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Featured BusinessesSo, you’ve sold your business. What’s to do next?

So, you’ve sold your business. What’s to do next?

You’ve sold your business!
Congratulations are in order, but we also understand that letting go of your venture can be difficult. You’ve invested all your time and effort into marketing your services, growing into your market, then
valuing your business, finding a suitable buyer and now you have to let go of your company entirely. The process of selling a business is more stressful than most would believe!

Now that you’ve made the big move, what’s to do next?

Buy a New Business

You have had so much success with your latest venture that it would be a shame to stop now! Your hands are significantly less full, so it may be time to buy a businessagain. Whether you’re confident staying in the industry your last business was in, or you’re looking to shake it up and move to a topic you find more exciting, you have free rein to decide what you want to invest in next!

What’s more is you’ve gained more experience from your most recent sale, so you’re even better equipped to navigate a new project. Being a business owner may perfectly suit your lifestyle with flexible working hours, and your personality strengths, such as your confidence. If this is the case then there is no reason for you to stop!

Volunteer Work

If the profit you’ve made from selling your business is great enough, you may decide you don’t need to take a paid job role again. Volunteer work is available to give your life a bit of structure, but with very flexible hours and a wide range of job roles. Volunteer tasks are typically very easy to fulfil, but they’re great socially, and they support local charities.

If you’re looking to unwind a little after a stressful business venture, volunteer work may be more than enough for you. You’ll still receive the benefits of working alongside friendly colleagues, but there’s less pressure on your performance.

Volunteer work can also be taken up alongside a part-time paid job role, so if you’re passionate about a charity and you’ve just sold your business, you can contribute even if you still want some paid work.

Retirement

You might have decided to sell your business to enjoy your retirement fully. It is possible to remain a business owner while retired. However, the responsibility is still there to sign off on major decisions and ensure that your company is complying with the law.

Selling your business before retirement provides a nice chunk of money to help you enjoy life without the worry of debt. Your business is of better value to somebody who wants to actively be involved with the day-to-day, and you deserve to relax without financial stress once you’ve decided to retire.

Retirement allows you to spend time relaxing with activities you enjoy, like visiting friends or gardening, but it also doesn’t have to be final. You can still provide friendly advice to business owners who would appreciate your expertise, or you can take up volunteer job roles at a later date if you miss the structure of a working day.

Selling a business doesn’t mean the end of your purpose! The close of one professional chapter is often the start of a new venture, and nothing has to be final. There are so many opportunities for work that it makes sense to consider a career change because life is short.

If your aim is retirement, selling your business is an excellent step to financial security and ridding yourself of unnecessary stress. If you’re not ready to throw in the towel on owning and transforming businesses, then you have the excitement of being able to start a new project. Don’t stress, and enjoy your newfound freedom!

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