Tips To Prepare For Retirement from Industry Legend

October 2nd, 2019 by Emmariah Holcomb

Ed Golda, of EJG Enterprises, shed light on tips every business owner should know as they prepare for retirement, but in true Golda fashion he made a few jokes along the way.

“I’m going to try to give a presentation on how to set yourself up for retirement. For me, well, I was going along and having the time of my life and then I sold my business. Then it was like, well Ed what happens next,” said Golda.

He highlighted several “tough lessons” he learned throughout his career, which he claims stemmed from learning how to properly manage while being a boss his employees could feel comfortable going to if there were issues.

“It was important for me to be the person who could handle several things going on at one time,” recalled Golda.

During his presentation he also stressed the importance of hiring the right people and buying the building you operate out of in order to build equity.

“Yes there were times when we hired someone we thought would be a good fit, but then when they started working for us we found them to be a problem. My advice is to get rid of them and fast because the longer you wait and give them chances the longer the problem is still in your business. Another thing you should do is build your business’ equity, just put some of your profits aside each year so that you’ll be able to buy your location. Then you’ll be on your way,” mentioned Golda.

The final notable piece of advice he gave to his listeners: put enough time into growing your business.

“I always lived with the motto, what would you do if you lived like you couldn’t fail. Over time I had open-heart surgery, my father passed away, and half of my staff left me and went into business for themselves … the toughest thing I had to do was to create a positive culture,” recalled Golda.

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