Steven Bartlett, founder of Social Chain and host of Diary of a CEO, shares unexpected advice … (+)
Imagine this: you have just sold your business. The hustle, sleepless nights and relentless driving paid off. You are financially free. Stop worrying about pay or chasing the next big deal. Yet, in the midst of this newfound success, you ask yourself a question you never thought you would ask: What should I do now? Like any outgoing entrepreneur, you need good advice after selling a business.
This is exactly where Steven Bartlett found himself after leaving his company. What followed wasn’t a business plan, a new investment, or even a vacation. It was a simple piece of advice from a mentor that changed everything.
The best advice after selling a business
Steven Bartlett, founder of Social Chain and host of Diary of a CEOrecounts how his mentor and friend, Shakil Khan, gave him advice that was as unexpected as it was transformative. Shakil, an early investor in Spotify and a seasoned entrepreneur, stopped short of suggesting taking on the next big thing. Instead, he urged Steven to do something profoundly difficult: nothing.
“The reason you did it was because you were hungry,” Shak told him. “We have to realize that we are no longer hungry for the same reasons.”
Steven’s instinct was to jump headfirst into another adventure. But Shakil’s advice was clear: spend a year doing nothing. No new businesses. No new businesses. Just time to reflect, recharge your batteries and rediscover what really inspires you.
Additional resource: Beyond Sales: Navigating Life After Leaving Your Company
Why doing nothing is so difficult and so powerful
For high achievers like Steven, the idea of taking a step back seems counterintuitive. The same motivation that drives someone to build a multi-million dollar business often makes them uncomfortable with quiet. But Shakil’s advice was not to remain inactive. In fact, it was about recalibration.
Steven’s success had been fueled by hunger: the motivation of an “insecure kid” struggling to survive. Once financial freedom was achieved, that hunger needed a new source. Shakil’s wisdom was recognizing that jumping into another endeavor without this recalibration could lead to burnout or, even worse, mediocrity.
Additional resource: How to Avoid Depression After Selling a Business
“The hardest thing I ever did in my life was doing nothing,” Steven admits. But in this space of calm, he found something priceless: clarity.
Finding Your Moonshot After Selling a Business
After months of reflection, Steven’s path forward became clear. Shakil’s second piece of advice was just as impactful as the first: “You have to take a chance. »
A moonshot is not just a new project; it’s a goal so big, so audacious, that it reignites your passion and forces you to go beyond your current limits. For Steven, this meant identifying a challenge that was sufficiently terrifying and exhilarating; something that would make him hungry again.
How this advice applies to you
Whether you’ve sold your business, reached a major milestone, or simply feel stuck, the lessons from Steven’s story are universal. Here’s how you can apply them:
1. Take time to think
If you’re used to constant hustle and bustle, calm can feel like failure. But taking the time to take a break is essential. Reflection allows you to:
- Reevaluate your goals.
- Identify what really inspires you.
- Avoid rushing into something that doesn’t align with your values.
2. Redefine your hunger
The motivation that fueled your past success might not work for your next chapter. And that’s okay. Success is about evolving your “why” as your circumstances change.
Action Step: Write down your new definition of success. What are you passionate about now? What scares you (in a good way)?
3. Find your Moonshot
A moonshot isn’t just a great goal; it’s a goal that challenges you to think differently and take bold risks. It’s the kind of challenge that reignites your fire.
Action Step: Think of three big, audacious goals that excite and terrify you. Then choose one to pursue.
Additional resource: What is your Moonshot? by Sanei, John
The courage to sit still and do nothing
Steven’s story is a powerful reminder that sometimes the best thing to do is not to move at all. By resisting the urge to embark on another adventure, he gave himself the space to discover what really mattered. And in doing so, he set the stage for his next great adventure; one fueled by passion, purpose and a renewed hunger.
So if you’re at a crossroads, take inspiration from Steven Bartlett’s playbook. Be brave enough to sit still. And when you’re ready, shoot for the moon.
Additional resource: How to Help Your Team Thrive After You Leave
Your next step after selling your business
The best advice after selling a business is to do nothing. Take time to think. Your next big breakthrough might just come from having the courage to take a break.