Business Owner's Dilemma (eBook)

Take Control of the Mental Chatter, Clarify Your Ideal Future, and Enjoy th

Ali Nasser (Autor)

eBook Download: EPUB

2022 | 1. Auflage
192 Seiten
Bookbaby (Verlag)
978-1-5445-0147-5 (ISBN)

Infos

Too many business owners aren't enjoying the success they've earned. The pressure of continuing growth while also planning their existing success leaves most owners overwhelmed. After serving as a guide and partner to some of the world's most successful business owners for nearly twenty years, author Ali Nasser identified three critical dilemmas challenging their minds: 1.The Re-Investment Dilemma?: How do I re-invest my success? 2.The Legacy Dilemma?: What is it all for? 3.The Exit Dilemma?: What is my best exit strategy? Ali has successfully turned those challenges into opportunities via the Wealth Integration System for Entrepreneurs? (WISE?). This powerful and proprietary framework reveals how business owners can integrate business, wealth, and life decisions to create the outcomes they truly desire. The Business Owner's Dilemma will help you: · Gain clarity over your dilemmas. · Learn a simple and powerful design to approach all aspects of entrepreneurial wealth. · Take control and decide on a path to capture your life's work. Successful owners understand it is impossible to capture and monetize success without strategy and integration. WISE? creates the path to bring it all together and take your results to the next level.

Textauszug

Chapter 1

The Three Dilemmas™

Framing Your Challenge Creates
the Path to Opportunity

What would you tell someone who has a $50 million net worth, entirely invested in Apple stock?

You’d probably tell them to diversify. They’d be crazy not to, right?

I could introduce my friend Justin to you in a similar way. His $50 million net worth is also in one company—but it’s the company that he built. What would you tell Justin?

Would you congratulate him? Ask him if he planned to grow it to $100 million? Ask him what’s next?

Why is that? Why would we tell the first person to diversify while celebrating the second? Does Justin’s manufacturing company really carry less risk than Apple, one of the most successful companies of all time?

If you’re an entrepreneur, you may already know the answer, or feel it intuitively—Justin has control, and we love control. In fact, in situations where we have a sense of control, we visualize the opportunity far greater than we see the risk. And the more successful we become, the greater our comfort for concentrated risk. Control makes it feel entirely logical for Justin to keep $50 million in his manufacturing company but unrealistic to invest the same amount in one stock.

Entrepreneurs are all very different in terms of the businesses they run and the choices they make, but underlying those differences is a commonality in the way they make those choices.

Most of us started building at a young age, with our first hustle beginning in our adolescent years. We were presented with some sort of challenge that we saw as an opportunity. Perhaps we wanted to prove ourselves to someone, to accommodate for something we lacked, to change what we had into something we wanted, or to just create something new. And we never really stopped. We continued to pursue opportunities, climbing bigger mountains and overcoming greater risks.

Years later, when we have a business that has become highly successful, we begin to face some key dilemmas.

The first is the Re-investment Dilemma™.

What should I do with profits? Re-invest back in the company, buy real estate, invest in the market, start a new company, or just save money in cash? What’s the best strategy?

The second usually comes to mind a little later in life—the Legacy Dilemma™.

What is this all for? Family? Charity? Ego? Just for fun? How much is enough? What impact am I making? How do I ensure my children are empowered and not entitled?

The third is the Exit Dilemma™.

This could come at any point in time: What is my best exit strategy? Do I sell the company? When? For how much? What will I do next? Should I leave it to my children? Sell to my executive team? Will selling give me freedom of purpose or loss of purpose?

Every successful business owner will face one or all of these dilemmas over their lifetime, and, in many cases, all three at once.

The underlying question driving all of them is

“What is my best path forward?”

Plenty of authors, speakers, and mentors are available to help entrepreneurs grow their businesses. But once we have built the cash flow and equity that we dreamed of, what then?

How can Justin gain guidance on the best path for his $50 million net worth?

The reality is that traditional guidance was not created for the entrepreneur. They are a rare breed, especially at this level of success. Tax, legal, and financial solutions are usually built to address a specific need and often with a process to serve the masses as opposed to the exceptions.

The answers are rarely easy. Yours will depend on the stage you are in, the future you want, and the values you hold. Furthermore, within these dilemmas exists both a wealth decision and life decision that needs to be addressed. And having a system to gain clarity and perspective on all the different pieces will bring a much better outcome.

