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What will you do after you Exit your business?

Monday, December 18, 2023

Post Exit - Entrepreneurial Ventures in Retirement

Ready to sit in the sun and relax? Or not?

As a small business owner approaching retirement, the prospect of leaving the daily grind behind might be both exciting and daunting.

While some entrepreneurs eagerly look forward to a leisurely retirement, others find it challenging to imagine a life without the hustle and bustle of business.

If you fall into the latter category, the good news is that retirement doesn't have to mean the end of your entrepreneurship.

Consider exploring smaller entrepreneurial ventures that align with your passions and interests, allowing you to transition into this new chapter with purpose and fulfillment.

Some options to keep you busy

1.Part-Time Consultancy:

One of the most seamless ways to leverage your expertise and experience is by offering part-time consultancy services. This could involve providing strategic advice, sharing industry insights, or offering specialized knowledge to businesses or individuals seeking guidance. Consulting allows you to maintain a connection with your field while enjoying the flexibility of part-time work.

2. Mentoring:

Share your wealth of knowledge and skills by becoming a mentor. Many aspiring entrepreneurs and small business owners would benefit from your guidance. Whether you choose to mentor through local business organizations, online platforms, or educational institutions, your insights can help nurture the next generation of business leaders.

3. Starting a New Business on a Smaller Scale:

If the entrepreneurial fire still burns within you, consider starting a new business on a smaller scale. This could be a passion project or a venture that aligns with your personal interests. The key is to keep it manageable, allowing you to enjoy the process without the stress associated with running a larger enterprise.

4. Niche Ventures:

Explore niche markets that align with your interests or hobbies. This could involve turning a personal passion into a small business, such as crafting, specialty foods, or unique services. These ventures may not only provide financial returns but also bring a sense of joy and fulfillment.

5. Community Involvement:

Consider entrepreneurial ventures that contribute to your community. This could involve starting a local service, collaborating with local artisans, or initiating projects that address specific community needs. Connecting with your community in this way can be immensely rewarding.

6. Technology and Innovation:

Stay abreast of technological advancements and explore opportunities in the digital space. This might involve creating an online platform, offering digital services, or even launching a tech-related startup. Embrace the digital age and leverage your business acumen in innovative ways.

7. Balancing Work and Leisure:

Whatever entrepreneurial venture you choose, be mindful of maintaining a balance between work and leisure. Retirement should bring joy and relaxation, so choose ventures that allow you to set your own pace and enjoy the benefits of your hard-earned free time.

Retirement doesn't have to mark the end of your entrepreneurial journey; rather, it can be the beginning of a new and exciting chapter.

By exploring smaller ventures that align with your passions, you can continue to contribute your expertise, stay engaged in the business world, and find fulfillment in the process. And you can build with the end in mind - applying al lthat you have learned through exit.

Whether it's consultancy, mentoring, or a new small-scale business, the key is to tailor your entrepreneurial pursuits to match your desired lifestyle in retirement.

Embrace the opportunities that lie ahead, and savor the satisfaction of entrepreneurship on your own terms.

Life is an adventure.
To Exit and Beyond.


Hi, I'm Tracy Gunn

Co Founder of Exitable

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