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Finding Your Purpose

What is entrepreneurship through acquisition?

Waking up every morning with a lack of passion or purpose is a very dangerous thing. Many people live a similar, repetitive, unfulfilling life because they have become too comfortable or feel as though they are at a standstill; either way, these feelings are nothing but illusions.

One of my favorite quotes is:

“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us.”

This couldn’t be more true…

Most people tend sabotage or make excuses for why they can’t start that business they’ve been talking about, travel to that certain place they’ve been dreaming of, lose the weight, find a new job, move to a new State or Province, ask that certain someone out on a date… and so on and so on.

When Mel Robbins, author of “The 5 Second Rule” was a guest on Impact Theory, hosted by Tom Bilyeu, she mentioned: “The way that our minds are wired and the fact about human beings is that we are not designed to do things that are uncomfortable or scary or difficult. Our brains are designed to protect us from those things, because our brains are trying to keep us alive. In order to change, in order to build a business, in order to be the best parent, the best spouse to do all those things that you know you want to do with your life, with your work, with your dreams you are going to have to do things that are; difficult, uncertain or scary. Which sets up this problem for all of us, you are never going to feel like it.”

“Small hesitation kills dreams.”

So what does this have to do with entrepreneurship? Simple. Many think that being being an “entrepreneur” is only about starting a business from scratch which can scare you, for obvious and valid reasons. Building a business from the bottom up requires tireless work and enormous risk. However, many seem to overlook the less risky route to being your own boss (and loving what you do) known as “entrepreneurship through acquisition” – coined by Harvard Business School Professors Royce G. Yudkoff and Richard S. Ruback. At BizON we’ve been spearheading this conversation in communities around the world. If you are unhappy with your 9-5, think about buying a business that suits your lifestyle and ignites you with a new found passion and purpose. Now, as Mel Robbins mentions, your natural defense mechanism may go off, so let’s try and fight this together. Think to yourself: Do I want to be happy? Do I want to be passionate? Do I want a purpose? Do I want to make an immediate impact? Do I want to break free from the 9-5? If the answer to all of these questions are yes…then you’re on your way. Nevertheless, let’s do some reinforcement. Remember this:

1) When buying an existing business or franchise, the return on investment is shorter since you are involved with a live, breathing, money making business.
2) Your impact is immediate since you are dealing with clients, employees and suppliers/partners out the gate.
3) There’s a proven market with existing clients and stable recurring revenue.
4) Financing an acquisition is very easy versus financing a startup, which is nearly impossible.
5) Most importantly, you have the ability to find a lifestyle business or franchise that puts food on the table, makes you happy and ignites you with passion and an exciting reason to get up in the morning!

People! Like Gary Vaynerchuk says: “You’re gonna die..”, so stop living an unhappy life that provides you with false illusions of safety. Beat your natural defense mechanism, take control, love what you do and wake up motivated with a purpose.

I know I do!

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