sansthelight

Sold!

In business, money, ramblings on January 6, 2014 at 1:25 am

I sold my business today. At the end of the month I walk out the door and the new guys take over. I get $25k. $8-9k of that goes to pay of the company credit card. $3k goes to pay off a loan i took out when I bought out my original trouble-making partner. I will have spent somewhere in the neighborhood of $45k of my money and I’ll be leaving with $12k-ish. Sometimes you have to cut your losses. As a very great man once said: “you got to know when to hold them, know when to fold them, know when to walk away, know when to run.”

I will get some of that money back. My soon to be ex-partners have some personal debt on the company card and that money will be paid back. I have the guarantee of their new partner that a portion of their share of the profits will go to me until that debt is settled. In the mean time though, I have to eat that cost. My ex-partners will get the exact same dollar amount (actually a touch more) of shares in the new business as they had in the old business. They should be in a stronger place now then they were this morning. I don’t think they really understand that. I believe that their expectations were still too high. Mine were when we started but reality has a way of beating down expectations. While reality has been working on me the last 7 or 8 months it just showed up at their house today. As things stand though the only one losing money on this deal is me. My conscious can except that. I would hate to bring everyone down with me just because I failed at something. Having said that, I did fail at this. The business made money the entire two years but it was never quite enough for us to get ahead. It was just enough to keep stringing us along as the company slowly did worse. I was at a point where I knew what we had done wrong and I knew what needed to be done to fix it. Unfortunately I didn’t have the money to fix it. It was quickly becoming one of those “it takes money to make money” situations. Anyway, that chapter of my life will soon be over. There is no point in beating myself up over it anymore. Easier said than done. 😦 My friend Chad says that I always do things the hard way. He’ll be happy to know I haven’t changed much in the 25 years I’ve known him.

I have no plan for the future right now. I have a couple of ideas but nothing is fully researched and I have no idea how realistic those plans are. One is go back to school and get a degree in programing. One is to take some tech training and become a DBA. Both of these will build on my previous experience as a sys admin and government contractor. The third option is get a welding certification and do that. This is the one that appeals to me the most, but it is also the biggest unknown of the bunch. I’ll try and keep you up to date as I explore these three options. For now though… I’m scared.

-h

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  1. That time table got moved up on you. Sorry to hear things got randomly complicated. It’s the stuff you don’t see coming that is the most maddening. You’ve already done and experienced more than most people so I’m sure you’ll figure out the direction of your next adventure soon enough.

  2. Thanks man. I’m working on it.

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