In the Forbes article, “What To Do After Your Last Entrepreneurial Exit,” Steve Braverman shares his observations on ways entrepreneurs can leverage their success-forging habits after their exit and empower successors to preserve their legacy.
Entrepreneurs rarely sit still. They risk it all to start new companies, build empires, then exit and repeat the process. Some ventures succeed, while others crash and burn. To an entrepreneur, the ups and downs are all part of the lifestyle — until the day of the final exit. A rare few may start new companies as long as they still draw breath, but most entrepreneurs eventually begin to dream of life after business. As much as lifelong grinders deserve rest and relaxation, however, many find it difficult to turn off the habits that made them so successful in their working lives.
How to Shift Away from Entrepreneurial Life
If you have recently made your last exit or are considering stepping down to enjoy other parts of life, don’t panic. You don’t have to abandon the personality traits that made you successful to appreciate what comes next. On the contrary, the skills and mindset you developed as an entrepreneur can help you make the most of your post-founder years.
“Entrepreneurs thrive on the excitement and specificity of envisioning the future and planning for it,” says Steve Braverman, co-CEO of family office advisory firm Pathstone. “The good habits and fast-paced expectations that entrepreneurs pride themselves on can actually serve quite well, so there is no need to feel unequipped or fear the unknown.”
According to Braverman, that goes double for entrepreneurs who maintain a presence on boards and in advisory capacities after giving up CEO duties. “While your ‘exit’ is the reward when building a business, it should also empower those left behind to take your vision and legacy forward, creating greater success and satisfaction for your shareholders,” he explains.