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Watch it on Youtube: https://youtu.be/cemb1gD2BVk

About 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

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Contact Jerome on
Linkedin: https://www.linkedin.com/in/jeromemyers/
Website: http://www.jeromemyers.co/
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E172: Jerome Myers Discusses the Founder's Exit Paradox and Planning for Business Exits

How2Exit: Buy, Don't Build - M&A of Small Businesses