Sub Headline: The Psychology of a Business Owner May Surprise You
Synopsis: Even successful business owners have self-doubt about maintaining an ongoing profitable enterprise. They lose sleep over their businesses just as a worried parent does over a child. The psychonomics of ownership is dealing with anxiety, most of which is unwarranted. Watch the video interview with nationally recognized author, speaker and retirement authority, Peter Hibbard.
Content: Over the years, forty-five-year financial veteran Peter Hibbard was quoted as saying, “I don’t think I’ve ever met a business owner who hasn’t had some sort of paranoia about continuing their success, and very few are really ready for retirement.” Peter has also observed that, even among successful business owners, many do not have an exit strategy or succession plan.
Many entrepreneurs are sweating bullets at night, as they lie awake worrying about their continued success, their business transition and their retirement lifestyle. And if that’s true for successful business owners, what of the marginally successful?
The real story here is the human factor. Business owners are nagged by insecurities and a sense of powerlessness regarding preparing their businesses for success into retirement. The psychonomics of business ownership is very fragile and that’s why it’s important to have a financial adviser on your team who also has a bit of pastoral sense to remind you that you’re not alone. Having a trusted adviser that has a handle on all the options and knows your personality, propensities and potential is critical in assuring the continued success of your company, increasing the value of your business for sale, and enabling you to enter retirement with the rewards of your hard earned labors secured.