The Options
My prayer journal entry from February 9th, 2021
Not knowing what to do is one of the most uncomfortable places to be in. Maybe that’s why God allows us to be in that place... So we have no other choice but to rely on him. That’s what I believe.
My mind did not want to stop processing all of the possibilities. SOMETHING was going to happen. We’d either sell the business, sell the property, or stay in business…
[Added notes and elaboration are italicized…]
Tuesday, February 9th, 2021 8:29a NS4L office
Jesus,
Is everything a test? The more I think things through, the more I wonder. Shannon’s car isn’t working again after investing $1500 into it. [I’m] Being told it will be another $500 to fix the other AC hose. Granted, $1000 of the $1500 was for tires, oil change, and other general maintenance, but I would have waited to get the tires replaced if I knew there was a chance the other hose would go out (the repair facility did know that this was a chance but did not mention it). I became very frustrated (luckily just me in my office and not around anyone) and then thought… “I’m being tested in how I react and respond to this situation” and I immediately cooled. Please provide this money to fix this issue or solve it in another way.
[I don’t need to ‘preach’ to y’all anymore about the trials of life, “Murphy’s Law,” etc. because I know you know. I know these things are building my character. The Lord teaches me to appropriately respond to situations instead of reacting to them. Recently, one of our team members totaled our work truck. In the past, I wouldn’t have handled it well at all. This time, I was as cool as a cucumber. This is why trials happen. So we can learn to rely on and trust Jesus in ALL things.
Also… As a testimony to what is written above… God blessed us greatly. About a year after this was written, we were able to buy Shannon a slightly used 2022 Honda CR-V… and paid cash. Thank you, Jesus. If you’ve been reading this blog since the start, then I don’t have to explain how monumental this was. If you are newer to my blog, read this first post I wrote:]
The Weight of Debt
Debt is heavy. 77% of American households have some kind of debt and the average debt PER adult is $58,604. Add us all up, and the total personal debt in America is at its highest ever at $14.96 trillion. As I share prayers from my journal in the coming weeks and months, you’ll see how often finances are on my mind. My first prayer that I journaled?... Y…
[My prayer continued…]
Along these same lines, I made a realization while speaking to [a friend from church]. I know the thought has come to mind before, but I felt I clearly dictated it to him. I believe the [price] offered on the commercial property [in 2019 about 2 years after we purchased the property] with no broker’s fees and no closing costs was a test. Was I ready to steward that much money for you? Obviously not. Sure I thought I was doing what I was supposed to do by tithing 10%. I was setting that aside, but I was also dreaming about the pool in the backyard and my selfish desires. There was definitely some pride in me and I realize that too was a test. I’m sorry if I failed you. Talking things out with [my friend] really helped. Please bring more people like him into my life. I want to be coached and mentored so I can be the best steward for you.
Jesus, I continue to wait but also plan and process. Is that ok? These next couple of months will go by quickly and this is what I see presented as the options right now…
Definitely give [the business broker] the time agreed to find a buyer for NS4L. That agreement date is April 1 [2021]. At the same time, wait and see if Colliers [International] Gainesville gets the 607 unit leased.
Should I reach out to [owner’s name] at [competing business] and see if he wants to talk to [the business broker]? Out of all buyers (potential buyers), he seemed the most interested. It’s apparent from my early conversations that he would need to get a loan to purchase it outright.
Should I do a “call for offers” on the property if there hasn’t been any movement by the end of February? Maybe I’ll ask [the business broker] if she has any solid leads and if not, proceed with this. Many advisors agree that now is the time to sell. (Random thought, should I reach out to [a party I knew would be interested] and ask for a cash offer?) Doing a call for offers would set a due date mid-April and then I could make a decision. PPP would probably get my team members to May-June and give them time to find new positions. I could probably sell remaining assets of NS4L to other dealerships. I think many of my advisors would say to go this route and that now is the right time to sell.
The only other option is to stay in. Put my head down and get NS4L through COVID and even though I’m not passionate about it anymore [For clarity… I am passionate about it today, but at the time was very burnt out], focus on EBITDA [Earnings before interest, taxes, depreciation, and amortization], recruit help and restructure the business, and prepare for a sale in 2 - 3 years. Maybe let NS4L be the example for the new business idea [The Ripple Effect previously discussed in previous posts], see if [my friend and potential business partner for the new business idea] would come in, revamp sales, innovate, get to the other side of COVID in a few months, then sell and reinvest the profits into our new business. I do think that this would call for a major reset. Revamp in positions, changes in leadership (maybe let [my friend] step in), etc.
What do you think Jesus? What is your will?
I love you.
Collin
Today’s final thought…
WRITE. When I look back, praying (specifically, writing prayer) was one of the healthiest things I did (and have ever done). Just getting it out of my head and on paper and bringing it to the Lord was such a release. I challenge you as we prepare to head into a new year to start a prayer journal. If you dedicate yourself to doing it regularly, I believe you will be thanking me later.
Matthew 11:28-30 NIV 28 “Come to me, all you who are weary and burdened, and I will give you rest. 29 Take my yoke upon you and learn from me, for I am gentle and humble in heart, and you will find rest for your souls. 30 For my yoke is easy and my burden is light.”
Also, for my entrepreneurs out there who are “idea generators” like me, create an “Idea” list on your phone’s notebook. Mine’s called “Someday Maybe.” A place to write down those ideas that could come to fruition in the proper season or that I may just gift to someone else.
My friends, I wish you and yours a very Merry Christmas and a Happy New Year! May it be filled with family, food, fellowship, and the overwhelming presence of our Lord and Savior.
Isaiah 9:6 KJV 6 For unto us a child is born, unto us a son is given: and the government shall be upon his shoulder: and his name shall be called Wonderful, Counsellor, The mighty God, The everlasting Father, The Prince of Peace.
God bless you,
Collin
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