Life After Selling A Business

June 19, 2019
bouncing back after selling a business

How to Bounce Back After Selling a Business

Small business owners may sell their businesses for several reasons, such as retirement planning, estate planning or the desire to move on to new challenges. Owners also may sell because adverse economic conditions have reduced profitability. If you have sold your business recently and are not yet ready for retirement, you can bounce back and reignite that entrepreneurial spirit. However, there is no need to rush. Slow down and take the time to plan your next venture. 1.Work with the new owner to facilitate a smooth transition. The selling agreement may stipulate that the previous owner will stay on for a few months to help the new owner sort out operational details and customer relationships. Depending on the complexity of […]
September 12, 2017

Life After Selling A Business

As an entrepreneur, you start a business with the goal of some day selling it and getting a big payoff.  You devote your entire life to making it a success, working your guts out, putting in crazy hours and making many sacrifices to grow your company.  Then one day that payoff finally comes, and you suddenly realize that your goal had been to take your business to a successful exit and you have no idea what the heck is supposed to come next.   At least this was my experience. Going Through the Sale of My Company: The process of selling the company became all-consuming.  All of my time was spent in due diligence and negotiations, not to mention the endless […]