E172: Jerome Myers Discusses the Founder's Exit Paradox and Planning for Business Exits

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/cemb1gD2BVkAbout The Guest(s): Jerome Myers is an expert in helping business owners navigate the process of exiting their businesses. He has a background in real estate and has built a successful division of a Fortune 550 company. Jerome is passionate about helping business owners achieve their financial goals and create a meaningful impact in the world.Summary: Jerome Myers discusses the Founder's Exit Paradox, which refers to the mental and emotional challenges that business owners face when exiting their businesses. He shares his own experience of being laid off from a corporate job and then transitioning into real estate and business ownership. Jerome emphasizes the importance of planning for an exit and highlights the six centers of doubt that business owners often experience after selling their businesses. He also discusses the significance of finding purpose and making a positive impact in the world after an exit.Key Takeaways: Exiting a business can be a traumatic experience for business owners, and it is important to be aware of the emotional challenges that may arise.Planning for an exit and being exit-ready can lead to a smoother transition and a more valuable business.Business owners should consider their self-image, relationships, work, health, prosperity, and significance when preparing for an exit.Significance plays a crucial role in post-exit life, and business owners should focus on making a positive impact and leaving a legacy.Quotes:"Your wealth, so much of your wealth is tied up in that business. And if you don't harvest that wealth in some way, shape, or form, then it's just going to die in the business." - Jerome Myers"The more valuable you are to your business, the less valuable your business is." - Jerome Myers"The only thing that actually gives our life real meaning and allows us to create real happiness is service to others." - Jerome Myers--------------------------------------------------Contact Jerome onLinkedin: https://www.linkedin.com/in/jeromemyers/Website: http://www.jeromemyers.co/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton TheIT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: [email protected]'t Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :)▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.