What's the next step for entrepreneurs after selling their business

EVERY entrepreneur has a dream for their business. There are those who've built a business around their personal passions and lifestyles and have no intention of selling while others aim to grow and scale their business so they can exit and retire or start a new venture.

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Much like letting go of a child, exiting a business can be emotional and for many entrepreneurs the journey is lonely.

Having a support network of people who can act as your sounding board, who have bought and sold businesses before and know what you are going through can make the transition far less overwhelming.

Here is some tips to entrepreneurs who are considering selling, are currently transitioning or have exited and may be wondering what's next.

Selling a business involves careful planning and execution

Key aspects include determining the business's value, preparing it for sale, finding a buyer, and negotiating the sale.

NICOLA NEL

Having a capital advisor and trusted professional support during the merger or acquisition is crucial.

When I first decided I wanted to scale my business I joined the EO Accelerator programme called “Scale Up”.

The scaling process follows a structured approach focusing on four quadrants: cash, execution, strategy and people.

There's a little bit of wizardry that comes together when you follow this methodology. Not only was I was able to grow my business, I transformed it into a sellable asset.