It’s in a slightly different – though connected – industry, with different customers and products.
When you spend years building a company, your identity becomes tied up with it. So as I move into my new role, I’m actively thinking about how I change that identity, and going through a process of reinvention and transformation.
It’s a bit like shedding an old skin and getting comfortable in a new one.
It’s really important to approach a new venture with an open mind. That’s harder than it sounds. If you’ve done something one way – and it’s worked – there is a very human tendency to close your mind to new possibilities, to assume the same things will work again. A new venture might work totally differently. In my case, I’m moving from a mostly people-based business to a mostly software-based business with services attached, so it’s a very different approach.
I’m lucky that this is partly what excites me about a new role and a new business. I love the idea of new possibilities and ways of doing things. I’m reading and learning and absorbing new information. I have a new purpose and feel as driven as I did when I started my first company all those years ago.
There are a few things I’ve learned in the last couple of months if you’re moving from one working identity to another.
Prepare for a period of limbo
There is inevitably a period post-sale when you are in limbo, working out who you are in this new world. Embrace it and don’t jump too quickly into something new.
Allow some time for reflection
This is a time to reflect: what is the real value and skill that you bring to the new venture that is unique to you? That can be incredibly exciting, and a time of self-discovery. There may be things you take for granted that someone else values highly.
Work out what motivates you
When you sell a business, your motivation changes. You may not have the same hunger for financial reward, for example. So you need to find your new purpose, your hunger. What motivates and drives you? And equally, what do you never want to do again, that you had to do before?
Prepare for change and letting go
There will be some things you’re used to doing that will change as they may no longer help your new purpose and identity. I can already feel the networks and ecosystem that supported me changing as my focus shifts, and interests diverge on both sides.
As one thing ends, another begins. There are new opportunities, networks, events and endless possibilities. The trick, for me at least, is to approach them all with fresh eyes.
