Okay. You’ve made it. You’ve hit the jackpot! Well done.
You worked hard, you worked smart and you had a bit of luck and now here you are at the top. You’ve just sold your business and it seems all the hard work and sacrifices have paid off. The pictures on your wall all tell the story of your success and maybe with a fine glass of red in hand, now it’s time to enjoy.
But watch out….there is a chapter coming no one told you about.
I sold my businesses just before the crises in 2008. A portfolio of businesses and real estate developments I had built in emerging markets that had been flooded with liquidity. I was getting paid 10x future earnings for some stuff, and selling assets at cap rates of 5% when I had developed them at 17%. It was fantasy land and I was feeling like the Cheshire Cat. The yield compression in these markets made a lot of people very rich. Getting out at the top gave me guru status and the money helped fuel my ego. And why not. Right? I really did deserve it.
So what’s an entrepreneur to do? Well in my case, I did what I think a lot of successful entrepreneurs might do; I bought summer homes, a ranch, horses, cattle, rented yachts and cruised, went on great holidays and enjoyed life as much as I could. There wasn’t anything entrepreneur I wouldn’t consider doing or buying. I was spending capital on tons of non-producing non-revenue generating assets and pastimes.
And that’s when it gets dangerous.
Worse still, I started believing my own press, forgot that I had done this with lots of other people who helped me, and thought I was the cat’s pyjamas. I was a nightmare to be around my head was so big and I was so important. And like I said, add on top of that I was burning through capital.
My very rich uncle once told me, “any idiot can make money, the hard part is keeping it”. Boy was he right! At the time I just laughed with him sipping a cool drink looking over the Med.
So I started a spiral down a dark hole for many years and until finally I had to pull myself out of the hole, get some humility and honesty back into may life and start again. And it wasn’t easy. Reinventing yourself after a hugely successful career can be difficult. The thing is though, it can be avoided with some foresight and planning.
So if your an executive exiting with a hefty pay package, or a successful entrepreneur selling out. Watch out for what lays ahead. Make a plan, and be sensible because you might not have another chance. Exiting businesses and creating a “Life After”can and should be just as important as your business.
I’m a seasoned start-up entrepreneur and property financier who built built businesses worth over $200 million. Since 1992, I helped start a bank credit department, founded a mortgage company, and built the largest single-branded real estate company across five countries in Central Europe. I also developed a portfolio of shopping centers and hypermarkets in Eastern Europe, constructing over two million square feet of retail space.
Today I am involved in the entrepreneur community, trying to share what I’ve learned and I serve as a mentor for startups.
I have authored a new business startup report called “How To Start A Business”. This shows you how to find, enter and profit immediately from a high demand market with virtually no competition… what I call a Blue-Sky Market!
This is how I could turn £400 into £50,000 in just 8 weeks.
Blue-Sky Markets are all around us. You just have to know where to look and have the courage to do things a little different.
To grab your free copy just click the link below: