How do you handle the emotional toll of exiting your business?

It’s understandable to have a mixed set of emotions when exiting. In my experience with my ventures and portfolio companies, I want to share some reasons that may be helpful: 1. The original vision of the company has changed and I am no longer as passionate as I was. 2. My financial situation has changed and getting out of the business is best for me and my family. 3. I found a buyer for the business and the employees can be retained. 4. I’m a builder and it’s past the point of my interest and skill set. 5. It’s time for a new experience to enter the business. 6. The investors and other people involved are making it more stressful than fulfilling. 7. I’ve changed but the business is the same. Good luck on this journey ????

When it comes to an exit, there is a huge difference between the survivors and the observers. The people who’ve gone though it will know what your going through. The roller coaster of sadness and joy that comes with selling your company for a lot of money, and seeing your creation be taken away from you. The observers assume you’re as happy as magazine covers say you should be. Make sure you find your tribe and share your true feelings.

Build a team where “you would want to be stuck together for 3 days in the airport.” Make a habit to ask, “How are you” and mean it before starting a meeting or in 1:1s. Genuine care for each other matters most. Then the celebrations also become more meaningful.

Exiting a business is often seen a sign of being a successful entrepreneur. When you exit make sure that: - you thank your team for being there - you thank your stakeholders and board members - you celebrate the win by throwing a party - you make everyone celebrate the accomplishments you have achieved together

Mostly entrepreneurs start a venture because of their passion to solve a problem. Exiting the business doesn't mean that the problem is solved or the passion is over. You can always start a fresh, teaching young entrepreneur, investing in businesses that are solving the problem you are passionate about. Exiting is not the end, it is just a new beginning.

One of the hardest nights of my life was the night before my first exit closed. I wanted to believe that we could achieve our mission in the new company, but deep inside I knew it was over. The acquiring company had a competing business and our products were going to be sunset. But I learned something important about myself from that experience: I prioritized impact over status. I’d rather make a dent in the universe than get rich. I don’t know if I would have ever come to that realization if that exit didn’t illustrate it so vividly.

In serial entrepreneurship, it's the norm to exit one business and start or continue another. Reflecting on your accomplishments is an important aspect of handling the emotional toll of exiting a business. I use my break time as an opportunity for personal and professional growth: I travel, read business books, and take business courses. All this gives me inspiration and energy for new beginnings. My first exit from the business was a bit intimidating in the sense of "this story is over, what's next?" I noticed over time that there are a lot of opportunities. It gives me a list of milestones to which I begin to move with the skill that I acquired. And each new step in my beginnings becomes easier and more correct.

Immerse yourself with people you love and trust, make time to be kind to yourself, and above all make peace with what you can’t control. These three mantras are always good advice. But during an exit they become more important than ever. Because you have less control over your circumstances than you did before. This can be a painful readjustment. More specifically, don’t try to force more control in the new company than you’re owed. In many situations the best thing to do is to keep a lower profile and allow other leaders to emerge.

Throughout the entrepreneurship journey self care is essential. Your team and customers deserve you to be rested and making smart, wise decisions. While there is a lot of “hustle” to starting or running a business, self care needs to be a non-negotiable. Then when you need to exit, you are not already in a wellness deficit.

Prepare Yourself & Build Bridges: Exiting any job means leaving behind the intellectual, physical, and social aspects of that gig, which is hard for everyone. When you're the owner, it's hard on steriod. Quitting anything cold turkey is challenging so it is crucial to begin building the bridges to your next adventure well in advance. For example, if you want to serve on boards, start now to build the relationships you need to identify which organizations and how to network into them. Get on it before you exit your business while you still have the cred of being active in your field. Research your other interests, think about how you want to engage in them and set the stage so you can slip into those activities seamlessly post-exit.