I sold my Business 6 Years ago Today

Today marks the 6 year anniversary of selling my business and reaching financial independence.  We closed the deal on September 11, 2009, I was nervous about closing on September 11 because of the 2001 World Trade Center disaster but decided that this could be positive. A new way of remembering 9/11.

Celebrating the selling of the business

Leading up to the sell was a bit unnerving. Even though I built the business with the end in mind, I still felt like I was selling my baby. Should I keep it a few more years and continue to grow it? What happens if a larger competitor comes along and squashes us?

These are the kind of emotions you feel when you are approached about selling your business. You feel a pain in your gut, a nagging voice in the back of your head saying “Am I making the right decision?”  “What will I do with my days?”,

Fast Forward 6 Years after I sold my Business

Reflecting back, I had fears about selling.

Will my Product Continue to Grow?

It has grown much faster than if I had not sold it. The acquiring company has more resources to commit to it and has done a great job increasing the market share.

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Will my Employees Thrive once I Leave?

Only one of my original employees currently work for the acquiring company. If I had foreseen that when I was contemplating selling, I would have freaked out. However, that actually worked out to be positive. Each former employee has an even better job, making more money and with more responsibility. So it was just a natural progression of their career path.

Will I Get Bored Being Retired?

I thought I would really miss being in the corporate world but the reverse is true. I love being able to craft my day the way I wish. I can exercise in the middle of the day, golf when it’s less crowded and volunteer when I feel inspired.

I can also work on projects that really inspire me without the need for a steady paycheck. I’m now developing mobile apps in my spare time and blogging a lot. My wife and I also travel a lot. I’m not bored at all.

Conclusion

If you’re an entrepreneur that has built a business than can provide financial independence and are faced with a decision to sell, believe me, it works out just fine!

About this Blog

Steve and his wife built a software company, sold it and retired early. Steve enjoys blogging about lifestyle freedom, financial independence and technology. If you like this blog, subscribe here to get an email each time he posts.

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4 thoughts on “I sold my Business 6 Years ago Today

  1. TheMoneyMine

    Hi Steve – this is really that you have been retired for 6 years because you sold your company!

    I wanted to learn a little more about you and found a podcast where you explained some of the details of how you built your company with an exit strategy in mind and then sold it.
    I must say this is very impressive and I do like the fact that you have taken a different approach to frugality, that is so often the #1 method of achieving financial independence.

    Would love to learn more about your previous business, how you started it, how you overcame the challenge of getting the first customer, then growing the base and finally selling out.
    Do you think about writing more articles on the subject?

    Nick
    TheMoneyMine recently posted…Set Yourself Up for Success and Join The Million Dollar ClubMy Profile

    Reply
    1. Steve Miller Post author

      Hey Nick! I do write about business related subjects on this blog, see the App Development section of the site. It mostly centers around the activities of a new lifestyle business I am building. But I would be happy to write about my prior business. Maybe you should invite me to a guest post on your site with those specific questions. 🙂

      Reply
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