Selling or exiting a marketing agency is a significant milestone that often marks the culmination of years of hard work, dedication, and passion. However, life post-exit offers a new beginning and a plethora of opportunities for agency owners. Whether it’s pursuing new ventures, dedicating time to personal interests, or giving back to the community, the post-exit phase can be as fulfilling and dynamic as running the agency itself. Here are some options for agency owners to consider as they embark on their next chapter post-exit.
Start Another Venture
Many entrepreneurs find that the thrill of building a business from the ground up is too enticing to do just once. Post-exit, with a wealth of experience and potentially significant financial resources from the sale, starting a new venture can be an appealing option. This could be within the marketing industry, leveraging existing expertise, or in a completely new field that presents exciting challenges and opportunities.
Become an Angel Investor or Venture Capitalist
Having successfully built and exited an agency, former owners often possess a keen eye for identifying promising startups. Investing in startups, either as an angel investor or by joining a venture capital firm, allows them to support emerging entrepreneurs. This path not only provides the opportunity to share valuable insights and mentorship but also to stay connected to the innovation ecosystem.
Consultancy and Advisory Roles
Leveraging the knowledge and experience gained from running a successful agency, former owners can offer their services as consultants or advisors. Many businesses, especially startups and SMEs, can benefit from the strategic insights of someone who has navigated the complexities of building and scaling an agency. This option allows for flexibility in terms of workload and engagement, fitting well with those seeking a balance between work and personal life post-exit.
Focus on Personal Development
Exiting an agency can also be a time for personal reflection and development. This could involve pursuing hobbies or interests that were sidelined due to the demands of running a business, traveling, or going back to school. The post-exit phase offers a unique opportunity to explore passions outside of the professional realm, contributing to personal growth and fulfillment.
Philanthropy and Social Impact
For many, the post-exit period is an opportunity to give back. This can take many forms, from setting up a charitable foundation, supporting existing non-profits, or getting involved in social entrepreneurship. Engaging in philanthropy or social impact initiatives can be incredibly rewarding, allowing former agency owners to use their skills, resources, and networks to make a difference in the world.
Board Membership
Joining the board of directors of other companies or non-profit organizations is another path for agency owners post-exit. Board membership allows individuals to contribute their expertise and insights at a strategic level, influencing the direction and success of these organizations. It also provides a way to stay active in the business community and continue professional growth without the day-to-day responsibilities of executive roles.
Take a Sabbatical
Finally, after the intense journey of building and exiting a business, taking some time off is always an option. A sabbatical allows for rest, rejuvenation, and the space to contemplate the next steps. Whether it’s spending time with family, traveling, or simply taking a break from the professional world, a sabbatical can provide valuable perspective and energy for future endeavors.
Conclusion
Exiting an agency opens up a new chapter full of possibilities. Whether continuing in the entrepreneurial vein, dedicating time to personal interests, or giving back to the community, there are numerous paths to explore. The key is to choose options that align with personal goals, values, and the lifestyle that agency owners wish to lead post-exit. This period can be a time of significant personal and professional growth, marking the beginning of an exciting new adventure.
