Tell me about your business success

[Darkest]

DH is involved in a start up. We are six years in and this is the first year that he has been paid a salary by the business having worked two jobs until then. The business is growing and the plan is to sell it in the next 2 to 5 years if all goes well.

It's been a hard slog so far and it could all still come to nothing. I feel like I'm waiting for something to happen but it obviously doesn't work like that.

If anyone has any success stories, please will you share them. I just want to feel like this is worth it and that we might just get there in the end.

I had never thought about selling my business, it is a lifestyle to provide money for me, not something to sell. This is where I have been going wrong I think tbh
Utterly brassic atm and very depressed about it

Not me but I read this piece recently about the success of a small independent bookshop in Dublin. Your post reminded me of it https://gutterbookshop.com/news/

One of my clients sold for £10m cash :)

I do think about selling my business at some point in the future, it's kept our heads above water for the last few years, and whether it's the business or stock I sell, it'll be a life changing amount. It's also enabled me to start up two smaller businesses which imo would never have been possible without my first business being a success. It's also an opportunity for my child to be part of 'if' life doesn't turn out for them how they hope. It's ALOT of work, effort & sleepless nights, but it's still like a drug to me to try & make each day/week better than the last

Thanks for the messages so far. They were offered 3.5 million for it in April (DH has a 20% share) but they aren't ready to sell. They are hoping for 10-12 million in 5 years. It would be life-changing. But we're not there yet and it's as likely that we'll never be as it is that we are.
I hate the uncertainty. None of the directors take much from the company - everything mostly goes back into it at the moment. We're financially fine right now but we can't afford a lot of extras.

2 million after 11 years of working for little to no salary, is a poor return imo.

Especially after he pays taxes, legal fees for the business sale, etc.

How many hours a week is he putting into this?

PennyForearm - he does get a decent salary (started this year) and now works full-time for the business. Prior to this he had a different job and would put in the time around this.

When I say no-one takes money from the business I mean they're not taking dividends. They are all salaried for the work they do.

Started ours 7 years ago - and surprisingly made money from the start but it's gruelling - so much involved, we don't get the time to spend the money we make - so little time off, feels like it never stops - but it's almost addictive, the highs, the lows...it consumes so much of our lives and walking away from something you created feels hard - it's our baby.

Someone I know invested £100 in a start up and is now worth £6m having given more than that away. Took salary along the way.

Another mortgaged their house to start a business and sold for $50m after 8 years.

Another invested £250,000 and had a seat on the board and exited for £7m just three years later.

All had four things in common.

1. Market awareness.
2. Team orientation.
3. Focus.
4. Good luck on timing.

Tesla was formed 20 years ago with an initial funding round of $7.5m. It is now worth $750 billion. All the above four things equally apply here.