Page 64


Will Selling Your Business Make You Happy? Cashing out of your business may provide you with time and money, but you risk losing your sense of purpose. Here are tips for evaluating the consequences. By John Warrillow*


y selling your business, you’ll have the money and time to do things that you’ve always dreamed of doing. However, the loss of purpose and social connections could leave you feeling empty. So before making such a huge decision, you need to take the time to determine what’s right for you. For some guidance on the matter, I turned to Gretchen Rubin, the author of The New York Times bestselling book The Happiness Project; Marshall Goldsmith, the author of 30 books, including his latest about getting and keeping your “mojo”; and Chris Guillebeau, the bestselling author of The Art of



Non-Conformity. Based on my conversations with Rubin, Goldsmith, and Guillebeau and my own personal experience of having recently sold a business, here are seven ways to evaluate whether selling your business will make you happy:

1. Decide what type of business owner you are

According to Goldsmith, there are two types of entrepreneurs: “Serial entrepreneurs go in with the plan to start and sell their business. They get squirrelly if they don’t sell it,” he says. “The other type is the founder who builds something fantastic over a very long time. He or she will find it very hard

Profile for European Business Review (EBR)

EBR May-August 2011  

European Business Review (EBR) magazine, issue May - August 2011

EBR May-August 2011  

European Business Review (EBR) magazine, issue May - August 2011

Profile for ebreview