28 Jan Every Coin Has Two Sides
This may not be the time to make a lot of money, but it can be a time to make some good money. What I mean is, this may not be a time for posting record profits, as a business owner, but it may be a time when you can make some investments that will become very profitable for you.
Buy low, sell high. Before the recession at hand, almost nothing was on sale. Everything cost a premium. Today, bargains abound. If you managed your money well while times were good, then you might be in a position to pick up some assets at bargain prices.
Take the following case in point.
I’m representing a seller client. Our first buyer fell through and we thought we’d close a deal with the second buyer (our “B” buyer) at year-end. Of course, financing has been the problem. In the meantime, the company’s largest competitor has begun to fail and, lo and behold, my client was able to pick it up for pennies on the dollar compared to the terms that were bantered around a few years ago between the two. It could not have worked out any better. My client just closed on the purchase of the company for maybe 15% of what he would have been willing to pay a year ago.
True, my client wishes to sell and move on to a more relaxing retirement. And he will do so. The acquisition will help us get a deal done, probably with the seller at hand. If not, we have a rock-solid buyer (our “C” buyer) ready and willing to buy, but “C” has not offered quite the price we have been offered by the two other less-proven buyers (i.e., the buyers we place in the A and B positions). My client and I together decided we’d take the chance working with less-proven buyers, one and then the other, and if they fall through, go then to Messrs. Reliable. Either way, the price we get will be even higher now due to the recent acquisition.
Winners find ways to win no matter which way the wind is blowing.
Not finding much to get excited about in the current economy? Try looking at it from another angle.