Combining Multiple Post-Exit Pursuits

In our final installment of our series on Empowering Business Owners For What’s Next, we’re looking at ways to combine multiple pursuits post-exit and maintaining the right balance. After selling your business, you may find yourself with an abundance of opportunities and interests vying for your attention. This newfound freedom to pursue any and all of your interests can be exhilarating, now that you have found yourself freed of work and financial constraints, but it can still present challenges in terms of time management and prioritization. At Align Business Advisory Services, we’ve guided numerous clients through this transition, helping them create a fulfilling and balanced post-exit life. Let’s explore strategies for juggling various activities and making the most of this exciting new chapter. 

  

The key to successfully balancing multiple pursuits is to approach your post-exit life with the same strategic mindset you applied to your business. Just as you once allocated resources in your company, you now need to thoughtfully allocate your time and energy across various activities. 

 

First, it’s essential to take a comprehensive inventory of the various areas you want to explore and engage in during this new chapter of life. Consider incorporating part-time work or consulting to maintain professional engagement while having flexibility, alongside meaningful volunteer work or philanthropic endeavors that allow you to give back to your community. Make space for pursuing personal hobbies and interests you’ve always wanted to explore, while ensuring quality family time remains a priority. Include travel adventures to experience new cultures and places, and commit to continued learning through courses or educational opportunities that spark your curiosity. Focus on maintaining physical fitness and health through regular exercise and wellness activities, while also nurturing your spiritual or personal development through practices that bring you inner peace and growth.

  

Once you have this list, it’s time to prioritize. Consider which activities align most closely with your values and long-term goals. What will bring you the most fulfillment? What commitments are non-negotiable? 

  

Remember, you don’t have to do everything at once. Many of our clients at Align find success in adopting a phased approach. For example, you might focus on family time and travel for the first six months after selling your business, then gradually introduce volunteering and part-time work as you settle into your new rhythm. 

  

Time management becomes crucial when juggling multiple pursuits. Here are some strategies that have worked well for our clients: 

  

1. Create a flexible schedule: Allocate specific days or time blocks for different activities. This provides structure while still allowing for spontaneity.

  

2. Use productivity tools: Utilize calendar apps, task managers, or project management software to keep track of your various commitments.

  

3. Learn to say no: It’s okay to decline opportunities that don’t align with your priorities or that would overextend you.

  

4. Build in buffer time: Don’t schedule every minute of your day. Leave room for unexpected opportunities or simply for rest and reflection.

  

5. Regular review and adjustment: Set aside time each month to assess your activities and make adjustments as needed.

  

One of the challenges in this new phase of life is maintaining a sense of purpose and achievement without the structured goals of running a business. To address this, consider setting personal objectives for each of your pursuits. These don’t have to be as rigid as business targets, but having some goals can provide direction and a sense of progress. 

  

For instance, if you’re engaging in volunteer work, you might set a goal to contribute a certain number of hours each month or to take on a leadership role in a specific project. If you’re pursuing a new hobby, perhaps you aim to reach a certain skill level or complete a particular project by a set date. 

  

Balancing multiple pursuits also involves managing your energy, not just your time. Pay attention to which activities energize you and which ones drain you. Try to structure your days and weeks so that more demanding activities are balanced with those that rejuvenate you. 

  

It’s also important to recognize that your interests and priorities may shift over time. The balance that works for you immediately after selling your business may not be the same a year or two down the line. Be open to evolving your approach as you discover what truly resonates with you in this new phase of life. 

  

One strategy that many of our clients find helpful is to create themes for different periods. For example, you might dedicate a quarter to focusing on health and fitness, another to travel and cultural experiences, and another to diving deep into a particular volunteer cause. This approach allows you to fully immerse yourself in different areas while still maintaining some involvement in your other pursuits. 

  

Remember to include your partner or family in your planning process. Your new lifestyle will likely impact them as well, and their input can be valuable in creating a balance that works for everyone. 

  

While it’s great to be active and engaged, don’t underestimate the value of downtime. After years of running a business, it can be tempting to fill every moment with activity. However, allowing yourself periods of rest and reflection is crucial for maintaining balance and avoiding burnout. 

  

If you find yourself struggling to juggle everything, it might be time to reassess. Are you taking on too much? Are all of your current pursuits truly aligned with your values and goals? Sometimes, the most powerful step you can take is to let go of activities that no longer serve you, making room for what truly matters. 

  

It’s also worth considering ways in which your various pursuits might complement each other. For example, your volunteer work might inform your part-time consulting, or your travel experiences might inspire a new hobby. Looking for these synergies can make your diverse activities feel more integrated and purposeful. 

  

Finally, don’t forget to celebrate your achievements and milestones, no matter how small they might seem. Recognizing your progress across your various pursuits can provide a sense of accomplishment and motivation to continue exploring and growing. 

  

Balancing multiple post-exit pursuits is indeed a juggling act, but it’s one that can lead to a rich, fulfilling life. It’s about creating a lifestyle that allows you to explore your interests, contribute to your community, spend time with loved ones, and continue growing as an individual. 

  

At Align, we’re committed to supporting our clients through this exciting but sometimes challenging transition from full-time business involvement. Remember, there’s no one-size-fits-all approach to post-exit life. The perfect balance for you will be as unique as your individual interests, values, and goals. Embrace the process of discovery, be patient with yourself as you find your rhythm, and don’t be afraid to make adjustments along the way.