People often point to the IT sector, which is largely funded by Venture Capital (VC). In the VC model, they will invest in something like 5 companies expecting 3 to not make it, one to break even and one to be the star that pays for the rest…not great odds if you are betting on your family's future! It is very difficult to start from scratch, figure out customer demand, build the systems and hire the right people…to get the formula just right so to speak. Once a business gets the formula right after 1000s of tweaks and the right team, it often takes off and is very scalable. So in buying a business, you are buying a proven formula…if the business has been around more the 5 years the chances it will survive another 5 are very high…and 10 years even better. 9. A Creative Outlet - Many people want a creative outlet for their efforts in life, sort of a life's work so to speak. The right kind of business can offer this while simultaneously being of great service to the community. Owning a business gives you the opportunity to try things and see what works. In fact, this process is essential for success. There are endless challenges to overcome that test creativity and ingenuity. The best business owners we encounter are very proud of their companies. From the service they deliver that has been perfect through many years of improvements, to their branding and websites, their culture, their investment strategies, etc. A successful business is often the result of a prolonged creative process by the owner and those close to him/her that has tangible results that can be very rewarding. 10. Having Fun! - When you add all of these up, for many people running a business is just fun. It can also be a lot of hard work, but often the activities that are the most fun in life are like that. But it should be fun and rewarding. Knowing this from the onset will cause a new buyer to veer towards businesses they will enjoy running. We
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