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Fortune
Fortune
Mark Jansen

Morgan Stanley on life after selling your business: a roadmap for entrepreneurs

mj (Credit: courtesy of Morgan Stanley)

Advisors who work with entrepreneurs often hear the same surprise after a sale: I didn’t expect this part to be so hard. The numbers may have come together exactly as planned, but the emotional aftermath rarely does. Former owners describe waking up without a calendar full of meetings, realizing that relationships once defined by shared work are suddenly distant, and confronting a question that never appeared in the deal documents: What now?

This reaction is not an anomaly—it is a pattern. According to the Exit Planning Institute, 73% of business owners expect to exit their companies within the next 10 years.1 Yet many spend far more time optimizing valuation and tax outcomes than preparing for the personal, social and psychological consequences of no longer being “the founder.” A successful exit changes more than a balance sheet. It dismantles a structure that may have organized daily life for decades.

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