You’re building a $22-million house in Vancouver. You’re a little paranoid, so you’ve put hurricane-proof glass in the windows and specified that all the walls must be at least two feet thick. It seems you’ve thought of everything.
Fast forward to two months before move-in date. The contractors are finishing the hardwood floors, and the solvents catch fire. While everyone gets out safely, the house itself isn’t so lucky. Normally, firefighters would have doused the blaze quickly. But those windows and walls? Impenetrable. Even for the fire department.
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The contract is signed. The cheque is cashed. Your business has been sold or you’ve been given a golden handshake. Now what?
It’s a question many former company owners have a tough time answering. Whether you’re looking to sail around the world, start a new enterprise, or spend time with your family, you must now figure out what to do with your money—and with your life.
Here are 13 things business owners should do after leaving.
Shifting gears in a rush increases the likelihood of missteps, financial and otherwise. Take some time to reflect on what’s happened, and what’s to come. You don’t need to accomplish everything at once.
- Define your goals
Do you want to spend time with family? Travel? Get involved in a charity or a community cause? Start a new business? Write it down.