Could YOU be the reason your business isn’t selling?

Cutting ties that bindIf you’re a business owner, you may find yourself fantasying from time to time about selling your business and walking away with all that lovely cash … but chances are you will have a hard time cutting the ties that bind you to a business you may have worked a lifetime building.

An article on Forbes.com tells the story of a business owner of 25 years who decided to sell his business after finally acknowledging that his sons had no interest in running it. He spent thousands of dollars and a year of his time prepping his business only to walked away from the sales table at the last minute. Forbes calls this “seller’s remorse,” and it’s a fairly common ailment of successful entrepreneurs.

According to Forbes, the problems most entrepreneurs suffer from when selling their businesses is a condition psychologists call “locus of control issues.” In essence, this is the consequence for those who  initiated all action throughout their career, find themselves in the uncomfortable position of being told what to do as they sell their business.

Authentic entrepreneurs are unique creatures. Typically, they are business geniuses that defy convention by thinking less about wealth and rewards than challenge, winning and making positive chances within their community. If you are a business owner considering selling your business, you may be well-advised to come to terms with the idea before you dive into the process. Just know that you will be ceding control of your business in exchange for cash. It would be best to wrap your mind around that issue sooner rather than later.

You can learn more about this topic as well as other strategies on our website under the tab entitled: business planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.

Reference: Forbes.com published June 1, 2011 “It's Your Baby– Now Say Goodbye”

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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
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Thank you, Walt and the Zaremba Team

Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.