Post-Exit: What No One Tells You After You Sell Your Company

“I’ve exited… what now?”

It sounds simple. It’s not.

In this Post Bag episode, James Johnson and Freddie Birley unpack what really happens after the deal is done - and why many founders feel something they didn’t expect.

This isn’t about tactics.
 It’s about what comes after the thing you thought you wanted.

Inside:
👉 Why the post-exit phase can feel strangely unclear
👉 The trap founders fall into next
👉 A different way to approach what’s coming

There’s one idea in this episode that changes how you think about the entire journey.

Submit your questions: hello@peer-effect.com

More from James:

Connect with James on LinkedIn or at peer-effect.com 

Transcript

SPEAKER_00 0:00

Welcome to the Pure Effect Postbag. I'm James Johnson, joined by Freddie Burley. We ask for your questions, and Freddie and I are going to tackle them together. These aren't theoretical case studies, it's the stuff keeping you up at 2 a.m. Let's get answering. Welcome to the Peer Effect Post Bag. I'm James Johnson.

SPEAKER_02 0:18

And I'm Freddie Burley.

SPEAKER_00 0:20

So Freddie, what's been up with you this week?

SPEAKER_02 0:22

I actually had a really a very nourishing week. I last year I decided I really there were so many things I wanted to read about that I was never prioritizing the time to do. So I blocked a week and I did a reading week and it was epic. And it really um it allowed it gave me the time and the headspace to dive into a few themes that have been coming up in different client sessions that I was curious about, also go back over all of my old coaching notes and frameworks and feel like a bit of a student again, and it was just amazing. So I did that again this week, and I'm I'm gonna do it twice this year and just feel very yeah, topped up by it.

SPEAKER_00 1:03

What was what was the big sort of either big books or the big takeaways you had from this this week of reflection, which is awesome?

SPEAKER_02 1:10

Yeah, so I the main thing I was diving into is around communication and how do we make emotional intelligence more accessible and more um uh framed in a way that's like a tool as opposed to it feels fluffy and ambiguous. Um, and a couple of books I'd really recommend. One non-violent communication, which is just incredible, um, diffusing like conflicts and high-stakes moments. Um and then also um emotional capitalists. I'm nearly finished with, but it's also about the importance of emotional intelligence and leadership and how you measure it and how you develop it and see it more as a muscle to train as opposed to a skill that you either have or you don't have.

SPEAKER_00 1:52

Um so yeah, those would be two of my I I think one of the great things about being a coach is that you can you get that time and distance to do stuff like this. And that's just in service of our clients because I often think that having spent so long running businesses and then we've been coached for five years, it's given me time to reflect back on that time and sort of see the patterns and go, this is what's coming up. And I think some of this this week, which I haven't done, but I'm I'm I'm seeing how I get my wife to I think with four and a half hour bit slightly harder to read.

SPEAKER_02 2:27

Well, this is the thing, because I was slightly I was almost embarrassed to talk about it because I felt like, oh, how self-indulgent or how lucky am I that I I get to do this. But then I also thought, well, I I planned and prioritized and created the time, and I found I felt a really big return on the investment in how I was showing up as a coach after I did it last year. And so it kind of reinforced the confidence in me of like, no, this is a really valuable use of my time, and what it does for me as a human makes me perform better as a coach, which I it in the short term it's kind of hard to make that equation make sense. And then when you actually do it and you're like, no, this actually really, really works.

SPEAKER_00 3:03

But I think you see a lot of the same thing, the founders you go, oh well, my my planning time isn't real work, therefore I straight in the evenings at weekends. And actually, as you were no, as as a as a Series A founder, planning is actually probably the core of what you're doing, like that thinking and planning. Yes. This is not something you squeeze in around other stuff, the doing.

SPEAKER_01 3:22

Yes.

SPEAKER_00 3:23

Actually, the doing should be squeezed in around the thinking and the planning. That's quite a hard shift to make. And when when you were saying that, I was like, A, I was very jealous that you did it, because I think I think it's a brilliant thing to do. And even my response, like, actually, do I have time? I do have time. Like, I don't have to spend all day. I can still my my son's at nursery per time. I can definitely spend allocate a week of time to do it. And actually, I think as coaches may it's something that we think is kind of secondary to the work, and maybe as we're getting stage, we are actually it's critical to the work because that's that's part of what we're bringing, the value we bring to our clients.

SPEAKER_02 3:59

100%, and also that own your evolution, your own thinking. And I I find it's really important for me to feel challenged and that I'm growing and developing, and then my clients are seeing that growth and development in the way that I'm showing up as a coach too. And it also just gives me energy when I feel like I'm learning and a problem I was observing, I now have a novel solution or a novel tool or a novel book to try out. It that makes me really excited. Yeah.

