Life after sale – what happens next?

Your business has been your life. You’ve been consumed by its needs and now the pressure’s off.  Here you are in the calm after the storm.

People find it very difficult to imagine what their life will be like after any significant change. Ask any financial planner and they will tell you their clients really struggle to picture how they will live and how their finances will change after any major event.

If you’re in the process of selling your business, or that’s something you are working toward, its vital to consider life after sale.

If you decide to stay with the business, under its new ownership, you will have to learn to work for someone else. This can be very challenging and you should consider the possibility that you will not wish to stay for the long term.     

If you leave the business, unless you plan carefully in advance, you may find your life suddenly lacks purpose and structure.

So, what’s next? Do you want to continue working? If so, do you want to build a new business or advise others? Have you had your next business idea?

If you don’t want to continue working, what will you do instead? How will it change your relationships and affect the choices of those around you?

Part of your preparation for sale needs to include a managed transition for you. Appoint your successor early and use this period to coach them to step up while you step back.

Spend the time you free up on developing the proposition for your next business or your new life. Then, when it comes, you will be ready to enjoy it.

To find out more about how to prepare your business for sale call us on 0118 959 8224 or register for a free Masterclass.

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