Life After the Sale

In a recent conversation with one of my private clients, we dove into the brutal reality that follows the sale of a business.

(Okay… so brutal may be a bit much but I digress)

YES- It's an occasion that should be celebrated, a fresh chapter in life, you might say.

And believe me, there's no denying the sheer joy that washes over you when you walk away with a staggering profit of close to 200 million. That's enough to put the biggest of smiles on anyone's face.

But let's not overlook the other side of this transformative experience that often remains not spoken about and untold.

Drawing from my work with numerous UHNW clients, I feel compelled to shed light on this matter, to share a few unspoken truths.

A lot of business men/women are on the precipice of a liquidity event and my hopes is to prepare you for the aftermath.

Selling your business is a monumental change—a test that will challenge the very fabric of your existence.

Not only does it have an immediate financial impact, but it also permeates deeper into your identity, relationships, family, community, future plans, wealth preservation, and overall well-being.

Here are three things no one ever tells you about selling your business:

1. Embracing an Identity Shift

Imagine, if you will, the intricate intertwining of your identity with your business.

It has been your main focus, surpassing even the attention you've devoted to your family at times. Your entire platform, the bedrock of your success, no longer belongs to you.

And suddenly, you find yourself face-to-face with a stranger—the person you've become outside the realm of your business.

This internal struggle often plagues business sellers, as they find it challenging to disentangle themselves from their business's identity.

Now is your chance to reinvent yourself and rediscover the true essence of who you are.

2. From Wealth Creator to Wealth Preserver

When you are unexpectedly catapulted into a realm of unprecedented liquidity, the pressure can be overwhelming.

It's not that you're unfamiliar with wealth, but the sale of your business propels you to an entirely different financial stratosphere.

It's a weighty responsibility, as you transition from being a creator of wealth to becoming its steward.

Remember, being a successful entrepreneur doesn't automatically grant you mastery over growing and preserving your newfound riches.

Your ability to generate wealth doesn't inherently translate into the skill of wise investment.

Moreover, prepare yourself for the stark realization that the passive income derived from the sale's proceeds will pale in comparison to the active earnings of your business.

3. Charting a New Course... What Now?

Once the dust settles and you bask in the triumph of selling your business, you'll discover that starting over is the order of the day—rebuilding your life across all fronts.

It can be an exhilarating experience, brimming with newfound freedom.

However, it can also catch you off guard, leading to feelings of overwhelm.

Brace yourself for profound changes in your personal relationships.

The dynamics with your colleagues, family, and longtime friends will be tested as your financial status undergoes a considerable transformation.

Post-sale, you may find it challenging to relate to your peers and colleagues, even the most accomplished among them.

Reciprocally, they might struggle to comprehend the complex amalgamation of emotions you're grappling with.

Selling your business can leave you feeling unheard, as if the listening ears of your colleagues and friends have vanished, or as if expressing your true sentiments is met with unease.

Naturally, my insights here are not exhaustive, but they capture some of the most common and unexpected challenges my clients have encountered on their post-sale journeys.

Take these revelations to heart and consider them as you navigate the possibility of selling your business in the future.

It's always wise to be prepared for the road ahead, especially when it leads to new horizons of success and prosperity.

As always if you desire support, feel free to reach out to me.