SPEAKER_00 4:25

I mean LinkedIn's something we talked about in the previous week, this idea of like pattern recognition. I think as we as you work with the same clients or work in the same space longer, you start seeing the same patterns, and it's nice to be able to bring new tools. And I think that's what our clients want, isn't it? It's not just like a space to think, it's also some practical suggestions, sometimes going, here's a new model, here's a framework, here's something that you might try. Yeah. Just like gently offered rather than going you have to use this.

SPEAKER_02 4:49

Yeah, no, it's so true.

SPEAKER_00 4:51

Well different question this week. We talked all about so the the now the question this week from Alex is I'm now post-exit, but what now?

SPEAKER_02 5:03

This is um it's it's often a really bizarre time post-exit. Because either they'll founders will be then working for the company that they've been acquired by, which can be a kind of in in what I've experienced in coaching, I think it can be a slightly misplacing experience. It can feel um often people are dealing with quite complicated emotions of sometimes people feel like actually that's been a failure or not the outcome that they were expecting or not the outcome that they were wanting. Um, and uh sometimes it can be a really exciting time, but then they're like, oh, I've still got to be here for two years, so how am I gonna stay motivated? Um and so I think that can be quite complicated. For founders that are leaving a business, it's often this empty space of uh the question for people in coaching how do I fill my time? Like I'm not I'm not ready to start a co but it doesn't, and sometimes it doesn't come from a place of like excitement of, oh, how do I I get to fill my time? It's often this feeling of like I feel a bit like an um, I feel a bit untethered, I don't know what to do with myself, um, I'm not really sure what my purpose is, I feel exhausted, or I feel um, I was expecting to feel like why when the money hit my account, and actually I feel completely burnt out, a bit depressed, a bit all over the place. Um it just wasn't I wasn't expecting to feel like this. I was expecting to feel elated or excited or like I was really successful and I feel none of that. Um so I think it can be a really complicated time. The and that's very normal. Um and there can also be a sense of grief of like I was associated with this company and this brand, and now I'm no longer that. Um who am I and what's underneath all of this? The first thing I say is I think everyone needs a bit of, you know, in um the film Home Alone, where the kid realizes that the parents aren't there, and then he just does whatever he wants for a day, and he's like jumping on the bed and he's like eating all the sweets and he's in the bathroom wearing all his dad's like um face cream, just like doing all this random stuff. It's like no parents, no rules. I think everyone needs a no parents no rules season if you have the resources to allow you to have a bit of freedom where it's completely unperformative, it's driven totally by what you desire to do or what you're excited to do. So think about like no parents, no rules, go and do stuff that you've wanted to do or but you wouldn't allow yourself. You need permission to. And whether for you that's a trip, whether it's just really simple things like prioritizing time to read or go to the museums you want to go to or um eat junk food and watch Netflix series and binge, whatever it is that for you feels like fun, playtime. I'm doing whatever I want. I think everyone needs a season of that where there's zero expectations and you just get to um recalibrate. Once you're out of kind of recalibration, reset, like physical, mental, spiritual, whatever reset, then the question of what do I want next? I think firstly it's so we we lack initiations or we lack rituals in society that help people transition from kind of one life phase into another. And I think a form of kind of integration of the craziness of what you've just gone through is so important. And whether that's a literal as simple as what did I gain from that experience? So when I look at that chapter, that season of company building, what did I learn? How did I grow? How did I evolve as a leader, as a human? Um, who are the new relationships that are in my life now because of this company? So, in many ways, like a real sense of gratitude and grounding in all of the gains. And then also a sense of what do I want to leave behind in that season? What are the relationships, the ways of behaving, the ways of being that I actually just want to say, you know what, that served me for a chapter, but I I don't want that anymore. And that sense of what do you need to let go of as well as what do you want to bring with you? So a kind of a form of recalibration. And then the exciting part of who are you now? And I love the framework of IkeGuy and asking yourself four questions of what do I love? So, what do I love to do? And you've got to love doing it while you're doing it, not sort of romanticize activities or um, but while you're doing it, what do you love doing? And that can be absolutely anything. What do you think you're really good at? So, like an inventory of your skills and your intelligences, and then starting to hone into what am I uniquely good at? And um, what problems in the world do I care about? So, what are the things that I'd like to solve, and then what can I be paid for? And starting to look at what are the things at the intersection of those four questions to start to move yourself towards something that would be sustainably fulfilling, and then starting to have conversations with different people around it. And I think about increasing your surface area for serendipity. So the more aligned you are and the braver you are with the actions you're taking, the more kind of novel or unique or interesting opportunities emerge. So, yeah, taking a step back, I'd see it in like a couple of chapters of like home alone, no parents, no rules, like refill your cup freedom season, and then a sense of kind of calibrating, recalibrating on the chapter, and then thinking about what's next.

