Reassessment: What’s Next?”
This final chapter forces a confrontation I’ve been avoiding: the reality that success isn’t a destination but a continuous series of choices about what comes next. The author’s company-as-child analogy initially seemed cliché, but it actually captures something profound—unlike children, we can choose to keep our businesses exactly as they are, which might be the smartest move.
The Five Options Framework
What strikes me most about the five options presented is how they reflect different definitions of success and risk tolerance. The author’s insight that “keeping the company as is” isn’t stagnation but a legitimate strategic choice challenges the growth-at-all-costs mentality I see everywhere in startup culture.
The discussion of growth financing particularly resonated with me. The author’s personal anecdote about being “young and footloose” when taking on debt, then becoming more protective of assets as he aged, reflects a maturity often missing from entrepreneurial discourse. The question “Will taking on this debt make it harder for me to sleep at night?” is perhaps the most practical decision-making tool in the entire book.
Going Public: The Double-Edged Sword
The section on going public feels especially relevant given today’s IPO environment. The author’s warning about spending time “defending your stock price” rather than building your business seems prophetic. I appreciate his honesty about the personal costs—losing privacy, dealing with analysts, and having your every decision scrutinized by shareholders.
His point about having to “learn to treat your shareholders differently” highlights how going public fundamentally changes the nature of your business. You’re no longer just responsible to customers and employees, but to a faceless group of investors whose priorities may not align with your long-term vision.
The Reality of Selling
The selling discussion caught me off guard with its emotional honesty. The author’s admission that he sold companies twice and “wouldn’t have sold the first time” if he could do it over reveals the complexity of these decisions. His advice to talk with people who’ve been through sales—both successful and unsuccessful—is invaluable.
The practical warnings about non-cash components and tax implications show the author’s experience. Too many entrepreneurs focus solely on the headline number without understanding what they’ll actually receive or the psychological impact of no longer controlling their creation.
Closing the Company: An Overlooked Option
The chapter’s treatment of business closure as a legitimate option rather than failure is refreshing. The Jerry Shafir example—pouring himself into Kettle Cuisine for eight years before achieving success—raises uncomfortable questions about opportunity cost and personal sacrifice.
The author’s observation that “most important growth experiences” often come from failures resonates deeply. His advice to “see the glass as half full rather than half empty” when closing a business reframes failure as education—expensive education, but education nonetheless.
The Checklist: Back to Fundamentals
The decision-making framework at the end brings everything full circle. The Ben Franklin pros-and-cons approach feels almost simplistic until you realize how rarely we actually do this systematically. The emphasis on talking through options with people who’ve faced similar decisions acknowledges that these choices are too important and complex to make in isolation.
The financial assessment section particularly stood out. The author’s point that many entrepreneurs “fail to focus on” their personal wealth accumulation because they’re “not motivated solely by moneymaking” captures a fundamental tension in entrepreneurship—building something meaningful versus building personal wealth.
Final thoughts…
What I find most valuable about this chapter is its rejection of one-size-fits-all solutions. The author consistently emphasizes that the right choice depends on your personal goals, risk tolerance, life circumstances, and values. This feels mature and honest in a way that much business advice doesn’t.
The recurring theme of self-assessment—knowing what you want from life beyond just business success—challenges me to think more deeply about my own motivations and definitions of success. The author’s question about whether you’ve “achieved balance in your life” and his suggestion that entrepreneurship might be “very healthy, energizing” in midlife offers a different perspective on career progression.
The final insight that success is about finding “the best way to achieve the things that will make you successful—and happy” elegantly captures the chapter’s central message. Business decisions aren’t just business decisions; they’re life decisions that require understanding yourself as much as understanding markets, finances, and strategy.
This chapter succeeds because it acknowledges that having options—the luxury of asking “what’s next?”—is itself a form of success that shouldn’t be taken lightly.
Works Cited
Low Risk, High Reward: Starting and Growing Your Business with Minimal Risk. Chapter 10: “Reassessment: What’s Next?” [Business/Entrepreneurship text, specific publication details not provided in source material]