April 9, 2015

Cash out… and then what?

An article on NYTimes.com caught my eye recently: “Entrepreneurs Who Cash Out Look for Meaningful Second Acts”. In the piece, Darren Dahl analyses what business owners go on to do after they’ve sold their business.

Dahl uncovers an interesting point – that post-sale, an entrepreneur begins to realize how much of his identity was wrapped up in owning his own business. There is that key question: “If I am no longer a business owner, what am I?”

Having sold five of my previous companies, I know the feeling. I enjoyed the additional freedom I acquired each time, and I enjoyed being able to do anything I wanted to do.

But I was always on the search for something new that I really would enjoy doing. Now I am blogging, invited as a speaker to various events and giving consultancy services to business owners. And I still have time to produce my music. I think I am where I want to be. ☺

Dahl’s report also quotes Jennifer Kalita, a US business consultant, reflecting on such cases: “The entrepreneur has already proven something to himself and others [in the first act]. He and we know he can do it. The second act is more about what he wants to do — for his customers, for the environment, and for the legacy he wishes to leave.”

To read Darren Dahl’s article: Entrepreneurs look for meaningful second acts

The oldie of the week: Diana Ross – Do You Know Where You’re Going To (1975)

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