From: "Business Course I" by Gary North
Of course everyone wants to be independently wealthy, right? Of course everyone wants to sell a profitable business ... right?
Well, yes most people would want a profitable business. But
This is why one should care. One should clearly identify the ends towards which they labor. And one should know when to declare "done"; goal achieved. That is, one must have an exit plan.
My End Game is to be independently wealthy.
Independently Wealthy: "My actions are not driven by the need to pay bills."
I do not expect to ever stop working completely. But when I am independently wealthy I will be free to turn down any work for an indefinite period of time.
I will be free to spend time with loved ones. I will be free to hang out. I will be free to travel.
I will be free to implement my Life's Calling.
The sales price of a business depends on many factors. But my target is for the price to equal 5x annual earnings. Specifically, I will take a sales price allows me to bank five years of living expenses.
This amount in the bank means that I could completely stop all work and gigs for a solid five years, yet maintain my lifestyle.
That is, I will be Independently Wealthy.