Wednesday, April 18, 2018

Blowing Your Life Savings on a Stupid Business Idea

I know many of you are interested in entrepreneurship as a means of not only employment and freedom, but retirement as well.  However, working in banking for the 15 years I did I can assure you that the VAST MAJORITY (i.e.-98%) of the small businesses I dealt with were nothing more than money-wasting hobbies that destroyed families, finances, and futures.  Many of these businesses were original ideas, started from the ground up, where a client's "passion" overrode logic, common sense, and math.  But more commonly was where some dreamer thought they were going to buy an already-existing business and "make it rich" running a bar, a trinket shop, a restaurant or some other such money-losing concern, only to be blinded into bankruptcy as their "dream" drained their 401k's and IRA's dry


Consider contacting my friend David Barnett at Business Buyer Advantage

The short version is Dave has been working as a business broker for the past 20 years and knows the ins and outs of buying businesses, franchises and other concerns.  He's seen everything and has classes, books, and a YouTube channel.  PLEASE consider contacting him BEFORE you buy a business and put your IRA, 401k, or RRSP at risk.

1 comment:

Doug Cranmer said...

Thank you.