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.
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.
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.
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.
If you like this post, you might also like these prior posts:
- 5 Budgeting Tips
- How to Build a Product Website
- Market Correction: Don’t Freak Out!
- An Entrepreneurial Strategy for Selling a Company