5 Ways to Spend the Funds and Your Time After Selling Your Business

When you spend a large part of your life building a business, the idea of selling it can be overwhelming. What will you do with your time? How will you fill your days with purpose?

You may also be struggling to decide if now is the right time to make a transition. You don’t know whether the economy might pick up more in another year. But, you also don’t know where your business will be in a year.

Choosing to make a sale can free you up to invest your time in new ways. And when you prepare for the sale of your business well, you can ensure you get the best price whenever you choose to pull the trigger. Read on to discover the possibilities.

1. Hire a Personal Trainer and Nutritionist

After running a business for many years, you have most likely let many of your health goals go. After all, it’s not easy to keep up with a growing company and still have time to plan all of your meals and get to the gym.

Consider using a small portion of your earnings to hire a personal trainer and a nutritionist. They can help you get to come up with a diet and exercise plan that will ensure you stay healthy through your retirement so that you can do all of the things you’ve always wanted to do.

2. Plan a Romantic Getaway

If you’re involved in a long term relationship, most likely your spouse has given up a lot to help you achieve your business goals. As you transition out of the lifestyle of leaving for work every day, it’s important for you to reinvest in your relationship if you want it to grow even stronger.

Consider planning a romantic getaway with your spouse to thank them for all of their sacrifices over the years. You could take them somewhere far away and exotic, or maybe just plan a quiet camping trip in the woods near your home. What really matters is that you are spending uninterrupted quality time with them.

3. Fulfill Your Childhood Dreams and Invest in a New Career Path

Just because you started a successful business doesn’t mean it was the career of your dreams. There is still time to make your childhood goals a reality.

Think back to what you really wanted to be when you were a kid and give it a shot. Now that you are selling your business, you have the time and money to invest in a new vision.

4. Give Back to Your Community

The last thing you want is to die feeling like you haven’t made an impact on the world. As a business owner, you know that you have created jobs. Your efforts have helped to put food on the table for many families. But, there are even more steps you can take to have an impact.

Not only is giving back to your community a great way to leave a lasting legacy, but it’s also a great way to get a break on your taxes. After selling your business, it may feel like you are turning a ton of money over to the government. By participating in charity, you can put your dollars to a more direct purpose.

5. Spend Time with Old Friends and Long Lost Family Members

When you are caught up in the day to day operations of a business, it’s difficult to keep in contact with all of the people that are important to you. But now that you have more time, you can reprioritize your relationships.

Consider reaching out to old friends and family members that you might have lost contact with over the years. Even if things are a little awkward at first, it’s worth making the effort.

Who to Go to When You’re Considering Selling Your Business

Once you sell your business, a whole new world of possibilities opens up to you. All you have to do is take the first step.

If you’re ready for an evaluation of your business and want to put together a plan to ensure you get top dollar when you sell, contact us today.