Selling Your IT Business: Thriving in the Second Half of Your Life
As M&A professionals, we work with owners of IT services businesses who are contemplating the sale of their company. These owners come from all walks of life, but all have one thing in common: they are at a crossroads.
On one hand, they’re rightfully proud of what they built. Many have created successful businesses that employ incredible people and provide valuable services. Most are financially secure, and they have the freedom to do whatever they want with their time. On the other hand, they’re also feeling the effects of age. Many are tired or bored, or simply ready for change.
Almost all think about what they’ll do next.
If you are contemplating a sale, consider reading "From Strength to Strength" by Arthur C. Brooks. The author’s research demonstrates the second half of life is a time for great opportunity and fulfillment. He writes "the next chapter is a time to leverage your strengths, find new purpose, and make a real difference in this world."
Brooks provides numerous insights that can be transformative to IT services business owners considering the sale of their business. Based on extensive research, he points out the second half is a time to leverage a lifetime of knowledge and experience. This is an asset as we age, and it can (and should) be used to create new opportunities and give back to the next generation.
The book points out the second half of life is a time when we are more likely to be motivated by purpose than money. This means if you are selling your IT services business, you should think about what you want to do with your life and business experiences. What are your passions? What do you want to still achieve? Once you identify that roadmap, you can start looking for opportunities to leverage these strengths and experience to ensure a more fulfilling future.
If this means slowing down and balancing ways to give back at a different pace, great. Conversely, if this means shedding the life of grinding through customer demands and delivery issues so you can mentor, advise or teach, then the time to sell is now.
Read the highlights and conclusion at Selling Your IT Business: Thriving in the Second Half of your Life | LinkedIn.