Herman School of Business
Feeling the Rush
As you know I always ask for feedback and hearing from readers who ask questions means we all get to share in that information. Julie and Tim are readers who have scouted out a business to buy for almost two years. They have found a bar/restaurant combination in a part of their world they would like to try. It will be their first business venture. Tim is selling his house to make the purchase, and plans to keep his current job a few days a week to assure cash flow will cover the business mortgage, until they get the business in better shape.
Julie wrote to me with details and we went back and forth about different leasing, lease to buy, and outright buy options. Then I called Tim yesterday and I could “feel the rush” he was getting on the telephone. He knows this is what he wants to do…and I hope he does it. There is the risk of his down payment going up in smoke if the venture fails, but it won’t cost him his job skills should he need to return full time to his profession. That leads me to think about what the cost of a persons dreams are. Even though in this case it is all that Tim has at this moment, in the big picture of life it isn’t that much money. And there-in lies the lesson. Most people with little or no money will never have much more unless they take that risk. Tim can lose it all on this deal. He could also multiply that money he does risk into something worth three or four or ten times what he is putting up and achieve a much better financial position in life than he has now.
Julie and Tim have been cautious. They have done some homework and they do have a business plan. Quite frankly when I was finished talking to Tim even I was feeling his “rush.” It made me think about times I “went for it” and bought or started a new venture. You can’t describe it to others, but they know it when they take the leap.
I hope that Tim makes this buy. He is ready for it. And we expect to hear from Julie or Tim as they embark on this new venture. To all of you I say this…take the risk…make the move…make something happen….and you will Feel the Rush!
- Posted: 26 January 2008
- Comments: 1
- Category: Starting a business
My mom (Juile) and Tim are doing great with their buisness. I know my mom is very busy working Monday – Friday at her job, then driving 3 hours to the bar working the weekends with Tim. But she is so happy and she has to feel great about herself. Many people talk about starting a buisness and I’m just happy that my mom is now one of the few that has actually been able to go through with her dreams and experience a whole new chapter in her life. I hope the best for them till the end!
Written by Brittany on 22 October 2009