In this month’s Business Banter with Tom and Kerry, we dig into Tom’s early years as a business owner, the surprising lessons he learned about value, and why every business owner should think beyond today’s paycheck.

You may be sitting on more than income, you may be sitting on your future nest egg!

Kerry: Tom, I hear this all the time from business owners: “My business is not worth much without me.” You have thought that too, right?

Tom: Oh, definitely. One of the first businesses I started was an accounting firm, or really a bookkeeping business to be precise. Like a lot of people, I was tired of working for someone else and making them the money. I figured I would try my hand at building something of my own, so I started with four clients. A few hours a week at each small business, the rest of the time in the basement of my house.

It was, hands down, one of the best decisions I ever made. I nearly doubled my old $40k salary almost instantly while working fewer hours. My clients loved it, and I loved it. Honestly, it was not even about growth at that point. I saw it as a job I owned, not a business I was building. If you had asked me what it was worth, I would have said exactly what most people say: “It is not worth much without me.”

Kerry: But you being you, I am guessing that little “job” did not stay so little.

Tom: Not for long. Four clients became eight. Eight turned into sixteen. Sixteen became thirty-two. And before I knew it, the whole thing snowballed. Within five years, I had four offices, three acquisitions under my belt, and over 30 employees, accountants, bookkeepers, CPAs, the works. It was nothing like what I had envisioned when I was tinkering away in my basement.

And yet, if you had asked me even then what the business was worth, I still would have said, “Not much without me running it.” And I could not have been more wrong.

Kerry: That is such a common trap. What finally snapped you out of that mindset?

Tom: Two lessons. First, you are not as vital to your business as you think you are. There is a saying: everyone is replaceable. It stings, but it is true. Even in businesses that start with one person’s vision, restaurants, boutiques, service firms, if they are set up right, those visions can outlive the founder. Rarely does a business only exist because of the owner.

Kerry: Ouch, that is a tough pill for owners to swallow, but true. And the second lesson?

Tom: Oh, this one hits close to home. For the entire eight years I ran that firm, I never made more than a five-figure salary.

And here is the kicker: most of my staff made more than I did. I cannot tell you how many nights I sat there thinking, “How is it that I am working the longest hours, carrying the biggest load, and somehow taking home the smallest paycheck?”

The payoff finally revealed itself when I was ready for my next adventure and started looking at selling. And that is when the lightbulb went on. The business itself was worth far more than the salary I had been paying myself. By the time I sold, I realized I had actually more than doubled my income all along. I just had not seen it because the value was sitting in the business.

Kerry: That is a huge realization. It is like the hidden equity nobody tells you you are building.

Tom: Exactly. And I see this mistake all the time. Owners just shut down instead of selling, walking away from something that actually has real, tangible value. That is money left on the table, whether they realize it or not.

Kerry: So what you are saying is, do not just think of your business as a paycheck, think of it as an investment.

Tom: Right. You do not need to dive straight into complicated succession planning, but you should always keep in mind that what you are building has value beyond today’s profit. Maybe it is not a jackpot, but do not be surprised if it is worth more than you expect. And at the very least, it might be the nest egg you did not even realize you were creating.

Kerry: That is the reminder every business owner needs. Do not sell yourself short. You might just be sitting on your future security without even knowing it.

Tom and Kerry: And that is why we are here, helping you see the bigger picture of your business, not just the day-to-day grind. Because when you build with intention, you are not only building income, you are building lasting value.