#793 The Unexpected Downsides of Selling Your Business
Tropical MBA: Entrepreneurship & Founder Lifestyle
Dan Andrews; Ian Schoen
4.9 • 527 Ratings
🗓️ 6 February 2025
⏱️ 19 minutes
🧾️ Download transcript
Summary
Why do so many founders feel sad, lost, and even depressed when they come into life-changing money from exiting their business?
Dan contemplates why this happens and how to avoid it.
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Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
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Transcript
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| 0:00.0 | You're this really successful person now, and now you've got to go out and be an idiot again. |
| 0:05.5 | You've got to fail at stuff. |
| 0:07.3 | And that can be paralyzing. |
| 0:23.4 | Happy Thursday morning, everybody. |
| 0:25.5 | Welcome back to the Tropical NBA podcast. |
| 0:27.7 | Today is an exciting one because I get to talk my book. |
| 0:30.7 | Literally, I wrote this book some years ago before the exit. |
| 0:32.5 | If you email me, I'll send you a free copy. |
| 0:33.6 | Still holds up. |
| 0:36.4 | AI hasn't made it irrelevant just yet. |
| 0:40.1 | And I want to talk about this interesting dynamic where when founders get a lot of money for their businesses, they are often deeply disappointed by this |
| 0:46.2 | situation. Sort of strange. And I want to talk around the big pile of money issue as well as the |
| 0:53.5 | P issue, purpose issue. |
| 0:56.5 | And it's kind of hard to talk about, but I think a lot of us undervalue purpose. |
| 1:03.3 | And perhaps there's something we can learn here and run better businesses in the process. |
| 1:09.0 | So let's sorb into this post I found from Matt Paulson, |
| 1:12.7 | who's a fantastic entrepreneur, been on the show before, and he shared this on X. |
| 1:16.7 | There's a gentleman named Jake who posted to Reddit some years ago about the experience |
| 1:22.1 | of selling his company MVMT, which is a fashion watch brand. I'll just read you part of the post here. He said, I sold my company for millions and I'm more lost than ever. Okay, so I sold my company MVMT a few years ago for a lot of money. He's talking about an eight figure fortune and thought all my problems would be solved. I made my life really cushy and comfortable. I optimized for being as stress-free as possible. I play video games when I want. I wake up when I want and I have no reason to get out of bed if I don't need to. I've always thought this was the dream and that I'd be happy forever until I wasn't. I'm in an incredibly unique situation and wanted to share some things I've learned and I'm still working through. He goes on to share a lot of really deeply personal things that he's socially awkward, |
| 2:05.2 | that he built MVMT just for the money, that he had an unhealthy relationship with himself |
| 2:10.8 | and his values in life. |
| 2:12.8 | My money and ego were the driving forces. |
... |
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