Category Archives for "Selling Your Business"

Leverage Graveyard

Three Ways to Avoid the Leverage Graveyard

Leverage Graveyard Epitaph:

Here lies one Joe Schmoe
Dollars dead for stretching “dough”
Could have cashed out once or twice
Found out debt had hidden price.

This poem describes one of my closest friends. Let me tell you about him.

Just ten short years ago, he had it all. A wife of 25 years who stuck by him through thick and thin, two happy children pursuing their dreams, a dream house, nice cars, private planes, boats, global travel, and a thriving business that forced him to live on $1 million per year.

Today, his most precious assets are still in tact.  He and his wife are still in love, his kids are happily married, and he enjoys regular quality time with his grandchildren. But monetarily, he's lost it all. And with it, much of his reputation and all of his momentum.

I recently interviewed him for this post. Here are three takeaways you can use to avoid a similar fate.

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