Retirement Entrepreneurs Blog

Comments, rants and tips on baby boomer small business ideas
and working after retirement.

Author: Ingvar - Retiree In Training  

Working after retirement

Most entrepreneurs build businesses with the thought of selling the business at some point in the future. Which is of course the perfect exit strategy. IF the business is easy to sell. One of the roadblocks in selling a business is if the owner is the business brand. If you own Joe's Investment Advisors, YOU (Joe) are the individual people seek out for advice. Often from referrals from friends and clients. A business like that is difficult to sell to say - Brian.

I know this, because I am in that situation. I have, over the past 12 years established a bit of reputation in a fairly narrow niche. I get clients from referrals, I'm "the guy". A while ago I started to un-brand myself by hiring contractors to actually do the work. It didn't work out. Clients could spot right away that I wasn't the one creating the product. I guess I have a "touch".

This is important to think about since I will have great difficulty in selling this niche personal service business to anyone without the proven credibility. So when I retire from it - it dies. Most likely. Unless I bring someone aboard and slowly teach the tricks and over time the clients will accept his or hers work.

The only way around that is to set up more of a company with people and branding experts. That's not why I am in business. So in my tiny world of business, I have accepted the fact that the niche business will have to go and I concentrate on the non-client internet marketing business. Where there is no clients, no people to deal with, no complaints, hands-off income. So I can go an play.

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