Hey guys, I have recently sold my business for multiple 6-figures (between 100k and 500k) and now I’m feeling lost and almost a bit depressed.
I always thought that exiting a business would bring me joy but it was almost the opposite.
I find myself in a strange situation where I have enough money not to have to work for a bit, but not enough to retire, and at the same time since I don’t have any new money coming in, I found myself becoming extremely frugal.
I tried starting new projects but I often find myself getting discouraged because the project doesn’t start working right away. Additionally, since I’m venturing into something new that I’ve never done before, doubts start creeping into my mind.
Alongside these doubts, there is also the fear of investing a significant amount of money into this project, and after seeing it fail finding myself in the same financial situation I was in before the exit.
Can any of you relate to this situation? Do you have any suggestions?
Getting to your goal > achieving your goal. What you’re going thru is pretty common., so you are not alone.
How long ago have you sold the company? And when does the non-compete ends? In what market? Maybe you can re-entree the market from another angle, so that you can build on your previous network and momentum.
Put 60% into savings and/or a safe investment heaven. And use 20% as starting money for your new venture. Identify honestly what made the first comp. successful, and what not.
Why did your previous projects fail? Too afraid to invest?
That’s a really good point, I could invest 10k in the new project and see how it goes.
I think that my past projects failed because I was doing something totally different from the skills that I built with the previous project, and I wasn’t giving them the necessary time to develop into profitable ventures.
Also fear of investing capital and wasting money.
Mentorship?
I understand you’re depressed about this but there are many entrepreneurs that would love to be where You’re at. Take advantage of it and in the process. Find a niche you like based off the founders you mentor. Maybe work for advisor shares or stock options if you think you would want to go along with their endeavors. This way you don’t have to worry about dealing with starting from scratch but in something that perhaps midway or is profitable but at a stuck point.
Could challenge yourself that way and get paid for pursuing those challenges.
First off, congrats on the exit! 🚀 It’s a huge achievement, but I totally get the post-exit blues. It’s like finishing a great TV series and not knowing what to watch next. Your business was your show, and now you’re browsing Netflix with a blank stare. Remember, it’s okay to feel lost; you’ve just closed a major chapter.
Here’s a thought: why not treat this phase as your ‘pilot season’? Experiment with different ‘genres’ (projects). Some pilots fail, but that’s how you find your next hit series. And about being frugal, it’s not Scrooge behavior, it’s smart. Keeps you grounded!
About the fear of investing, ever heard of the ‘Mini-Musk’ strategy? Think of Elon Musk post-PayPal. He went all-in with his next ventures, but you don’t have to. Invest small, test your ideas like mini-rockets, and see which one is ready for Mars. 🚀
And hey, most importantly, take time to celebrate your success. You’ve earned it! 🎉
I would say invest in real estate which will help in your retirement.
Maybe use 50-60% of the money on Real Estate.
Then use 5-15% on acquiring innovative products and start working on them.
If you’re not motivated enough to work, just try to earn your monthly living so that you don’t spend from your savings. This is the bare minimum you can do.