Just over a month ago, we sold WeHero to WizeHive, a software platform backed by LLR Partners. I wanted to share a few thoughts from the last month.
When you're an entrepreneur "eating what you kill," you move fast. It's one of the best ways to outcompete larger companies and it is a core tenant of WeHero's culture. While we're largely operating as a stand-alone business, the thesis is that we can build a platform of integrated offerings for the customer. Since we closed 30 days ago, we've started the planning process for these initiatives, but haven't taken any meaningful action. This slower pace is interesting to observe and a good reminder that all companies work differently. I've already seen ways in which a slower pace may serve the business better.
As I notice the pace difference, it's been challenging to get myself to slow-down. While I'm highly incentivized in the success of the platform, is there a reason I need to be responding to emails at night or early in the morning? Should I be slowing down more myself?
Selling a business is over romanticized. Sure, if you sell a business for CRAZY money, your life dramatically changes. However, for people in my situation with a great exit, but not f*ck you money, not much changes. The day after we sold, I got out of bed at the same time I normally would and sat back down at my computer to keep working. Sure, I got a handful of text messages from close friends, but thankfully, the world hasn't started treating me differently.
What I've realized is that selling hasn't provided me any direct happiness. The most fun I had was in the thick of building. When you have an idea you want to pursue, a new customer request, new branding to review. That's when I'm having the most fun. Turning an idea into reality is what should be romanticized.
The challenge to a life filled with turning ideas into reality is that it's far more financially lucrative to take a pre-existing steady business and grow it over the course of 3-7 years before selling it. While this is something I'll explore, I need to do some soul searching on if I'll actually enjoy it. I can see a world in which I partner with strong operators and I'm only involved in the parts that are fun to me.
In a classic form of escapism, I've been thinking about how I could just move to the beach in Costa Rica, surf every day, and spend my life building different businesses online. There'd be no pressure for financial success given the cost of living and I'd be happier. This idea resonated with 80k+ views on twitter - maybe we could start a community of expats on the beach? Who is in?
I’ve started a 6+ business over the past few years. Not all my businesses will work, but I always invest upfront in having the right structure.