While few business owners will admit this in public, most are uncomfortable --if not downright stressed out -- with the dual challenge of turning their business over to someone else AND facing the looming prospect of 20+ years of …who knows what? It’s scary to think about what’s next!
Retirement is coveted
Our society revels in the idea of retirement. We look longingly at those who have earned the right to live free of expectations, demands, the stress of the day to day business responsibilities. In reality, for most business owners, the shock of moving from a full-time business leader to a life of … well … uncertainty, is very unsettling. But it’s hard to get much sympathy for that as you talk to friends, neighbors, business colleagues, or those you volunteer with.
It doesn’t have to be that way, and leading edge boomers are starting to change that for those who follow. A few brave business owners are beginning to talk about the challenge of letting go of the business and looking ahead to what might be meaningful and rewarding in the next stage of life. They are beginning to open up and admit to the fear and uncertainty, and they are finding they are far from alone.
Health Risks Abound
The unspoken, and in many cases, unrecognized stress and uncertainty of the transition to retirement can lead to health issues, alcoholism, obesity and depression. Health issues typically increase anyway as we age, but those who have defined and created a meaningful and rewarding ‘what’s next’ actually see an improvement in their vitality. This post-ownership phase can be one of the most rewarding times in an owner’s life.
So how do identify your meaningful and rewarding what’s next? Our process centers on three areas:
- Your Strengths. Leaders often take their strengths for granted and assume everyone is good at those same things. Your wisdom built over years of leveraging strengths enable you to make a big contribution with less effort. And life is much more fun!
- Your Passion. This provides the meaning, motivation and often the corresponding commitment. Many complain it’s a struggle to identify their passion, but with some focused reflection, we have been successful bringing it to light. Leveraging that passion is an internal energy driver that can ignite others around you. Your passion is contagious.
- Your Lifestyle Priorities. A new stage in life means a new opportunity and -- in most cases, a requirement -- to change your life patterns. Whether you want to sleep until 7:00am, take summers at your beach house, or start a serious gym routine, identifying these priorities at this stage in life can round out your meaningful "what’s next".
Why not begin planning your meaningful and rewarding "What’s Next?"