What are some strategies for managing the emotional impact of leaving your business?

Make a scrapbook filled with all the fond memories from everyone who worked there. Add pictures and quotes. It's way to say goodbye without really saying goodbye. ??????????

Barack Obama once said, "If you go out and make some good things happen, you will fill the world with hope, you will fill yourself with hope." 1. Acknowledge and embrace your emotions: It is crucial to acknowledge and accept the emotions you are experiencing after leaving your business. Allow yourself to feel without judgment or suppression. 2. Understand the stages of grief: Leaving your business can trigger a grieving process similar to other significant losses. Familiarize yourself with the stages of grief, including denial, anger, bargaining, depression, and acceptance. 3. Practice self-compassion and healthy expression: Find healthy outlets to express your emotions, such as writing in a journal or engaging in physical exercise.

Someone I know had built his company from the scratch. Though he was a doting father a loyal husband and a true good friend to the people he knew, his first and last love was his company. At one stage he wrote a will and elaborate suggestions for how the company will be run, in case he cannot function or is not associated with the company. By doing this simple exercise one can detach her/himself emotionally from the business. It may bring a shift in your emotional maturity and can be a matter of great satisfaction because we all know nothing can last for ever.

My experience was selling my architecture firm, so I admit it wasn't 'leaving it' in the sense of retiring. But I would offer that even being acquired has a full range of feelings...excitement, doubt, nervous, relief. Totally agree - don't bottle it in. Find a friend or family member to talk too.

In any case, the first step is to recognize your feelings and emotions. This is also the basis for taking action - of course, if it comes to negative emotions and feelings.

Leaving a business is a lot like retiring from a job in the sense that your business, or your job often consume a huge portion of the same precious resource: TIME. Since we all get the same 24 hours in a day whether we own a business or retire from a job, the issue of what happens after leaving, is directly tied to what we do BEFORE leaving, therefore: 1. Establish a network of friends or acquaintances, outside of your company/job. 2. Identify and commit to a specific role and time commitment in a new activity, company, or non-profit, that starts shortly after you're scheduled to exit. 3. Share the struggle with someone you trust, don't keep it inside. 4. Be Kind & patient with yourself, it's a journey, things will evolve!

When you started your business, you may have reached out to all your family and friends to perhaps onboard them as customers. So it's difficult for some to go to the same people for support when you're closing your business. It's a major blow to the ego in terms of accepting defeat. Often a mentor or a coach who you can confide in is a better option.

I have found it helpful to celebrate by reviewing my journey, annotating what I have learnt and enlisting skills I need to improve on. Expressing gratitude to all the implicit and explicit collaborators helps me process it better and build lasting relationships. Document and address open ends with employees, customers, partners, agencies, etc. Completing the circle brings closure and ensures a smoother transition. Overall, I engross myself in paving the next journey through ideation, skills enrichment and followed by networking.

During transitional phases, it's common to dwell on the challenges that prompted change, overshadowing the achievements gained throughout the journey. This journey, rich in positive experiences, deserves recognition and celebration. I've found that a thorough reflection, combined with updating your portfolio or CV, effectively captures these accomplishments. Moreover, documenting in diverse formats (i.e., audio, video, written) ensures your memories are preserved in a timeless manner.

Success and achievement is not about when we get through it but the person we become through it! It can sometimes feel like doom and gloom towards the end of our business. But it's important to reflect on the highlights and how the challenges of building a business has shaped us!

Leaving your business which you have built up should be a smooth linear process - handover reigns of your business gradually over a period of time to an immediate family member or friend / acquaintance who has equal passion or zeal for your business - it should be a feeling of leaving or handing over in safe hands….

In order to successfully, and peacefully leave your business, you need to first detach your personal identity from your business. When I closed my first business after the 2008 economic difficulties, I felt like a failure. I had tied my own personal success and failure to the success or failure of my business. Once I realized that I was not my business, and my personal worth & value were independent of it, I could move on with these lessons, and start my next business adventure a little wiser. I nurture the passion I feel for my business creation, and keep my personal identity separate.

This is the most important piece. The entrepreneurial spirit should be channeled to a new venture that is more aligned with the person's core values.

There is nothing wrong with seeking professional help when we are struggling to cope mentally. If famous athletes like Serena Williams, Michael Phelps, Naomi Osaka and Ben Simmons have all needed help, who are we?

In order to permanently eliminate the unwanted consequences of negative emotions and feelings, it is necessary to remove their true causes once and for all - on an subconscious level. Use techniques/methods that work on an subconscious level.

It is true (to some extent) that time heals all wounds. However, I encourage you to actively approach the elimination of negative feelings and emotions - as previously said - by eliminating the subconscious causes.

When you step away from something you've deeply invested in, it's essential to allow yourself time to heal from that departure. Transitioning won't guarantee immediate alignment. As you evolve, remember that growth often brings with it discomfort and unpredictability. A beneficial approach is to set milestones for your new path. Tackle your journey in stages, giving yourself the grace to adjust along the way.

Leaving your business is a profound transition. Firstly, honor the emotions—acknowledge the journey, successes, and challenges. Embrace change as a natural part of growth. Cultivate a support network; share your feelings with trusted friends or mentors. Reflect on the lessons learned, extracting wisdom for future endeavors. Channel the emotional energy into a constructive outlet—whether starting a new venture or mentoring others. Remember, closure is a process, not an event. Be patient with yourself, celebrate your achievements, and eagerly anticipate the exciting possibilities ahead.