The Cost of Waiting to Sell
Everything has a cost. If I hit the snooze button on the alarm one time, my cost could be that I potentially get to work late. If I get up early and don’t hit the snooze button, the cost is not being able to sleep an additional 10 or 15 minutes. I’ve been around the block long enough to know timing is everything. If I would have bought $10,000 worth of Microsoft stock in 1985, I would have stock worth $3,000,000 today. On the flip side, how many near-death experiences can I account for where if I would have stepped off the curb a split second earlier, I would have ended up in the hospital?
So, just like choosing to hit your snooze button versus continuing to sleep in, there is a cost in holding onto your practice. The smart thing to do would be to sit down with your trusted advisor. Whether it be your accountant, financial planner, or your friendly neighborhood broker, someone can help you analyze how much it may cost you to hold onto your practice. We can always be reached, at no charge at firstname.lastname@example.org.