Quote:
Originally Posted by GordonJ
Relating to an owner or ownership.
Is what Dictionary says about the word.
One of our favorite examples here at SOW is Harvey Brody's ZOOM SPOUT OILER, now with over 55 years of continuous sales, over an estimated 100 MILLION units sold.
WOWZA.
OWNERS rule. They rock n roll...all the way to the bank.
Many moons ago, I wrote about TINY the tow truck driver, the Vietnam vet who started with one truck working for someone else, took over a business, and became the OWNER by simply signing an agreement, no money out of his pocket,
He paid for his ownership via the profits of his business, and it is NOT an unusual arrangement.
Today, right now, the world over, more and more of the Baby Boomers and older are retiring, selling their PROPRIETARY positions on a wide variety of products and services.
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Hi Gordon,
Great topic!
I recently heard (from another entrepreneur) about a business, which owns patents, etc., where the founder and owner recently passed away...
He basically ran it himself (outsourcing much of the work). His wife doesn't know how to run the business, but now she has the responsibility of the business...
As well as the shocking tragedy, it's now also a huge burden on her shoulders...
Now, if you knew what you were doing, you could possibly do a deal... Where you help the wife, save the business, and everyone benefits...
These opportunities come up on a regular basis. But, it doesn't mean they're easy to work with...
If you can do it, though, it's a great opportunity!
However, you have to know how to spot the opportunity, and once you spot it, you have to know what to do...
Many useful lessons here!
Best wishes,
Dien