In today’s post we discuss the recent solar eclipse in some parts of Europe and explain why this rare event is similar to selling your business.
On Friday March 20, 2015 millions of people in Ireland, the UK and northern Europe were treated to a rare natural phenomenon when they witnessed the solar eclipse. The sky became dark early that morning as the moon passed between the earth and the sun. The moon’s shadow obscured the sun up to 95% in skies over Ireland and at least 83% in all parts of the UK. Unfortunately not everyone was lucky enough to catch a glimpse of it as the duration and degree of the eclipse varied with location. People referred to as eclipse chasers or umbraphiles travelled to remote locations to fully appreciate the special event. Torshavn in the Faroe Islands and the Norwegian island group of Svalbar were popular destinations. The eager spectators in the Faroe Islands got totality for a full two minutes, beginning just before 09:41 GMT. However, the longest period of darkness-nearly three minutes- occurred much further afield over a spot in the Norwegian Sea, at 09:46 GMT. I preferred the view from my lanai in Naples Florida. Although I didn’t see the eclipse, I enjoyed the 80 degree temperatures.
The solar eclipse was not the only exciting phenomenon last Friday as two other astronomical events also occurred, the spring (or vernal) equinox and the Supermoon. The former is when the sun shines directly on the equator marking the beginning of spring in the Northern Hemisphere while the latter is a full or new moon that occurs during the moon’s closest approach to Earth on its elliptical orbit. However, the solar eclipse received the most attention. Scientific agencies even had planes and satellites to capture the special moment on video and they shared it on the web and on television. Ireland and the UK will not experience a solar eclipse like this one until 2026. Luckily for us the next total solar eclipse in the US will be much sooner than that, in August 2017. In the meantime we have two lunar eclipses to look forward to this year, on April 4 and September 28.
I am not a keen astronomer but the event highlighted to me the importance of appreciating rare moments. Life moves at such a fast pace that it seems to pass us by in the blink of an eye. That is why special occasions with family and friends such as weddings or graduations should be cherished. Selling your business is also a rare event. You have spent your whole life building your insurance agency. Even the strongest advocates of the independent insurance agency model will eventually perpetuate their agency. We can’t recall the last agency that willingly closed its doors and ceased doing business.
You should never wait until the last possible moment and grab the best offer that comes your way. You should take the time to fully embrace this life-changing moment. Before putting your agency on the market consider how to increase its value so you get the maximum financial reward. There are many tools that we use to maximize the value of your agency. However, a perpetuation event isn’t purely about maximizing the value. This is something that you are going to do once. Nothing will be more important to you and your family. As a result, we are committed to doing it right. We want you to look back and have no regrets. We want you to view the sale as the beginning of a new chapter rather than the end of the road. We can help you in this process and make sure that you have no regrets. Life is short so make the most of it.
