Sold first company-- now stuck in action paralysis

[Rcaraway1989]

I've just sold my first company (for a small amount, definitely not retiring any time soon) and even before then I've been stuck in decision paralysis.

I feel so unlike myself -- usually one to jump into something head first and figure out the details as I go but lately I have been making big plans but failing to follow through with any action.

I learned a lot from my first minor success (and the many failures before that) and feel like I'm a good enough entrepreneur to take on some much bigger ideas but I'm finding it hard to find the intrinsic motivation to act on my plans -- I get all excited about making plans but when it comes time I back away from going out and talking to potential customers.

Maybe I just need some time off. Maybe I've grown weary too weary of failure, or maybe I'm not being patient enough with myself (success takes time even for the experienced).

Has anyone who's normally pretty action driven felt stuck in action limbo?

 

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[JonnyC]

I've just sold my first company (for a small amount, definitely not retiring any time soon) and even before then I've been stuck in decision paralysis.

I feel so unlike myself -- usually one to jump into something head first and figure out the details as I go but lately I have been making big plans but failing to follow through with any action.

I learned a lot from my first minor success (and the many failures before that) and feel like I'm a good enough entrepreneur to take on some much bigger ideas but I'm finding it hard to find the intrinsic motivation to act on my plans -- I get all excited about making plans but when it comes time I back away from going out and talking to potential customers.

Maybe I just need some time off. Maybe I've grown weary too weary of failure, or maybe I'm not being patient enough with myself (success takes time even for the experienced).

Has anyone who's normally pretty action driven felt stuck in action limbo?

YES. Absolutely.

First off, congrats on your success! It's great that you sold your business, despite it not being a retirement sum it's still an achievement that 99% of people will never reach.

I haven't sold my company yet but things are growing well. Here's my two cents.

Two things hit me recently:

1. Burnout: I felt like shit all the time, I wasn't taking care of myself, stopped working out, was stressed 24/7, poor sleep, etc. I took 5 days half-off, as in I only responded to emails and did light work for a few hours a day. I went to a lakehouse with my family. I drank beer. I tanned. I kayaked. It was glorious. First vacation in 3 years and man was it worth it. I can't tell if you're suffering from burnout, but just because you think you need time off, it's probably a good idea to take some. Go somewhere nice, and since you've sold your company, just take the time 100% off, GUILT-FREE. Disconnect completely and be around people you love, doing things you enjoy.
2. Boredom/disctraction: I'm kind of getting bored of the idea of the company I'm working on right now, but I'm getting excited about another idea. It's one of those big ideas that you know would take a shitload of work, but it's such a cool, interesting idea that I'd be curious to see if it could be built. It would either crash and burn or grow very very fast. I think this is related to the originality of your idea, the difficulty of what you're trying to achieve. Maybe there's a correlation between your desire to act and how interested you are in an idea. Maybe you're suffering from this. Maybe it's just burnout. In your shoes, I'd think big. Like really really big. Screw the 5 year exit plan, I'd be thinking like the 20+ year legacy business (if you do want to work a really long time)

So yeah, from what limited info I have, and the narrow scope of my own experience, I'd say it could be burnout and/or boredom. I would try taking some time off and thinking up the craziest ideas you can. Take some old-school businesses and think how they'd look combined with some new school methods, processes, or technology. Check out James Altucher's take on how to become an idea machine.

Good luck man!

 

[Rcaraway1989]

Maybe there's a correlation between your desire to act and how interested you are in an idea. Maybe you're suffering from this

I've taken lots of time to go on vacation -- got back from Boulder CO recently, was in New Orleans hanging with family, heading to New York soon .

But what you said here feels way closer to my struggle. I feel genuinely disinterested in mostly every pursuit I've conjured up lately after the initial boost of motivation. Feels like maybe I need to take a break and just learn some new skills. Work on myself hard. Ever feel that way?

