Why I am not selling my business
23 May 2025
For many, the American Dream means building a business and eventually selling it for a large sum of money. I’ve chosen a different path.
My business operates with a partially charitable mindset. We run a free, no registration website that provides vital information to pathologists, helping them perform their jobs better. While it’s open to anyone, our main audience is professionals in pathology. The site is entirely funded by advertising. Our team includes over 300 contributing authors and 80 editors who rigorously peer-review content. We've recently welcomed our 25th staff member, most of whom are part-time and work remotely.
So why not sell for a big payday?
First, I’m happy with my life. More money won’t solve the problems I face. A larger house, a fancier car or lavish vacations aren’t what I’m missing. I know people who chase those things, and I don't believe they’re any happier for it.
Second, our business offers a valuable global service to pathologists. I’m convinced that selling to a venture capital firm, or even to a pathology related institution, would diminish the quality of that service. The venture capital firms I spoke with cared only about monetization - they had no interest in what we did. The institutions seemed more interested in leveraging our platform to benefit themselves than in supporting pathologists.
Third, our success is built on the dedication of our employees, and we treat them exceptionally well. We offer flexibility and great benefits for part timers, including medical and holiday pay, generous PTO, and annual bonuses that rival those of the auto industry. I doubt a new owner would maintain these standards.
Fourth, we’re deeply committed to improvement, even when it’s difficult. Unlike many organizations, we’re accessible. We respond to nearly every message we receive, except for irrelevant cold pitches. We value open communication and responsiveness.
Fifth, charitable giving is central to our mission. We’ve supported initiatives like the Detroit College Promise scholarship, helped musicians during COVID and donated to various other causes. We’re now considering support for medical research, especially as federal funding declines. We’ve even formed a dedicated charity committee to guide these efforts. How many companies can say the same?
Ultimately, life isn’t just about accumulating wealth. It’s about how you treat your employees, your customers, your business vendors and the public. By choosing not to sell, we’ve preserved our ability to do that well. I suspect that this is not true for many other business sales, which just enrich the pockets of the owners.
The index to my prior essays (mostly post 5 November 2024) is here.
I have another blog on Cancer and Medicine.
You can also follow me at https://www.linkedin.com/in/nat-pernick-8967765/ (LinkedIn), npernickmich (Threads and Instagram) and natpernick.bsky.social (Bluesky).
Email me at Nat@PathologyOutlines.com.
I also publish Notes at https://substack.com/note. Subscribers will automatically see my notes.
Hello Nat: I worked for Robert Bosch Gmbh. Before Robert Bosch died he set up his company to support charities. He owned 100% of the stock. He left 9% to his family, 90% to Charity foundation and 1% to a management board. The Charity and Family receive 100% of the profits but have no voting rights. The management board receives no profits but has 100% of the voting rights. Thus the group making decisions doesn't profit from them so they only make decision to grow the company and employ more people. The Bosch family is provided for, but can't ruin the company's future. Plus they took very good care of me, a minor employee. Thanks.
Thank you for showing how businesses could and should be run. I totally agree that more money will not make me happier, and question whether folks running around with 10 cars, a yacht, a private jet, and three oversized houses understand the meaning of life. To me, life is about connection, personal growth, and contribution. For each of us, this will present differently. Unfortunately, the influencers who are paid on social media to promote consumerism have contributed to a society that chases status through material possessions. Sadly, large swaths of our population have been brainwashed into thinking they need oodles of money to amass more “stuff.” Sadly, they are most likely not cultivating their character in the process. (In my humble opinion.) I guess it all boils down to intention. Your intention seems to be making the world a better place through your contribution to medical research.