SPEAKER_00 10:00

I think what's nice there is this idea of being a bit deliberate about it. I think my experience is people can be quite reactive. It's kind of they sell the business, there's a void, they gravitate towards the first big thing that comes up, whether it's a new business idea or a partnership or a whatever it is, it's it's quite reactive. Um, and I really like this idea of like sort of no parents, no rules, just because it's a it's an exhausting process. I mean, it's probably been a three to six month process to get there with a whole lot of emotional roller coasters. By the time that check does hit the bank, you are tired, you are done, you are like in no real position to feel any emotion other than just I want to sleep. Yeah. And so actually having a period just to recharge is quite attractive. You see it to a smaller extent, I think, during fundraisers where it's kind of Yeah, the come down afterwards. The come down afterwards, like oh I've pushed so hard for this thing. But then I think it's nice to that sort of check out of the same thing with clients after fundraising. It's like, okay, last stage, next stage, what suits us, what doesn't. But this this very then this very deliberate, like like the Ikay model as well, the sort of the okay, what does success look like in this next phase? It's probably gonna look different. Um but if you're just trying to chase chase the last rainbow, that's probably not gonna lead to satisfaction. The other thing I've experienced is this could I can I do it again? There's actually quite a lot of self-doubt I've experienced with founders in that stage because they've built a successful business, they've got that big thing on the resume, it's sort of the the football manager thing of don't risk your legacy, don't never go back. Asking like, oh, if I if I try this again and it doesn't work, does this prove the first time was a fluke and actually I'm not that good? So there's actually can be quite a lot of fear sitting underneath 100% as well.

SPEAKER_02 11:53

And when you're making decisions from fear, it's it it doesn't encourage risk taking, it doesn't encourage growth, it doesn't encourage kind of brave, unique value creation. And I think what's really incredible, especially if you have uh some form of meaningful exit, is you then have you're resourced in a way that allows you to play more bravely because you don't have to convince other people of the vision that you if you decide to build again. You can actually do something that is more aligned, more interesting to you. Um and I often hear from even in founder, they're like, Well, I wouldn't build this business again. It's actually quite boring, or like I actually don't care about it that much, but it made sense mentally, or there was a market for it, and therefore I decided to lean in. And the next time around, you you get to be much more intentional, especially when you have more resources around what you choose to do, what value you want to create, like the problems you want to really solve in the world, not just make sense intellectually. And I think there's something really exciting about that, is you have more space to play. But if you're if when you feel scared of external factors like how's this going to impact my reputation, are people gonna still think I'm relevant and interesting? Um, does this mean that that would yeah, exactly? Do you say, was that just a fluke or am I actually really good? Um, that inhibits your creativity so much, and so it actually inhibits your bravery, which it's no fun.

SPEAKER_00 13:12

No. So we're just saying be McCaulay Calkin every every stage of this process.

SPEAKER_02 13:17

Yeah, exactly. So just playtime forever.

SPEAKER_00 13:20

Yeah. Creativity, actually, just leaning into a creativity and your child, some child is actually can lead to really high performance, like letting go of that fear, and like if you're enjoying it, that's actually a good thing. That's that's not you not taking it seriously, that's actually you operating at a higher plane, getting better sort of more creative outcomes. Because I think the game changes. Like you go back when you started your last business, that might have been five years ago, ten years ago, three, like it is at a past, and if you think of the rate of change now, the game is similar in that what you might want to fundraise again, you might want to get some exit, you might want to borrow a team. So th they're elements the same. But now you're like, okay, well, AI, what's the opportunities with a new thing? Like geographically, what's the opportunities? Geopolit geopolitically it's all changed, like what are the what are the services? Like so the whole board's changed.

SPEAKER_02 14:15

Yeah, and all of your internal your internal priorities often change as well. And often it's not always true, but often the older you get, the more that um there's often more or other priorities in your life, and so maybe you're thinking more, maybe I do want a family, or maybe I do want a long-term relationship, or maybe I actually want to live somewhere. Like sometimes more personal priorities start to come in in a way that earlier days, or if you're building in your early 20s when it w it got 90 to 100% of your waking hours, your your priorities can shift too, and therefore the kind of that can be mirrored in the kind of business you want to create or um how you want to invest your time and and the role you want to play.

SPEAKER_00 14:55

And I suppose that goes back to the intentionality of going, can you dig those things out? So like have fun, go play, but then do spend some time, like not only think about the business idea, but also what success looks like to you totally personally.

SPEAKER_02 15:07

Yeah.

SPEAKER_00 15:07

Like how much time do you do you want to spend on it?

SPEAKER_02 15:10

100%. And sometimes I'll also see a shift of the first business is more like me proving to myself that I can do it, and then the next business is the problems in the world I genuinely want to solve, and I feel brave enough to go after them because I feel like I've proved that I can do it. And so now I kind of let go of external perception and actually lean into what I perceive to be genuinely valuable, not um so it's less it can be less ego-driven.

SPEAKER_00 15:35

I'm still I'm still I st my still take on this as being my recordy cultural.

SPEAKER_02 15:38

Honestly, frankly, yeah, all of us. All of us.

SPEAKER_00 15:42

Well, thanks for listening. Um we will see you again next Monday. Um, hit subscribe and uh see you in a week's time.