E264: Scared of Life After Selling Your Business? The N.E.X.T. Framework Will Change Everything

How2Exit: Buy, Don't Build - M&A of Small Businesses

Watch Here: https://youtu.be/pnMxKKPCBQM
About the Guest(s):
Jerome Myers is a dynamic leader and the founder of Exit to Excellence, a consultancy focused on helping business owners transition from their companies with both confidence and a sense of purpose. Previously, Jerome built a successful $20 million division for a Fortune 550 company. Post-corporate life, he ventured into real estate, significantly impacting the market through apartment syndications. Jerome now dedicates his time to coaching and consulting entrepreneurs, ensuring they find fulfillment and significance beyond monetary gains from selling their businesses. His expertise in helping business founders navigate exits aligns deeply with his personal experiences of transformation.
Summary:
Ronald Skelton welcomes back Jerome Myers, founder of Exit to Excellence, to discuss the intricacies of business exits and the emotional journey that follows. They dive into the concept of the Founders Exit Paradox and the importance of having a clear vision post-exit to avoid feelings of emptiness and depression. Jerome introduces the NEXT framework—nourish, evaluate, explore, transcend—to guide entrepreneurs toward a fulfilling new phase. They also address the significance of relationships and how to plan effectively for life beyond business, ensuring a purpose-driven transition.
Key Takeaways:

• Business exits can lead to emotional challenges like the "Founder's Exit Paradox," where monetary gain may quickly be overshadowed by feelings of emptiness.
• Jerome Myers developed the N.E.X.T. framework—Nourish, Evaluate, Explore, Transcend—to guide founders in planning purposeful transitions beyond business exits.
• Relationships significantly change post-exit; building a supportive network outside of work is essential to mitigating feelings of loneliness.
• Proper succession planning and self-reflection on skills and goals can prepare entrepreneurs for a fulfilling life after exiting their businesses.
• Understanding and navigating the six centers of doubt: self-image, relationships, work, health, prosperity, and significance, can facilitate a meaningful and successful exit journey.

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Contact Jerome on
Linkedin: https://www.linkedin.com/in/jeromemyers/
Website: http://www.theexitparadox.com/book
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