Why a Blog so Creatively Named?
It really started out as an end run around all the folks out there who have squatters’ rights on domains that start with “AustinBusiness”, “AustinBusinesses”, etc. While working on this cagey plot, it occurred to me that I might just have some thoughts to share with buyers and sellers of small businesses which they might find interesting and perhaps even helpful. I also must confess to having two ulterior motives:
- I happen to own a business brokerage – SBX, Inc. (SmallBusinessExchange.net) AND
- I’m a little frustrated with all the advice out there – usually in the form of a book on Amazon.com – that hardly anyone ever reads completely; few have the time to follow; and absolutely no one has the inclination to apply. For example, all the experts advise that you prepare to spend two years looking for or selling a business. I don’t doubt that very large companies do exactly that but it’s been my experience that buyers and sellers in the small business market simply do not have the time or resources to plan 2 years in advance. I’ve purchased several of these books myself and slowly plowed through them – they are now resting comfortably on a shelf.
SO – if you’re looking for carefully edited advice with oodles of footnotes and statistics from the U.S. Commerce Department, you won’t find it on this blog. On the other hand, if you don’t mind a casual approach and conversational tones, I hope this blog proves valuable to you once in a while.
One last really important point: PLEASE feel free to critique, register dismay, correct, and especially – to ask questions - if I don’t have the answer, we’ll research it together. I hope this experiment will be enlightening for all of us – thanks!
Why a Business in Austin?
For the vast majority of Austinites, the question of why to live in Austin just proves you’ve never lived here. It’s not for everyone – if you crave a constant stream of adrenalin – better to live on the East Coast. Conversely, if you consider being laid back a serious endeavor – the West Coast beckons.
Austin is a community of individualists – if that makes much sense. About the only common traits that I can discern is that they’re generally friendly, non-judgemental, straightforward and independent. With all due respect to Frank, it’s my kind of town.
It’s also a fertile environment for entrepreneurs – drop in on any business networking event (heaven knows, there are plenty of them in Austin) and you’ll find yourself rubbing shoulders with fascinating folks ranging from high tech millionaire executives to sous chefs touting the secret sauce for success in a restaurant. As a business owner of such unlikely pursuits as horse transportation, software development, and magazine publishing (some of which actually succeeded), the variety of ways to make money as an entrepreneur never fails to amaze me.
While the most exciting business concepts may never see the breakeven point, absolutely pedestrian ideas might make an owner wealthy. An enterprise that defeated a founder might make the next owner a bundle. Even the success of a franchise – with the least flexible policies and procedures – can depend upon the owner. Long hours and hard work can make the difference – or a moment of inspiration – I’ve seen both.
So – you might ask – how can you become the owner of a successful business in Austin? The answer(s), as you can imagine, is elusive – otherwise, there would be no more employees in the city. However, if you seriously want to become your own boss, I hope this blog helps you to make more informed decisions. One caveat: I am speaking from my experiences and I don’t pretend that I know everything so remember to use only what makes sense to you. I also urge you to ask questions so that we can all learn from your experiences.