How Your Life Will Change After Selling Your Business

About the Episode

How much had you thought about what life will be like after you sell your business? Join serial entrepreneur and private equity operator Jim Evanger to learn about the life changes after selling a business. Jim shares his experience of selling his first business, the emotional impact, and the subsequent transition to new ventures.

If I were an entrepreneur thinking about selling my business, I would want to first define why—why am I interested in doing this, and what am I hoping to get out of it?

Jim Evanger

What You’ll Learn

• Define Your “Why” Before Selling: Understanding your motivations for selling your business helps guide the process and ensures you make decisions aligned with your goals and values.
• Expect Emotional Ups and Downs: Selling a business can be emotionally challenging, often bringing feelings of loss or uncertainty. It’s important to prepare for this transition and seek support from advisors and mentors.
• Build a Strong Advisory Team: Having trusted financial, legal, and personal advisors is invaluable during the sale process and beyond, helping you navigate complex decisions and emotional hurdles.
• Surround Yourself with the Right People: Success after an exit often depends on building a capable team, whether it’s finding the right operator to run your business or partnering with experts to grow new ventures.
• Embrace Learning and Resilience: Not every venture will succeed, but each experience offers valuable lessons. Viewing setbacks as learning opportunities is key to long-term success in entrepreneurship.

Topics Covered

Want More? Related Resources:

• Should I Sell My Business?
• Tips on Preparing Your Business for Sale
• The Importance of Persistence When Selling a Business

Meet Our Guest

Jim Evanger

Operating Partner and Interim CEO for PE-owned Businesses | Florida, USA

Jim Evanger has had a diverse leadership career, having built executive teams in Fortune 100, middle market, and entrepreneurial start-up businesses. His industry experience spans healthcare, retail, franchising, light manufacturing, and private equity. Most recently, Jim has been a Private Equity Operating Partner and Interim CEO for PE-owned businesses ranging in size between $5 million to $100 million.

LinkedIn: https://www.linkedin.com/in/jimevanger/