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Post-Exit Exit Planning: Page 3 of 3

With careful planning and some soul searching, channel pros who sell their business can have a new beginning—whether’s that’s another career or retirement. By Carolyn Heinze
Reader ROI: 
SELF-REFLECTION prior to selling your IT service business can help chart a smooth transition to the next phase of life.
DEFINE YOUR sense of purpose, and create a plan or enlist professionals to help you achieve professional/personal objectives.
IF RETIREMENT is the goal, include your spouse or partner in planning, and try a “dry run” if you intend a move to a new home.

Plan With Your Spouse

If you’re married or living with a longtime companion, retirement planning should be a team effort. Gilbert notes that one of the most important discussion topics should focus on time. Whether both spouses work together, work separately, or one works and one stays home, they likely don’t spend as much time together as they will in retirement. This, he says, may take some getting used to.

Fritz Gilbert

It’s equally important to discuss how much time each spouse will dedicate to their own activities. In his case, Gilbert describes this as dividing up “we time,” “he time,” and “she time.” Having this conversation in advance sets expectations, and helps to prevent friction when both spouses are actually retired.

For Gilbert, retirement is a starting line––not a finish line. The same can be said for starting a new business or venture after selling your company. “It’s a brand-new beginning––you can do anything you want to do,” he says. “What an incredible opportunity in life.”

Image: iStock Photo

About the Author

CAROLYN HEINZE is a regular freelance contributor to ChannelPro-SMB.

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