So we closed on the sale of my 22-year-old manufacturing business three months ago. The handover period officially ended last Friday. I stayed on for the standard 90 days to help the new owner and train his team. Now I'm sitting in my kitchen at 10am on a Tuesday with nothing to do. I didn't expect to feel this lost. Has anyone else gone through this? I thought I'd be relieved, but I mostly feel like I lost my identity. Any advice on what to do next, or how to handle the transition?
post-sale
What to do after the handover ends
I had a similar experience after selling my distribution company. What helped me was setting a small routine earl on, even before I figured out what I wanted to do long-term. I started walking every morning at 7, then coffee, then a couple hours of reading. Just having some structure kept me from feeling completely unmoored.
Honestly, I would take a few weeks to do nothing. You just sold a business after 22 years. That's a huge life event. Give yourself some grace.
I agree with kepler_22. But I'd also say be careful about jumping into another business too fast. My father sold his company, got bored two months later, bought a restaurant, and hatedd it. He said he was chasing the feeling of being needed rather than actually wanting the work.
MargoByTheSea that's exactly the kind of thing I'm worried about. I've already had a few people approach me about investing in their ventures. I'm not interested but I feel like I should be doing something. TundraPatriot the routine idea is helpful. Did you feel strange being the one in charge and suddenly having no one to direct
Yes, that was a big part of it. I don't think I realized how much of my identity was tied to being the boss. For the first month or so, I felt almost useless. It sounds strange, but I had to relearn how to just be a person.
I'm about a year out from my exit. The identity thing is real but for me the harder piece was the social aspect. I didn't realize how many of my daily interactions were with employees and customers. Losing that was a big adjustment
HollowOak that's a good point. How did you deal with that?
I joined a business owners group that meEts once a month, mostly former owners like me. It's not for everyone, but having a place to talk shop without actually running a business is nice. I also started playing racquetball again. Weirdly, that's helped more than the group.
Wait, are you saying you're bored, OP? I'd kill to be in your position. I'm still grinding every Day and can't sell for another few years. Not trying to be rude, just genuinely curious what you're feeling besides boredom.
petrichor9 not bored exactly. More like I'm waiting for something and I don't know what. It's weird to have a schedule that was full for two decades suddenly be empty. I know it's a good problem to have. I do feel grateful.
One thing no one has mentioned yet: the handover period itself can be an odd emotional ride. You're still there but you're not really in charge. I found it harder than the actual sale. When it ended, at least I knew it was over.
I haven't sold yet, but I read a lot about the emotional side of exits. A few people recommend doing something creative or completely unrelated to compete with the loss of work. Like a woodworking class or learning an instrument. Something that has nothing to do with your old business.
RustyAnchor I did a pottery class. I was terrible at it. But it was nice to be a beginner at something. When you've been an expert in your field for years, it's easy to forget that being bad at something is a helpful experience.
Two other things from my own experience. First, don't be surprised if the new owner stops calling after the handover. That's normal. It can sting but it's not personal. Second, if you can, maybe take a real trip. I didn't, and I regret it. I was so caught up in being available that that I didn't give myself the chance to decompress.
HollowOak the new owner and I got along well and he's been respectful, but I did notice the calls dropped off last week. It's strange to think that after 22 years, I'm just done. I appreciate all the perspectives. Maybe a trip is a good idea. I'm going to talk to my wife about that.
Good luck, Op. Stick around and let us know how it goes.