Your local business is more than an income stream. After decades of being a public face in the local community, your business becomes part of your identity.
So when the time comes to exit, it can feel like a part of your identity dies when you leave the business. Even more so when your pride and joy shuts down after you sell.
Few know the feeling more than James Kinney, one of San Antonio’s most public faces. At 43 years old, he sold the iconic Splashtown water park and pivoted into temporary retirement.
In this episode, you’ll discover why Splashtown shut down (even though it was profitable). And through this story, you’ll gather valuable insights that will help you prepare for your own business exit.
Show Highlights Include:
- Why a sports card addiction teaches your children financial discipline (6:51)
- The “New Nintendo” principle that turns want-it-all kids into frugal adults (8:05)
- How to attract thousands of local eyeballs to your business without spending a dollar on ads (10:25)
- The “Grind” method that lets your well-deserving family members enter executive levels at your business (without accusals of “special treatment”) (11:15)
- How to sell your business for an above-market price (even if your EBITDA doesn’t justify it) (14:42)