The document discusses common issues that founders and their families face after selling their business, including rarely being able to fully walk away from the business at the cash price, often experiencing regret or remorse, and seldom having a clear path forward. It notes that sale terms like 100% cash purchases are rare, golden handcuff provisions are common, and notes and holdbacks are also common. It raises questions about who gets divested after the sale, and the near and long term impacts. It outlines impacts on founders and families like the far-reaching impact of taxes and net proceeds, misaligned interests after the sale, and having high ambitions without a purpose or means of execution after leaving the business.

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Founder
Owned
Business
What Does the Day After a
Transaction Look Like for
Founder & Family?
Post Transaction Issues
Seldom able to walk away at full cash price
Regret or remorse often ensues
Seldom has a clear path forward
Terms of Sale
• 100% cash purchase? Rare
• Golden handcuff provisions? Common
• A Note and holdback? Common
Post-Merger Integration
Who is divested after sale?
The near and long term impact?
Founder & Family
• Taxes & Net Proceeds, far reaching impact
• Misaligned interests
• High Ambitions, Absence of purpose or execution
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