I sold my company for millions AMA

[LivingAllTheDreams]

That's it really - thought people might be interested

Although I'm not going to tell you the name of the company

I wish people wouldn't try to bring the OP down by references to systems they dislike.

What advice would you give someone else who wanted to do something similar (ie start their own business)?

hollowtalk perhaps you missed my other post where I congratulated her and called her inspirational?

Certainly there have been periods where I worked crazy hours but there were also hours where there wasn't enough to do, when we were kind of waiting for something to happen.

And yes I wore a lot of hats in the early days whilst I tried to be all things to all people.

Did you start the business with the idea of building it up and selling?

"Worth" or value are really interesting concepts.

Was the money I was paid reflective of the hours I put in - no not really. It was many times what most people can hope to earn in a lifetime and proud as I am, I'm not convinced that I personally am worth that reward.

On the other hand the efficiencies the tech provides are hugely beneficial to customers so they're certainly getting value for money.

puffyeye absolutely not.

The business was started as a means to make ends meet. Obviously there was a time when I realised it was likely to be extremely profitable when we sold but there was a long period where I worked just to pay bills.

Congrats!

Total congrats to you OP!! Enjoy and try and do all the things you want to do!!

Did you start the company using skills/experience/ knowledge you already had?

Have you treated yourself to some sort of a big purchase?

Congratulations! No questions really but I wanted to say well done you! You’ve done what I really wish I could have done - not necessarily for the money alone (although I absolutely would have a blast spending it whilst also being completely secure financially), but I should have had something to sink my quite formidable mind and teeth into, and I would have loved to have been able to point to an actual, concrete accomplishment and say ‘I did that!’. It must feel truly awesome.

BBB initially it was started with skills I already had, I'd qualified and worked as a lawyer for a few years and the initial offering was very much based on that.

As the business diversified I was forced onto a very steep learning curve where I had to learn much more about running a business and everything that entails as opposed to the operational work.

And thanks for all the well wishes

When I posted this I was expecting to be asked questions about the money rather than the work

Ninkaninus it's never too late to get stuck into something.

I've been fortunate enough to meet all sorts of business owners and entrepreneurs through my work and some of the stories are fascinating.

In terms of advice the biggest piece would be:

Stay Curious: Every single person you meet knows more about something than you - learn from them.

I am in the same boat but although my family know , I've never ever told anyone how much it sold for , not even my about to be husband! It was 10 years ago, I was early 30s, and I have since moved, so none of my newish friends have any idea, but that's the way I like it! I do find it unbelievable that everyone assumes we are comfortable because of his job though....

Congrats op for doing what you did, I hope people don't treat you any differently and that you don't hide it as much as I do!

Congratulations to you too @thinkingcapon

I can totally relate to people thinking your financial situation is as a result of DP. DH runs his own successful business and everyone assumes he's the main earner - I have a couple of friends who are in similar situations.

Without my money we'd be very comfortable but totally different position.

In terms of "hiding it" I suppose I'm fortunate in that a lot of my expenditure is seen as part and parcel of a "good career".

E.g. If I say we're going to Greece for a holiday no one would think that particularly extravagant. But they have no idea whether that two weeks has cost 5k or 50k

May I ask why you started the thread.....was it with a view to helping others achieve the same success?

Not really sure why I posted - just thought my situation is fairly unique and people might be interested.

Hope you are still checking this thread @LivingAllTheDreams.

Congratulations on your success.

I know someone in a similar position, who sold her company for 9 figures. Unfortunately, building up her company cost her marriage (she's happily remarried now, thankfully). Did you experience similar relationship troubles or any other downsides to building up a company or being successful?

Approx how many millions @LivingAllTheDreams? Also, if this isn't a stupid question, what do you do with it? I assume it's not all sitting in your current account.

@CeriseSky I don't really think there was a downside. I worked long hours and it's undoubtedly been stressful
but I'd have had that experience if I'd have stayed working as a lawyer.

My marriage has had its moments, but the money helps enormously. We don't have many of the stresses that others experience: no bickering over who last emptied the dishwasher etc.

In terms of amounts: near enough to £50m. The deal was structured in a way that meant I didn't get it all at once!

What to do with it is not a silly question at all. I'd had savings and stuff but the first time the bank offered to send someone round to my office to "discuss my options" and sent champagne was eye opening

Near enough to £50m 😮 well done op!!!

It's really encouraging to hear you started it in your thirties too!

What's the first thing you spent some money on?