 

[devine]

When I sold my first project, even before we finished, I already appointed a one-on-one skype call with a person I wanted to learn from.

 

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[GuestUser450]

Has anyone who's normally pretty action driven felt stuck in action limbo?

After an exit, it's not a bad thing. You're right to take a break and work on you, your relationships, your life.

You're not stuck, maybe just restless because you've gone from 100 mph to 0. It's a luxury to be patient and pick your next move. Congrats.

 

[jesset17]

I've taken lots of time to go on vacation -- got back from Boulder CO recently, was in New Orleans hanging with family, heading to New York soon .

Vacations have always helped refocus and energize me for when I got back to work. But what works even better is going camping or spending time out in the wilderness. Having no access to phone, internet, or anything connected to the rest of the world helps me clear my mind more than just a vacation to another civilized city. When you aren't able to have the option to view emails, look into ideas, or have any other outside distractions, your brain is actually given the chance to deeply contemplate life, issues, goals, etc.

 

[Rincewind]

Has anyone who's normally pretty action driven felt stuck in action limbo?

I've been in exactly the same position about one year ago. I worked on that company three years and then sold it for little money. In my case the company wasn't growing and I didn't see the potential, so despite my success of building and selling a company I felt like a failure.

I took some time off and then started my consulting/freelance gigs just to get money in to get the bills payed. Since then I started many half-hearted projects and couldn't commit to any project as I did with the sold one.

Now, one year later I commited to two things:

1. I have a new project that I work on. It's much smaller than the first one, so I will see success or failure much earlier
2. I will talk to many more persons and become a better marketeer of my stuff. For the first company I got a co-founder who was part of the problem.

What should you do? Take your time to learn as much from your experience as you can. I still learn things about my mistakes one year later.

And when you choose your next project, don't overcomplicate stuff. I ran into the "everything must be perfect and I want to be 100% sure" trap the last months again and again. Try to avoid most of your errors from the first project, but accept that you will not get to 100% error-free in one step.

 

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[100k]

Can we be nosy and ask how much you sold it for ?

 

[HyperFocus]

I've just sold my first company (for a small amount, definitely not retiring any time soon) and even before then I've been stuck in decision paralysis.

I feel so unlike myself -- usually one to jump into something head first and figure out the details as I go but lately I have been making big plans but failing to follow through with any action.

I learned a lot from my first minor success (and the many failures before that) and feel like I'm a good enough entrepreneur to take on some much bigger ideas but I'm finding it hard to find the intrinsic motivation to act on my plans -- I get all excited about making plans but when it comes time I back away from going out and talking to potential customers.

Maybe I just need some time off. Maybe I've grown weary too weary of failure, or maybe I'm not being patient enough with myself (success takes time even for the experienced).

Has anyone who's normally pretty action driven felt stuck in action limbo?

Yes man, Im in the same situation. After making loads of money last year and now dont need to work anymore I went traveling the globe then I stopped traveling to start a new company. Now that everything is built, product is done, brand is done, good feedback from the market etc I am not putting in any effort.. Now that the planning and creation part is done Im not motivated to make any money.... I also started writing a book and stopped after 2 chapters. Im not sure if its a good or bad thing, I get bored quickly, maybe you too?

 

[Raoul Duke]

Can we be nosy and ask how much you sold it for ?

About tree fiddy.

 

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[JonnyC]

About tree fiddy.

 

[Vigilante]

Can we be nosy and ask how much you sold it for ?

What difference does that make to you

 

[Harti]

Yes man, Im in the same situation. After making loads of money last year and now dont need to work anymore I went traveling the globe then I stopped traveling to start a new company. Now that everything is built, product is done, brand is done, good feedback from the market etc I am not putting in any effort.. Now that the planning and creation part is done Im not motivated to make any money.... I also started writing a book and stopped after 2 chapters. Im not sure if its a good or bad thing, I get bored quickly, maybe you too?

How about finding a good CEO who's willing to put in effort under your guidance?

 

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