Apr 24, 2023
business can be a dream come true. But there are some surprising
realizations you and your spouse or significant other will make
once the sale is done. In this episode, I discuss some of the
lessons I've learned about life after the sale of a business. I
explain the sense of loss that many entrepreneurs feel after
they've sold their companies. I also give some tips to prepare for
life outside your business, so you can make the transition to
"civilian life" as simple as possible.
This week on The Financially Simple Podcast:
(1:30) Burdens carried by our significant others
(2:49) The question
(4:34) There are rewards from selling your business
(6:50) The emotional toll of selling a business
(9:15) The link between business owners and their companies
(11:01) How do you prepare for life after the sale?
(13:01) Learning to live with your significant other... again
(14:53) Give like no one else
Our Favorite Quotes:
"When people ask me about my own recent sale, they're often shocked
by my answer. You see, while I don't regret selling my companies,
there's a sense of loss that I can only compare to the loss of a
child." - Justin Goodbread
About The Financially Simple Podcast
If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.
If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.