Things Look Grim? Every Coin Has Two Sides

This may not be the time to make a lot of money, but it can be a time to make some money. What I mean is, this may not be a time when you will post record profits as a business owner, but it may be a time when you can make investments that could become highly profitable for you.

Buy low, sell high. Before the current recession, nothing was on sale. Everything cost more. Today, bargains abound. If you managed your money well while the times were good, then you might be in a position to pick up some assets at bargain prices.

Take the following case in point.

I've been representing the owner of a company in the sale of his company. Our first buyer fell through and we thought we'd close a deal with our "B" buyer by year-end 2008. Of course, financing became a problem. In the meantime, the company's largest competitor began to fail and, lo and behold, my client was able to pick up the assets of that business for pennies on the dollar. It could not have worked out any better. My client just yesterday closed on purchase of the company for maybe 15% of what he would have been willing to pay just a year ago.

True, my client wishes to sell and move on to a more relaxing retirement, and he will do so. The acquisition will help us get a deal done, probably with the seller at hand. If not, we have a rock-solid buyer (our "C" buyer) ready and willing to buy, but "C" has not offered the price offered by the two other less-proven buyers (i.e., "A" and "B"). My client and I together decided we'd take the chance working with the less-proven buyers, one and then the other, and if they fall through, go then to "C," Mr. Reliable. Either way, the price we get will be even higher due to the recent acquisition.

Winners find ways to win no matter which way the wind is blowing.

Not finding much to get excited about in the current economy? Try looking at the other side of the coin.