In other words, finding your best path forward is a journey, and you will benefit from a proven approach that helps guide you along the way.

In this book, you will learn about the Wealth Integration System for Entrepreneurs™ and how business owners that have experienced it have gained clarity on effective ways to address their dilemmas, bring all aspects of their entrepreneurial wealth together, and create the intention and integration they are seeking.

The Entrepreneur’s Journey

Growing up in a family of entrepreneurs, I saw the joys, struggles, and challenges of business ownership from the inside. At the age of twenty, I started my first business and experienced how many long years of perseverance and hard work it takes to make a vision a reality—not to mention the risks involved in starting and running a company.

I have tremendous affinity, love, and respect for entrepreneurs who put everything on the line to build their vision.

Most entrepreneurs built their businesses from the ground up. They created something out of nothing, usually by working seven days a week for years while making many life sacrifices along the way. They did all of this while carrying boulders of risk and obligation. And when they finally reach their big milestones, they are often faced with heavy tax burdens and complex life decisions to navigate.

The rewards of business success can be tremendous. However, the sad part is that a very small percentage of entrepreneurs reach a high level of success. Approximately 65 percent of businesses will fail in the first ten years, and 75 percent will fail within fifteen. Of all small businesses, less than 20 percent make over $100,000 per year.1 The majority of entrepreneurs who do accomplish success will not fully capture or monetize it. And many of those who do capture the monetary benefits of their business find it hard to enjoy the outcome of their work.

After so many years of intense work, it becomes difficult to slow down enough to enjoy what they have built, and many will spend years thinking and worrying about the next generation and whether they’ll be equipped to succeed.

Without question, being an entrepreneur is one of the toughest roles there is—not only to reach any level of success but also to sustain, grow, and ultimately pass on the legacy to their loved ones.

Yet we do it anyway.

We each have our unique reasons. Perhaps we want our independence and an opportunity to create our own outcome, or we just love to build and grow. Your reasons might not be the same as mine, yet here we are—on our journey, wondering what mountain we are going to climb next.

I have spent over 20,000 hours consulting some of the most successful business owners on capturing their life’s work and developing a strategy for their personal vision. I’ve seen and analyzed the patterns in mindsets, philosophies, and strategies across countless business owners, all while experiencing my own entrepreneurial journey.

The common denominator for us all, across every stage of the journey, is answering the question What is my best path forward? And depending on where you are in your business, your life cycle, and your financial position, this core question will surface differently.

I believe we are all looking for the same outcome: clarity of our purpose, alignment of our values, and peace of mind that there is an intentional plan in place.

To effectively reach this outcome requires many steps, including clarifying your desired life experience, truly understanding your wealth and what it can provide, and recognizing your new normal, or the opportunities that exist today that you may not have been aware of previously.

The Core Issue + the Proven System

Business owners don’t walk into a CPA or financial advisor’s office to ask them to solve a core dilemma. They want to know how to save money for April 15 or how to invest their excess capital. That’s all the traditional planning approach asks us to do—to work with several individual professionals, each in their own silo, and go with the best option they have to offer for their specific expertise.

You likely have a plan from several of these people already, each drafted in various stages of your entrepreneurial journey and based on your goals at the time you established them.

When I entered the wealth advisory industry, I was shocked to see just how little advising advisors actually did. More accurately, they were often brokers, portfolio managers, or insurance agents, each operating within a model that works for the bulk of their clients.

Over time, I fell in love with helping the business owner gain clarity and perspective. This was more important to me than offering an investment or financial product. As I listened to their underlying concerns and understood their challenges, I wanted to create something better—both for myself and for all entrepreneurs. We didn’t need better products. We needed a better perspective of our wealth in general. I knew that by creating better perspective, business owners could be empowered to make better decisions.

I noticed common paradigms that entrepreneurs had formed, some to their benefit and some to their detriment—and over the years, I’ve seen how realigning and reframing these paradigms creates a positive impact on their outcome and, in some cases, changes the outcome altogether.

The more specifically I was able to meet those needs, the...

Produkt-Details

• Erscheint lt. Verlag: 22.2.2022
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• ISBN-10: 1-5445-0147-1 / 1544501471
• ISBN-13: 978-1-5445-0147-5 / 9781544501475