TMBA 329: The Exit

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When Dan and Ian stumbled upon Jeff Giesea’s article in the Harvard Business Review titled “Dealing With the Emotional Fallout of Selling Your Business“ it struck a chord because they’ve recently sold the largest business they have ever created and are still in ‘tailspin’ about the whole process.

So they decided to invite Jeff (who has been through a similar experience a couple of times) onto the show to talk about his experience and insights.

In this week’s episode Jeff shares some of the mistakes he made (so that you don’t have to) and also some reflections on different aspects of the emotional fall out – positive and negative – that an ‘exit’ brings.

Transcript

Listen to this week’s show and learn:

  • How Jeff dealt with the “Identity Crisis” that he went through after selling his first business. (8:38)
  • The similarities between selling a business and selling real estate. (15:50)
  • The biggest mistakes that Jeff made during his exit. (18:51)
  • How Jeff has approached investments since selling his business. (22:54)
  • Why Jeff believes you should embrace a little bit of floating in your life after you sell your business. (27:45)

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST.

Cheers,

Dan & Ian

Published on 03.24.16
  • lion

    if I were you guys, I’d get into hands-on angel investing. with the circle and the tmba, you’re in a good position to find these opportunistic investments and it may be inspiring to be around a hungry energy; no mind tricks needed.

    I follow one of your old mentees, Taylor Pearson, and it seems like his in a similar drifting situation. if you wanted to start a business it may not be a bad idea to partner with him
    and if you ever wanted free interns, I definitely would not mind

  • http://www.tropicalmba.com/ Dan Andrews

    yeah i think you are on to something, actually partnering with Taylor right now on a project! :) in that relationship, i’m defo the drifter :)

  • http://camcollins.com/ Cam Collins

    Thanks for doing this Dan and Ian. Jeff’s story really resonated with me. Since I sold my business two years ago (http://www.tropicalmba.com/boat/) I have felt like something’s been missing in my life, even though I am working in the start-up that acquired my company.

    I wasn’t able to put my finger on it until Jeff said that his business was his platform, or actually part of who he was. Our businesses can become our identity. The blog posts we write, the apps we design, the customer relationships we build and the team we cultivate are all a reflection of who we are. When that is no longer the case, you can develop an identity crisis. Now that I have a name for it, I can confront it and move on.

  • http://www.tropicalmba.com/ Dan Andrews

    thanks Cam loved talking to Jeff. Interesting thoughts about the identity bit as well. Hope all is well with you!

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