Michael Newman’s latest ‘e-Wealth Daily’ article is titled “How to Make Decisions That Will Change Your Life”. [Michael Newman’s Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

How to Make Decisions That Will Change Your Life

At some point in our careers, much like in our lives, we will come to a crossroads. Big decisions will have to be made that will determine the direction, size and success of our businesses. No matter what, these decisions will be quite difficult.

A few years ago, a friend of mine was forced to make a monumental business decision. Essentially, he had three options. The first was to sell his business. A part-owner (with
more money than him and his partner) made an offer to buy the company. They felt, however, that his offer was on the low end of the scale. When it was talked about at the negotiating table,
they also learned that they no longer particularly trusted this richer partner.

Another option was for my friend and his other partner to buy the business outright. The business, however, was at a point where it was doing quite well, but to continue growing to the
next level would take a large investment. This meant that they would have to go out and secure more capital, while at the same time reducing their salaries in order to pump as much
money into the business — and repay investors as quickly as possible.

Finally, they could keep the business at the same size it was currently. This was the worst option, they felt, because of the business’ potential. The fact was that they were receiving
orders they could no longer afford to keep up with. By investing and growing the business, they would be giving themselves some short-term pain for some long-term gain. In addition, it’s quite hard for an entrepreneur to walk away from an opportunity that still poses big-time moneymaking potential.

Coming up with the right decision took a lot of planning, talking, number crunching, and debating. My friend told me it was one of the most taxing, tiring and important decisions of
his life. At the end of the day, however, I think it’s safe to say that all his hard work and stress paid off.

They elected to buy the business outright, secure some capital and grow it. Not only did they believe in the company, but they also had hard evidence that it would grow as expected.

When you’re posed with one of these decisions that place you at a crossroads, it’s important to recognize and analyze all of your options. Carefully assess what you stand to lose and gain,
and make the best decision possible. It’s a difficult task, but by putting the required work in and trusting yourself, you’ll find the best way to come out on top. Don’t get discouraged!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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