Spiritual awakening: In many cultures, rainbows are a sign of a spiritual awakening. Seeing a rainbow at a funeral or shortly after one is a sign that your loved one’s spirit is in its next destination.
What does never stop chasing rainbows mean?
If you are chasing rainbows, you are trying to do or achieve something that is not really possible or realistic. Examples: I know you want to become an actor but I think you should stop chasing rainbows and get an office job.
What is the origin of chasing rainbows? Pursuing illusionary goals, trying to achieve impossible things. The term comes from the old tale about finding a crock of gold if one digs at the end of the rainbow, where it touches earth.
Likewise Is Chasing Rainbows a metaphor?
This idiom is used when someone tries to pursue unrealistic or fanciful goals, things that are impossible.
What are some sayings about rainbows? The Most Beautiful Rainbow Quotes
- “Dare to love yourself as if you were a rainbow with gold at both ends.” …
- “It takes sunshine and rain to make a rainbow. …
- “Life throws challenges and every challenge comes with rainbows and lights to conquer it.”
What does chasing butterflies mean?
1 to follow or run after (a person, animal, or goal) persistently or quickly.
What are examples of idioms? The most common English idioms
| Idiom | Meaning | Usage |
|---|---|---|
| Better late than never | Better to arrive late than not to come at all | by itself |
| Bite the bullet | To get something over with because it is inevitable | as part of a sentence |
| Break a leg | Good luck | by itself |
| Call it a day | Stop working on something | as part of a sentence |
What is the meaning of chasing the shadows?
to try to achieve or find something that is impossible or does not exist: Weary officials tell them there is no big hidden secret to discover and they are chasing shadows. Trying to get hold of everyone involved can feel like chasing shadows.
What does the rainbow symbolizes? Rainbows are a symbol of hope in many cultures. … Rainbows are frequently represented in Western art and culture, as a sign of hope and promise of better times to come.
What is the promise of a rainbow?
Whenever the rainbow appears in the clouds, I will see it and remember the everlasting covenant between God and all living creatures of every kind on the earth.” So God said to Noah, “This is the sign of the covenant I have established between me and all life on the earth.”
Why do rainbows make us happy? This is what I said: ‘The colours of a rainbow are light, fresh and happy and since they are so rare, they elicit a sense of awe and delight in addition to bringing the promise of sunshine with the blue sky usually on the horizon’. … It’s why decorating for kids rooms is so much fun because it’s all about happy colours!
What is the idiom bite the bullet?
to accept a difficult or unpleasant situation. The same stressful event might make one person utterly miserable, while another will bite the bullet and make the best of it. Easy Learning Idioms Dictionary.
What are color idioms? Colour Idioms
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| idiom | meaning |
|---|---|
| beet red | dark red (usually to describe face) |
| black and blue | bruised and beaten |
| black and white | straight forward, very clear |
| black out | faint |
Chasing the Pot of Gold at the End of the Rainbow
In Irish mythology, the pot of gold is hidden at the end of a rainbow by a small member of the fairy family called the leprechaun. Humans who are lucky enough to spot a leprechaun by following the rainbow may still have problems catching him because the fairies bestowed upon leprechauns the magical ability to disappear.
In Irish mythology, the leprechaun is considered a trickster who often appears at night and is the cause of small mishaps around the house.
As an entrepreneur, the chase to the pot of gold at the end of your rainbow may be just as elusive! The notion of realizing a return on your sweat equity when you sell your business may have been part of your original plan or it may have caught you by surprise during a meeting with a consultant when asked, “what’s your exit plan?”
Whether you plan to “leave it all to ________” in your will, plan to dial down by slowing or stalling business development activity, want to sell it to your employees, transition it to a family member, attract a strategic buyer or put it on the market, an exit plan provides clarity.
Just as the leprechauns play tricks along the way and make mischief, the same is true in business. It’s not unusual for the best-laid plans to go awry. We need to look no further than the recent COVID-19 pandemic to find ample examples of exit plans going up in smoke.
Ensuring an understanding of the tax on business transition is essential as decisions made on an after-tax basis are more impactful than pre-tax decisions. Suffice it to say that tax impact can significantly impact the net cash from a sale and the tax impact differs with the deal structure and the buyer.
The silver tsunami is upon us with approximately $1.5 trillion dollars in business assets about to transition in the next decade with the 2nd wave of baby boomers readying for retirement. A recent CFIB study ( 2018) shows that less than half (49%) of business owners have a succession plan and only about 1 in 10 has a formal, written plan.
Retirement is the main reason for exiting. Many Main Street or “Mom and Pop” types of businesses have the bulk of their estates tied up in the business and rely on the sale of their business to fund their retirement lifestyle. Many have re-invested earnings in growing the business, drawing compensation levels required to raise their family, keeping a roof over their heads and food on the table. The priority to invest funds outside of the business has been low. Thus, any obstacles in selling a business may be problematic to the business itself but also to the wellbeing of the business owner and their family (CFIB Survey: Retirement Savings. 2015).
Exit to community options such as Opportunity Development Co-operatives or other co-operative structures provide additional exit options to keep the business in the community, the jobs it offers and the economy it drives.
Reviewing the reasons why businesses don’t sell, one of the main reasons is unrealistic expectations from the seller.
Unrealistic expectations show up in many forms:
- Purchase Price – Many business owners lack knowledge concerning an appropriate valuation for the business and often overvalue the “living” they have earned from the business. Prospective buyers see the business very differently, often putting less value on the earnings stream because the risk that the income will continue under a new owner is extremely high. Lifestyle businesses or owner-operators are hard to sell to a buyer who isn’t interested in also being an owner-operator meaning the buyer very likely needs to have industry experience and often already live within commuting distance. In essence, the buyer is interested in buying themselves a job.
- Goodwill – Linked to the purchase price described above, the amount of goodwill in a business is very much in the eye of the beholder. The ability of a buyer to finance the purchase of goodwill is one of the reasons deals don’t close. Many lenders are not willing to loan funds on assets that they cannot touch and feel. Again, this is perfectly understandable from the lender’s perspective. They want security to back the loan so that they can recover their loan from selling the assets should the borrower default on the loan. Thus, for a seller to realize the goodwill they have generated in the business, they often need to be open to vendor financing or an earn-out as part of the deal structure.
- Financing Arrangements – many sellers want all the cash on closing and are unwilling to consider vendor financing, earnouts or other ways to structure the deal that make it easier for the buyer to finance the acquisition. Few buyers are sitting on wheel barrels full of cash that they can put into the deal. Coupled with the reluctance of banks to finance goodwill associated with the purchase (there are some exceptions), an employee with industry experience who wants to purchase the business to keep their job will often be hard-pressed to come up with the financing. The business also needs to have the earnings to service the debt in addition to compensation to the new owner.
- potential exit options and
- actions between now and exit.
The outcome of implementing a realistic exit plan is a successful exit, whether that be immediate or several years away. Your pot of gold at the end of the rainbow isn’t just waiting for you. You need to make an intentional plan with a clear map to the pot of gold.
Want to see how ready your business is for your exit? Get your sellability score!
