A Message From Our President - Life Beyond Your Business | NAWBO

Have you ever wondered what life could look like once you leave your business? Have you always wanted to travel? Or would you prefer to settle down in a quiet spot in the mountains or on the shore?

Business owners often become so consumed by their work that they don’t think about what comes next. As we age, it becomes more important to prioritize our families, our hobbies and our interests. It actually took me a few years working long hours, day after day before I asked myself that critical question.

Did I want to sell my business? Leave it for my children to inherit? Should I grow it enough for it to be eventually acquired?

I felt lucky when my friend connected me with a financial planner after I eventually started to question how I wanted to move on after owning a business. I discussed my options for retirement with my financial planner; we talked about having a portfolio that would be worth selling and we made sure I had an exit strategy in case of an emergency. Through this planning stage, I just wanted to keep my family safe. I didn’t want them to have to make any tough decisions I could have prevented.

I am excited to inform you that I’ll be removing myself from my business over the course of five years so that I can gradually slow down my pace of living and start spending more time with those close to me.

Whatever stage you are at in your business, you should know that making decisions like these are important and relevant, even if you’re just starting out. We don’t think about it enough! I have unfortunately seen disaster scenarios happen with colleagues who were not prepared for life after their business.

Before I go, I just wanted to extend my thoughts and prayers to all those in Ukraine. May we all hope for peace and safety for our friends across the ocean.

Please get outside and enjoy this incredible Spring weather. I hope you can take some time to bask in the sun and take advantage of the ever-lengthening days!

 

 

Elizabeth Colón

Related Posts

Power Your Dream
November 16, 2022

“The future belongs to those who believe in the beauty of their dreams.” —Eleanor Roosevelt As a...

Ready, Set, Sell!
October 19, 2022

Every woman business owner has a product or service that they’re responsible for selling. But are...

On the Money
September 21, 2022

If women business owners had the ability to improve one thing to open doors of opportunity for the...

Defining DEI&B
August 17, 2022

Building an inclusive culture isn’t just the right thing to do; it makes good business sense....

Seat at the Table
July 20, 2022

The word “advocacy” might sound overwhelming at first to a woman business owner who has never...

NAWBO Upcoming Events Blog
June 17, 2022

By Rosaria Cain NAWBO President   What’s Next? Beginning in July, our President-Elect Ania...

Culture Is Queen
June 15, 2022

Here at NAWBO, culture is vital. Everything we do, from our mission and values, to our goals and...

Nourish to Flourish
May 18, 2022

May is Mental Health Awareness Month and if any silver linings have come out of a prolonged...

Certified for Success
April 20, 2022

Getting certified as a woman-owned business takes commitment and more often than not grit. But it...

Beyond Your Business
March 16, 2022

When you first started your business, it was important to create the business you wanted—from the...

A Message From Our President: Mentoring...
March 02, 2022

Growing up, I never really had anyone to look up to. Not only that, but when I made up my mind and...

Generation Next
February 16, 2022

Throughout history, it’s always the responsibility of the next generation—and then the next—to...

Calling all Women of Vision- Have we...
February 09, 2022

  Calling all Women of Vision- Have we got a conference for you!   By Rosaria Cain NAWBO...

A Message From Our President: New Year...
February 02, 2022

HAPPY NEW YEAR! It’s been a wildly eventful couple of years, and 2021 has felt endless at times....

New Year, New Team
January 19, 2022

If you want to know a person’s character, look at the company they keep. That’s true too about an...

A Message From Our President: Looking...
January 04, 2022

Happy December! I don’t know about you, but I still find myself asking what year it is! After...

A Message from Our President: Leading...
January 04, 2022

Welcome to May! With spring in bloom and vaccination distribution well underway, we are beginning...

NAWBO PHX Blog
December 23, 2021

What a wild ride this year has been. Bring on 2022! By Rosaria Cain NAWBO President   This year...

2021 Year in Review
December 15, 2021

It’s been a year like no other for our community of women business owners. We kicked off 2021 with...

A Message From Our President
December 13, 2021

  The days are getting shorter and colder, but we still have time left in this year. For many...