Ever wonder what seasoned experts would do differently if they could turn back time?
In 2005, at 48, I found myself at a crossroads. My firm, which I had been running for nearly a decade, was thriving. We were profitable and well-organised, a far cry from where we started. Nevertheless, I just couldn’t see myself doing the same thing for another 10-plus years. I set myself a goal to be out of the business by age 50 – young enough to embark on a new career.
After consulting a career advisor, I was surprised to learn that their assessments and personality tests suggested a pivot into training (would you believe it!).
Inspired by this, I began the process of selling my stake in the business. By my 50th birthday, I had reduced my ownership to 25%, allowing my younger successor the time she needed to acquire the remaining shares.
Looking back, I’m very happy with the decision to sell down (and then out) of the business. I also love being a business coach. The one thing that I learnt out of this period of my life, however, was that I assumed that my only pathway to “changing things up” was to fully exit the business.
It turns out I could have pursued a range of other options that would have resulted in a greater variety in my working life whilst still retaining a significant interest in a growing, profitable business.
In retrospect, what was missing was a sounding board to help me explore these alternatives. It would have been great if Slipstream had been around in 2006.
NEXT STEPS: HOW SLIPSTREAM CAN HELP
Phil Little, BUSINESS COACH
Phil is blessed with the ability to quickly assess a business situation, determine a range of appropriate initiatives and convey profound insights to the practitioners he works with. He has a friendly, engaging style when interacting with his clients, who often remark upon being inspired to take action as a result of their coaching sessions. Such sessions are typically peppered with examples, anecdotes and Phil’s captivating good humour.