Financial and Personal Challenges After Selling Your First Business
TIGER 21 Founder & Chairman Michael Sonnenfeldt recently made an appearance on the My First Million Podcast to discuss selling your first company with hosts Sam Parr and Shaan Puri.
Michael founded TIGER 21 in 1999 while seeking objective advice regarding the management of his wealth following a major liquidity event. Through Membership in small, intimate Groups led by Chair facilitators, TIGER 21 gives post-sale entrepreneurs a place to learn about preserving and growing their wealth. TIGER 21 also offers a forum for unbiased insight from fellow Members who understand the challenges and opportunities these high-net-worth individuals might experience.
Broadly, these challenges fall in two overall categories:
- Financial: How to manage, preserve, and grow new-found wealth, as well as establish professional financial partnerships, such as those with a money manager or wealth manager.
- Personal: How to navigate the psychological and interpersonal issues that arise, such as a shift in personal relationships, a loss of identity, potential crises of trust, and the transformation of one’s lifestyle and goals.