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Business Owners, do you have a Life Plan for After You Sell Your Business?

Posted by EAA on Feb. 4, 2026  /  Subscribe 0

According to the Exit Planning Institute, “studies have shown that 75% of owners who exit their business are profoundly unhappy a year after the exit.” Do not be one of them.

This article explores an often-overlooked aspect of exit planning—the personal purpose of business owners after selling their ventures.

You need to start thinking about what you want your life to look like after you sell your business—before you sell it—in order to plan for a successful exit strategy. Many business owners are tied to their business; it becomes their identity. You live and breathe it 24 hours a day, seven days a week. That is understandable—you’re running a successful company. That being said, you are still a separate individual. When you sell your business, you must ask yourself: Who do I want to be? What do I want to do next in the world? If you wait until after the sale to think about that, you may find yourself sitting there wondering, “What do I do now?”

I see many business owners who want to leave a legacy—not just for their family and children, but by creating a foundation or charity. If you don’t begin exploring and researching this idea, and planning for it as part of the financial aspect of your exit, you may not have enough money to make it happen. That is why the exit process should begin two to five years in advance. Working with a life coach a year or two before your planned exit is essential, because there are many areas to research and consider seriously. As a business owner, you may have sacrificed other parts of your life—family, hobbies, health. Now it’s time to focus on you. Here are some areas you may want to explore:

Personal Purpose

Your purpose may have been based on your business, and now you’re wondering what your purpose in life will be. Many of us find our purpose in our 20s or 30s, but it can evolve as we get older. This process requires deep introspection and evaluation. As a coach, I will guide you through a process to help you discover your new purpose.

Where Do You Want to Live?

If you’re no longer tied to an office and can live anywhere, where would that be? Do you want to live near your children or grandchildren? How many homes would you like to have?

Relationships

What will your relationships look like now that you’re home more often and able to be a bigger part of your family’s life? Do you want to strengthen existing relationships? Do you want to create new friendships?

Health

Are you constantly stressed? Stress reduction techniques can be very beneficial as you go through the exit planning process. Working seven days a week, always on call, you may have neglected your health. Do you want to focus on this area? Would coming off certain medications excite you? Diet, exercise, and mental health are all key components of health that can be improved.

Hobbies & Interests

Are you worried about boredom and what you’ll do with yourself after you sell your business? I can assure you there are countless interesting things to explore when you’re not working. We can revisit hobbies you enjoyed growing up or in your 20s. If those no longer interest you, we’ll explore new ones. Maybe you want to learn a new sport—tennis, golf, and pickleball are all very popular these days. Worried about mental stimulation? Taking classes, reading, and games like chess can help. The world is your oyster.

Helping Others & Giving Back

Perhaps you’ve been so financially successful that you’d like to create a foundation or charity. You’ll need to research what goes into creating one—financing, staffing, structure. Would you prefer to support an existing charity with your money, time, or board participation? Another option is working with children—becoming a Big Brother or Big Sister. There are many children who could benefit from your nurturing and support. You could also mentor young entrepreneurs who are just starting out. Organizations like SCORE offer these opportunities. You can give as much or as little time as you like to helping others succeed. It’s up to you to decide how you want to spend your time.

Working with a Life Coach can be beneficial as you explore these different areas of your life. Your coach will hold you accountable and guide you through the process without judgment. Together, you’ll set SMART goals—Specific, Measurable, Attainable, Realistic, and Timely. A coach can work with you before, during, and after exiting your business.

In conclusion, selling your business—and how you spend your time afterward—should bring you happiness, not boredom. Stay open-minded to exploring new options, meeting new people, and creating the life you truly want. After all, you worked very hard to build a successful business. You deserve to live a full, satisfying life after the sale.

Natalie Schneider - Executive Coach Exit Planning – Act 2

Natalie Schneider is a Life Coach who works with business owners who are contemplating or in the process of selling their business. She explores with them the often-overlooked aspect of exit planning – the personal purpose of business owners after selling their ventures. She helps them create a personal plan for their life post-business exit. https://www.linkedin.com/company/exitplanningact2

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