This is a page from my book, “How I Sold My Business: A Personal Diary”
I met with all of our LLC business partners today to discuss what we learned from the potential new business broker (Steve). I shared all three of Steve's options, and explained to them why I didn't want to pursue the first two options, and after seeing the costs, they agreed.
As for the third option, everyone has grown a little weary of having the company on the market for so long, and there's no consensus that we should go forward with Steve on that option either. Several partners asked what was so bad about being the size we are. We're all making a very good living, we all like each other, and there's no dead weight at the company.
After a good discussion we decided not to decide anything today. Frankly, we're all tired, and need our own mental breaks, vacation or otherwise. We'll probably meet again in two weeks.
After the meeting I called Marty and told him we wouldn't be extending his contract, and thanked him for his hard work on his behalf. From our discussions over the last few years I learned that he likes a particular brand of scotch, and I'm going to the liquor store to pick one up for him. I started to leave a note for my assistant to do this, but that would open up a line of discussion with her I can't have, so I'll do this myself.
And yes, I'm getting one for myself as well.