I am terrified that once the transaction closes and I hand over the keys, I will lose my identity, fall into depression, or regret the sale. How do I build a personal plan for my life after the sale during this multi-year runway?

Question

Tyler Smith · Accepted Answer

The fear of a post-exit void is real and highly common among founders who have spent decades building a business. To combat this, you must treat your personal transition as a strategic initiative. Do not wait until the day after close to figure out who you are without your title. Begin defining your next chapter at least two years before your target transaction date. We recommend building a personal V/TO to clarify your post-sale vision. Start by identifying your core values, your personal passion, and a ten-year target for your life outside the business. Define what intellectual, physical, and philanthropic pursuits will replace the eighty hours a week you currently spend at the office. If your entire social circle is tied to your industry, start building relationships outside of it now. You also need to test your capacity for stepping away. Use your EOS quarterly cycle to take longer vacations where you are completely unplugged. If the business can run for thirty days without you answering a single email, you have proved the business is transferrable and you have given yourself a preview of retirement. Transitioning well is about running toward a compelling future, not just running away from your daily operational headaches.