Latest / Best of Business / Kerre Woodham: Is it feasible to leave your job and buy a business?

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Kerre Woodham: Is it feasible to leave your job and buy a business? · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from news Talks at b
• 0:12
  Speaker 1: Follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Have you turned up to work yesterday, first day of
• 0:20
  Speaker 2: a new week, with a bad case of Monday artists,
• 0:27
  Speaker 2: feeling like you're getting nowhere working for the man? Thinking
• 0:32
  Speaker 2: now is the time in your life when you should
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  Speaker 2: be the master of your own destiny, making your own decisions,
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  Speaker 2: You getting the true reward for your labors, not the company.
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  Speaker 2: Well join the queue by demand for New Zealand businesses
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  Speaker 2: as on the up, with large business brokerage firm Link
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  Speaker 2: reporting a record nineteen percent year on year increase and
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  Speaker 2: would be buyers signing confidentiality agreements, which are apparently the
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  Speaker 2: last step before you take over the business. Even though
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  Speaker 2: times are tough, you would think and a relatively depressed
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  Speaker 2: economy that people would stay put, that going out on
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  Speaker 2: your own would be the last thing you'd want to do.
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  Speaker 2: But no, it's not. Just Link. ABC business sales CEO
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  Speaker 2: Chris Small also reported a record number of sales. He
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  Speaker 2: said business sales were countercyclical to unemployment, with people looking
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  Speaker 2: to buy themselves into a job when employment opportunities dry
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  Speaker 2: up or they're made redundant. But he says right now
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  Speaker 2: there's a lack of stock listings were down ten percent,
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  Speaker 2: while the number of buyers looking to buy a business
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  Speaker 2: was up thirty percent. You can put that down to immigration,
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  Speaker 2: a significant number of would be buyers or immigrants, But
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  Speaker 2: Chris Small says a growing number of those who are
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  Speaker 2: just sick of working for other people.
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  Speaker 3: A real thing that with people are coming to us
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  Speaker 3: and going you know, I'm sick of working for a
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  Speaker 3: big corporate. It's too woke or it's too annoying, i
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  Speaker 3: don't like my boss, and I want that financial freedom
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  Speaker 3: with Actually, if they work really hard, you get rewarded.
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  Speaker 3: If you don't work hard, you're obviously going to be
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  Speaker 3: a bit of trouble. Versus in corporate New Zealand, you
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  Speaker 3: can probably work pretty hard and not necessarily get rewarded
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  Speaker 3: for the hours you put in.
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  Speaker 2: That was ABC Business sal CEO Chris Small talking to
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  Speaker 2: Mike Hosking on the Mike Cosking Breakfast this morning. Now,
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  Speaker 2: when I've talked to people who own their own businesses
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  Speaker 2: who are one of the myriad small to medium businesses
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  Speaker 2: that are the backbone of the business economy, a lot
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  Speaker 2: of them grew up with parents who had their own business.
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  Speaker 2: That's the way they saw the world. That you had
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  Speaker 2: your own business, that you worked as a team husband
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  Speaker 2: and wife within the business. The kids quite often helped out,
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  Speaker 2: and so it was the culture of your family was
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  Speaker 2: to own your own business. And our family that was
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  Speaker 2: a bit different. My dad was adamant that my brother
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  Speaker 2: and I should get good jobs. When I signed up
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  Speaker 2: to the Broadcasting Corporation of New Zealand and my brother
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  Speaker 2: was an officer in the New Zealand Army, that was
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  Speaker 2: it for him. It was job done. We both had good, safe,
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  Speaker 2: secure jobs. I wonder how he'd look at the media
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  Speaker 2: landscape right now, but for him, it was getting a
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  Speaker 2: good secure job. That was the dream. And I'm really
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  Speaker 2: interested in those people who are leaving paid employment, leaving
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  Speaker 2: a corporate role or middle management role and deciding to
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  Speaker 2: go out and buy a business. Can you actually make
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  Speaker 2: a go of it if it's not in your bones,
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  Speaker 2: if it's not in your in your blood, Because running
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  Speaker 2: your own business is all them and hard work. And
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  Speaker 2: I wonder if people underestimate that when they think, you
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  Speaker 2: know what, I'm going to buy myself a little business
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  Speaker 2: and everything will be tickety boo. I won't have to
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  Speaker 2: answer to anybody. If I work hard, I'll get the
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  Speaker 2: return on it. It won't be going to anybody else.
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  Speaker 2: If I want to take Saturday off, then I can.
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  Speaker 2: Well can you. I mean, most of the business owners
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  Speaker 2: I know, especially in the early days of the business,
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  Speaker 2: we're working seven days a week to make a go
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  Speaker 2: of it. Can you actually become a business owner later
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  Speaker 2: in life without any kind of experience of the people
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  Speaker 2: around you running your own business. It is not for
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  Speaker 2: the fainthearted. I totally understand that for people who don't
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  Speaker 2: enjoy their jobs, turning up, sitting down at the hot
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  Speaker 2: desk and finding filth as the first thing you do
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  Speaker 2: to start your day, having some overpaid telling you what
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  Speaker 2: to do and when to do it would be really grinding, endless,
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  Speaker 2: pointless meetings would sap your soul. And I totally understand
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  Speaker 2: the desire to pick up your jacket, walk out and
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  Speaker 2: start doing it for yourself. And I'd be really interested
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  Speaker 2: to hear from people's experiences and those of you who
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  Speaker 2: are business owners, who have been business owners since you
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  Speaker 2: left school, and what your words to these would be
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  Speaker 2: business people, What your words of wisdom might be to them.
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  Speaker 2: What would you tell those who are looking to leave
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  Speaker 2: the corporate world where they've been a paid employee for
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  Speaker 2: the most of their working life. They're now in their
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  Speaker 2: thirties or forties, and they've had a guts full and
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  Speaker 2: they want to buy a business and get out there
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  Speaker 2: and make something of themselves. What would you tell them?
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