In the last article, we touched on prospective buyers. This last part of the series touches on a very important part of the selling process — the part AFTER it all goes down. You sold your business and you got your cash. Now what? This may seem like a very shallow thing to cover at first but, truth be told, many entrepreneurs actually find themselves is a “lost” state once the sale is done. Consider that for a significant amount of time, they were dedicating themselves to the growth of this business. For some, they may have even been doing it long enough that they may feel that the business was all they know how to do. To avoid all this, there are a few things to keep in mind.
You need to learn to let go. Yes, it was your baby and you may not agree or feel secure with regard to how and with whom you left the business to but you need to just think that you have left a mark on that company. If it is something positive and inspiring, it will stick. Keep that in mind as you look away and let go. Secondly, you need to refocus. Don’t dwell on the fact that you were President and CEO of Company X. Instead, look at your strengths once again and be reminded of what were your qualities that made you who you are today. Look into that and, from there, assess your options on where you may want to go and what you may want to do to leverage on those strengths once more.
If you’re reading this before the sale of your company has been made, you most likely aren’t feeling the sense of loss yet. It will come, however, and you best be prepared so you can spring back into the next stage of your entrepreneurial career. Just remember, there is life after the sell and proper preparing for what’s to come after you sell your business is the best thing that can springboard you to your next great achievement. If you want to speed things up, keep in mind that you can always hire a business broker to help you out.
About Brightblue Transition Solutions
Located on Vancouver’s North Shore we are the premier business broker in the lower mainland, contact us if you need any help buying or selling a business in the greater Vancouver or lower mainland areas.