journey of selling his company by attending one of our executive conferences. Motivated by the thought of freeing up time to get back to fishing or spending time with his three grandkids, Bill was pleased with this introduction to our process. The conference gave him the opportunity to meet our experienced M&A professionals, learn the makings of an effective exit strategy, and instilled him with the confidence to achieve his goals.
From that moment, our team at Generational Equity guided Bill on this new path – one that we have traveled with many other owners that felt as he did. Within a week of meeting Bill one-on-one, a schedule of work was put in place, with the first steps taken to ensure his company was buyer ready.
Our professionals looked through the company’s financials, provided an estimate of the business value and soon lined up potential buyers that would be interested in his business, working with Bill to whittle down the list to find the perfect choice for his needs.
As we explained to Bill and all the business owners we help, business buyers don’t necessarily need to be in the same field as you to see the potential in your company. Especially with the middle market being the most active it has been in a decade, opportunities for business owners to exit for the optimal value are very high right now.
Once the right buyer was found, two of our key M&A professionals, Brenen Hofstadter and Julio Dominguez, utilized their experience and understanding of the process to push negotiations forward and create the perfect deal structure. The efficiency of this process and reaching the end of the journey gave Bill a real feeling of comfort, knowing that he now had the time and resources to get back on the water with his grandkids.
Watch our video interview with Bill Bush to hear his experience in his own words.
Growing your business can be one of the most fulfilling experiences imaginable, but it is important to remember there is so much outside of this to enjoy. For Bill, his company meant he couldn’t regularly pursue his love of fishing and spending time with his grandkids; for you, it might be wanting to travel the globe, restore old cars or learning a new language. Maybe you are even interested in starting another company from the ground up.
Whatever your circumstances, if you find yourself thinking of life after your business, then we encourage you to follow Bill’s footsteps and attend an executive conference. These offer valuable insights into the M&A process and are completely complimentary – the only cost is a few hours of your time. In return, you’ll receive information and guidance needed to make an informed decision about where to take your business.
Start your path to the future for you and your business today. Visit our website to find your nearest complimentary executive conference. Alternatively, you can contact our team at Generational Equity for more information.
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