I have spent thirty years building this business, and while I want the payout, I am terrified of the void that will open up the day after I hand over the keys. How do I operationally and mentally prepare for life after the sale during my exit runway?

Question

Tyler Smith · Accepted Answer

The psychological shock of selling a business is one of the most common reasons owners experience post transaction depression or even sabotage their own deals. To prevent this, you must build your personal exit runway alongside your business runway.

Begin by treating your personal future as a strategic project. Just as you use a V/TO® to plan the future of your company, you need to write a personal vision statement for your life after the sale. Define what your days will look like, where your intellectual stimulation will come from, and how you will replace the social connection your company provided.

Operationally, you must practice letting go of your daily duties well before the transaction. Use the Delegate and Elevate™ tool to systematically transition your responsibilities to the leadership team. If you are still the primary problem solver, you will struggle to detach.

Build a transition plan where you step out of the Visionary seat and allow your successor to run the business. This serves two purposes. It proves to the buyer that the business is not reliant on you, and it allows you to experience a trial run of retirement or your next venture. This active transition ensures that when the wire hits your bank account, you are running toward a new future rather than running away from your past.