So, you’ve successfully sold your business and have received enough money from the sale to become financially independent, no longer having to work for a living. That is a comfortable place to be, and it is one experienced by more and more people, especially in technology-based businesses.
And what’s next?
Most successful sales of businesses, again especially in the technology arena, enrich younger entrepreneurs and stock-option holders who are under fifty years of age. Having interviewed many of these newly rich alumni, I have found that most want to take time off for an indefinite time to think out their next move, which is not a bad idea. Some immediately start to plan their next venture. And some tell me that they will just retire, finding travel, coaching, teaching and a life of leisure their most attractive alternative.
A second act?
I followed many of these stated retirees, and very few if any retiring entrepreneurs stay that way for long. Their lifestyles may change, sometimes dramatically, but for a driven entrepreneur, a full stop is difficult over time.