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Oct 21, 2022Liked by Loren Feldman

I'm sure many of these entrepreneurs who don't pay themselves a salary think that they will recoup their blood, sweat and tears financially when the sell their business. But the best sources indicate that over 80% of businesses that are for sale NEVER SELL. The main reason? There's no salary for the owner and/or no profit (because it's all re-invested into the business.) In other words, there's no incentive for a buyer because nobody wants to buy a business that doesn't make any money for the buyer lol!

An excellent resource for business owners to avoid this no-salary trap is laid out in Mike Michalowicz's book "Profit First". In my opinion, it's a MUST READ for every business owner and entrepreneur.

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