# American Business Brokers & Advisors - July 2024

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American Business Brokers & Advisors Founder & President MERGERS & ACQUISITIONS BUSINESS VALUATIONS

JULY 2024

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The Rule of Thumb Life Expectancy & Getting the Best of Life

Everyone knows there are “rules of thumb” in every industry. For example, when determining the value of a business, there are rules of thumb about what different businesses are worth. But did you know there is also a rule of thumb for your foreseeable life expectancy? Yes, as wild as it may sound, there is a rule of thumb to predict how long you will live. Remember, this is just a rule of thumb, but it’s very interesting. The rule of thumb for life expectancy is as follows: Subtract your present age from 100, then multiply that number by 2/3, and then add that amount back to your present age to get your life expectancy. For example, if you are 55 years old today, then

Since I just gave you the formula for figuring out how much longer you may live, you can put two and two together and see how serious the situation can be. Most people, and men in particular, fail to realize as they age how much knowledge and wisdom they have accumulated and have to offer to others. This was presented to me last month when I visited with a gentleman for whom I had sold all his convenience stores nine years ago. He is presently 82 years old. I was amazed to see how fit he was and how mentally sharp he was. We talked for several hours, and he shared with me that since selling his stores, he was active every day. When he wasn’t meeting with his coffee shop friends, he was talking business with his son or traveling with his wife in their Corvette going places. The most interesting thing about this man was that he was aware that his business performance had peaked, as had his physical situation because we talked about

100 – 55 = 45 x 2/3 = 30 + 55 = 85

So, if you are 55 years old today, then there is a good chance you could live to be 85.

I know I don’t have any scientific data to confirm this formula but remember, it is a rule of thumb. But what if it is pretty close to being right? Our bodies don’t continue at the same rate and

it. He wasn’t looking for another hot deal or investment. He was aware of the number of Thanksgivings he had ahead of him, but he was enjoying the journey of being himself. In other words, he had his act together. It isn’t very often that I recommend books, but “Strength to Strength” is one I recommend to anyone who wants to see the future of life as a wonderful journey using our God-given talents and how we can share this vision with everyone around us. Even if I am wrong about the life expectancy formula, you will enjoy the book and be enlightened in your vision of the future. –Terry Monroe

energy level we are at today and then suddenly quit working, like batteries in an electronic toy or flashlight. No, we gradually begin to slow down, and the light gets dimmer. To emphasize life expectancy, I recently read a book titled “From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life” by Arthur C. Brooks, a No. 1 New York Times bestseller. The book came referred to me as a must-read book for men who feel like they are not as useful or as sharp as they used to be in their earlier lives. The book does not sugarcoat the situation but instead addresses the issue of life expectancy head-on, asking where you are in your life today, what age you are, and how many Thanksgivings you think you may have left.

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What Do My Clients Secretly and Privately Desire Most?

had to dig deeper into my clients’ minds and find the real reason for what they secretly and privately desire the most in their lives regarding the sale of their business. What I discovered is that business owners are really searching for peace of mind. They want the peace of mind that they are doing the right thing for themselves and their families. They want to be happy, and they want their families to be happy. They have lived their lives working on and in the business for many years to support themselves and their families, and they are concerned about whether they are doing the right thing. Sometimes, it is easy because they know they don’t have any family members who want to continue in the business because their children told them they didn’t want to be involved going forward. But most of the time, it isn’t that easy. Some of the kids don’t want anything to do with the business, and some of the kids are somewhat involved with the business, but they don’t have the ability to run the business going forward. These are tough decisions that keep them up at night trying to decide what to do.

Joe and Lucy had purchased the fuel wholesale business and a couple of

–Terry Monroe

But this kind of answer to my question isn’t always the real answer. Therefore, I have

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SUDOKU (SOLUTION ON PG. 4) Take a Break!

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Whether you are just beginning your venture or are a seasoned entrepreneur, “The Ultimate Business Owner’s Manual” has the tools you need to succeed in business. GET YOUR FREE COPY TODAY! Email Terry@TerryMonroe.com. Put FREE COPY in the subject line for your free copy of “The Ultimate Business Owner’s Manual: 50 Tips to Become a Successful Entrepreneur.”

TERRY’S QUOTES OF THE DAY “In America, we have the greatest chance for opportunity than anyone else in the past six and a half thousand years. Never in recorded history have so many gifts been brought from all over the world and deposited in one country.” –Jim Rohn “Freedom is never more than one generation away from extinction. We didn’t pass it on to our children in the bloodstream. The only way they can inherit the freedom we have known is if we fight for it, protect it, defend it, and then hand it to them with the well-fought lessons of how they, in their lifetime, must do the same. And if you and I don’t do this, then you and I may well spend our sunset years telling our children and our children’s children what it once was like in America when men were free.” –Ronald Reagan

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Sudoku Solution

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What Do My Clients Secretly Desire Most?

Terry’s New Book is Here!

Successful Businesses Tune in to Social Media Trends

Social Listening Supercharges Marketing Success TAKING THE PULSE

Monitoring what people say about your products and services on social media, known as “social listening,” can be a powerful tool in your marketing arsenal. Deciding how to use it, however, is a high-risk, high- reward proposition. According to the Digital Marketing Institute, a training and certification company, social listening has huge potential rewards if done well. These include burnishing your brand’s reputation, understanding your customers more deeply, and gathering valuable intelligence on your competitors. However, if you decide not to bother with social listening or do it poorly, you miss out on the world’s largest source of customer insights at your peril. For example, if a new marketing campaign touches on negative commentary on social media, a tuned-in business can quickly retool the campaign. A company that doesn’t use social listening is likely to be blindsided. Companies can also analyze conversations to determine what customers like and don’t like about, for example, a new hamburger menu item or a meal-delivery service, and understand the underlying emotions.