Jay Myers - Rounding Third and Heading for Home: The Emotional Journey of Selling My Business and the Lessons Learned Along the Way

ROUNDING THIRD and HEADING for HOME

Praise for

Of course, youve heard the expression that hindsight is 20/20. Sometimes it is in looking back that we get our clearest insights about whats important in life and in business. In Rounding Third and Heading for Home, Jay Myers uses the clarity of experience to guide us through his insights into the things that matter the most. An insightful and enjoyable look at growing a business, running a successful business, and then, ultimately, letting it go.

Robert B. (Rob) Carter

Executive Vice President and CIO, FedEx Corporation

From selling sodas at Tiger games as a freshman in high school in Liberty Bowl Memorial Stadium to starting his own company, Interactive Solutions, and then selling it more than twenty years later, University of Memphis alum Jay Myers has been through it all. His book helps educate other small business owners and entrepreneurs about the merger and acquisitions process, whether they choose to sell their business or not.

As the executive in residence at the University of Memphis Fogelman College of Business & Economics, Jay has been a mentor for many U of M student entrepreneurs, including those who have started an artisan coffee shop and a logistics company. Jay offers insightful lessons, including the importance of mentors and reinventing your business before its too late. Its great to see Jay share his hard-earned and impactful wisdom with a broader audience.

Dr. M. David Rudd

President, University of Memphis

Rounding Third and Heading for Home is a smooth at-bat for Jay. Dig into the batters box of life and dont let the curve ball fool you. Instead, wait on it and be ready. Smack it out of the park and enjoy that trip around the business base paths. Its another Jay Myers winner!

Roy Berger

Author, TheMost Wonderful Week of the Year and Big League Dream

I am elated that Jay Myers wrote this book. Numbers do not drive successful entrepreneurs, emotions do. This honest account of one such entrepreneurs emotional journey from seed to harvest should be required reading for anyone thinking about starting a business, running a business, or transitioning one. Prepare to be comforted and inspired. Game well played, Mr. Myers!

David S. Waddell

President, CEO Waddell & Associates, LLC

There are the mechanics of selling a business, which should easily be handled if you surround yourself with the right advisory team. What Jay has done in this book, however, is to eloquently expose the Achilles heel in most M&A transactions: the emotional readiness of an owner to walk away from your baby. Selling a business takes time and preparation around the fundamentals, but it also requires that you have honest, soul-searching conversations with yourself about walking away, handing over the reins, and what life after your business really looks like.

Jay has done business owners a tremendous service by uncovering the emotional considerations of selling a business.

Domenic Rinaldi

CBI Managing Partner, Sun Acquisitions

Drawing upon firsthand experiences, Jay takes us along on a compelling journey of building and selling a very successful business. This is a handbook for entrepreneurs at all stages of business development.

Madan Birla

Author, FedEx Delivers and Unleashing Creativity and Innovation

ROUNDING THIRD and HEADING for HOME

The Emotional Journey of Selling My Business and the Lessons Learned Along the Way

JAY MYERS

NEW YORK

LONDONNASHVILLEMELBOURNEVANCOUVER

ROUNDING THIRD and HEADING for HOME

The Emotional Journey of Selling My Business and the Lessons Learned Along the Way

2021 JAY MYERS

All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any meanselectronic, mechanical, photocopy, recording, scanning, or otherexcept for brief quotations in critical reviews or articles, without the prior written permission of the publisher.

Published in New York, New York, by Morgan James Publishing. Morgan James is a trademark of Morgan James, LLC. www.MorganJamesPublishing.com

ISBN 978-1-63195-278-4 paperback

ISBN 978-1-63195-279-1 eBook

Library of Congress Control Number: 2020916359

Cover Design by:

Rachel Lopez

www.r2cdesign.com

Interior Design by:

Bonnie Bushman

The Whole Caboodle Graphic Design

Morgan James is a proud partner of Habitat for Humanity Peninsula and Greater Williamsburg. Partners in building since 2006.

Get involved today! Visit
www.MorganJamesBuilds.com

To my late sister Dolores, who was a constant source of support and encouragement on my entrepreneurial journey

October 27, 2018

Savannah, Georgia

It was the perfect day for a weddingclear skies with a slight hint of fall in the air. A years worth of planning had led up to this day, and we were all nervous with anticipation, especially me. It was the day I had been looking forward to and dreading at the same time. It was the day I was giving away my one and only daughter, my baby girl. My heart was filled with so much emotion. My little girl was all grown up now. Where had the years gone? Even now, why did I still see her as this adorable two-year-old?

The more I thought about it, the more I realized that my daughter had always been my pride and joy. She was special for a lot of reasons. For one thing, she was the first girl born into the Myers family in forty years. Talk about big news! I can still hear my two sisters cheering enthusiastically when the big announcement was made, proclaiming that the streak had finally been broken!

Now it was her big day. I was praying I wouldnt fall apart and make a fool out of myself. But at this point there were no guarantees.

Are you ready for the first look? my wife asked me. Its going to be the first time youll see your baby in her wedding dress. I started to get a lump in my throat and headed toward the front of the hotel. When I got there, I was told to turn around. When my daughter arrived, I turned to face her, and I gasped. How did my wife and I produce such a beautiful young lady? She was strikingly pretty and appeared so happy. It warmed my heart. I have to admit I also fought back a few tears.

Are you ready for all this, Dad? she asked.

I smiled. As ready as Ill ever be, honey.

At that point we proceeded to have dozens of pictures taken of the two of us and then made our way to the church. But not just any church. The wedding was going to be at St. John the Baptist Cathedral in downtown Savannah, the most beautiful church I have ever been in (which includes the Vatican). For many years, St. John the Baptist has been a very popular wedding site, booked by couples from around the world. The French Gothic cathedral is also rich in history, having been a fixture in the local area for over one hundred years. On this wonderful October day, the cathedral never looked better.

A few minutes after arriving at St. John the Baptist, it was time for the family members to process and be seated. I was getting increasingly nervous and pretty emotional. But I promised myself and my daughter that I would not fall apart. Easier said than done.

Then it was time.

As we proceeded down the aisle, I kept thinking about how happy she was and how pleased I was with my daughters choice in a husband. My new son-in-law was an impressive young man who really loved my daughter. That was good enough for me. Still, it was hard. I kept thinking about how grown up my little girl was now. I also thought about the tie she gave me to wear in the wedding. It was so beautiful, and the inscription on the back said, I loved you first. It was getting more difficult to keep it together.