According to two surveys, things change for founders when they sell their business.1 Do they realize their dreams?
Yes
Seventy-eight percent claim that the sale enhanced their lifestyle.
More specifically, on a scale of 1 to 10, they say –
Their day-to-day levels of stress dropped 35%, or from a rating of 6.5 to 4.2;
Their “Life Satisfaction” rose 21% or from 7.0 to 8.5.
So it seems that most founders who sell their businesses do achieve the rewards they hoped they would.
Yet Also No
After selling, 60% reported a “Sense of Loss or Purposelessness,” and 30% said they faced “Mental Health Challenges.” A substantial portion of these challenged people sought treatment for that angst, according to another survey (one we’d like to see independently replicated since the level of unhappiness seems high).
And while I’m at it, didn’t you expect “Life Satisfaction” to rise by more than 21%?
Restless Hearts
As the Eagles say, “it's those restless hearts that never mend,” climbing the heights of one mountain only to see and strive for the next one
In Factoid #8, we talk about why company owners cash out.