How Do You Best Learn What Is Your Learning Style Selling Your Business and Building New Skills For Your New Future

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Selling Your Business and Building New Skills For Your New Future

As a business owner looking to sell a business, you may be concerned about what to do after it is sold. What is the value of you after the business is gone? Used to being an expert and in charge, you may be disoriented.

If you are planning to remain engaged in the market – whether through a new business venture, a board placement or a philanthropic pursuit – how do you make sure you are valuable? You certainly don’t want to become an out of date advisor stuck in ‘the good old days.’ How can you build the new skills you need, and keep the ones you have up to date? Consider the classic questions: where you are today, where you want to be tomorrow and how do you get there.

Where am I today?

Think about what you known for now. Chances are it is about your company and industry. Is this something that will be continued to be valued over time? Do you want to keep those skills up to date, or are you ready for something new?

Do you need to look at it differently? For example, while you may be an expert in your business, you may also be an expert in leadership, problem analysis, decision making, trend spotting and or mentoring. Perhaps those are where your passions are and should continue to develop after the business is sold.

Where do you want to be tomorrow?

The second of our three questions is forward looking. Consider what you want your life to be like after the business is sold. What skills will you need to be successful in this new life?

Think strategically. Build a plan for your resume to be different next year than it is now. What should you be learning? Lily Thomlin once said: “I always wanted to be somebody. I should have been more specific.” And so, too, should you, especially at this critical juncture of your life.

How do I get there?

Find out the way that you learn best, and adapt your learning strategies to it. One recommendation is to first assess your learning style. Howard Gardner, for example, has categorized different learning styles, and on-line self assessment quizzes can be easily found on the internet.

Through them you can determine if, for example, you are a visual learner or an audio one. Understand your strengths and go with it. If learning hasn’t been fun in the past for you, it may have been a learning style issue. Knowing how to work with yourself instead of against may just change everything.

Peers and mentors can be sources to help you plan your changes. We lead forums for business owners selling their businesses. We work with clients to create strategic advisory boards and peer advisory boards to establish open feedback and mentoring. Do you have such honest mentoring and support?

Learn with a global perspective. Travel if at all possible. Be aware of what is going on in the world and how it impacts you and the future you are creating. You can have your favorite magazine delivered in another language. You can sign up for e-newsletters from around the world. You can also set up a keyword-based email news feed on any topic from Google Alerts for free. Actively pursue information and ideas that are outside of your country.

Because of our work with clients on building business in China, for example, we regularly collect and send research to our clients that they would find of interest. Is there a topic of intense interest you should aggressively target to learn?

Create Your Own Future

Selling a business is a once in a lifetime experience to design a new future. Be sure your exit plan is both professional and personal and keeps you engaged in the world in a way that you find exciting and rewarding.

I invite you to use these ideas during your journey to sell a business.

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