(3 of 3) How to Prepare for Your Life After The Sell Of Your Business

The Business Behind Small Business

#54. We’re here to talk about what happens after you ride off into the sunset-the after sale of your business. How to prepare for it before you sell and ensure your life after the sale of the business is the one you wanted! #smallbusiness #exitstrategy #entrepreneurship

Famous Examples:

Howard Schultz

Sharon Redstone: https://en.wikipedia.org/wiki/Shari_Redstonehttps://www.tharawat-magazine.com/facts/succession-goes-awry-four-famous-examples/

Sevana's Recommendations:

Forbes List of Recommended Books: https://fivebooks.com/reader-list/top-books-on-buying-and-selling-a-business-daisy_reynolds/Buying and Selling a

Business: How You Can Win in the Business Quadrant by Garrett Sutton: https://www.amazon.com/dp/193783204X/ref=as_at?tag=readerlists-20

Tiffany's Recommendations:

Questions to help you get thinking about the life you would like to have, after the sell, so your can prepare for it BEFORE the sell!

1. What are my personal goals and aspirations outside of the business world?
2. How do I envision my ideal lifestyle after exiting the business?
3. What do I want my day-to-day life to look like after the exit?
4. What are my interests, passions, and hobbies that I would like to pursue after the exit?
5. Do I want to remain active in the industry or explore new industries and opportunities?
6. How can I prepare for the emotional and psychological adjustments that come with transitioning from a business owner to a new phase of life?
7. What support networks or resources can I tap into during the post-exit period?
8. How will I maintain a sense of purpose and fulfillment after exiting the business?
9. What legacy do I want to leave behind and how can I continue to make a positive impact?

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About BBSB -

We are two business owners with two very different perspectives on building business, and the business behind that in order to achieve your goals. One of us built to sell, and will continue on the serial entrepreneur path, which means your focus and drive should include very particular tools and tips in order to achieve your goal. The other, is building a generational business, one that can go on long after she’s let go of the wheel. This type of business also requires very specific tools and platforms to achieve this goal. Both women have been successful in their own right, but in honesty - haven’t scratched the surface!

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Disclaimer -

We are NOT licensed financial experts, nor do we give financial advice. Anything we share with you here on our podcast, whether it be a personal experience or submission, or advice/tips that have worked for us, or that we believe would work for you should not be viewed as either financial, business, or tax advice. We ask for you to do your research, have open and honest conversations with your company’s own support providers and make decisions based upon that. Throughout this broadcast we will share our knowledge and give suggestions and hope you will receive them as part of your overall research to better your own company.