When you successfully sell a business, you are privileged to be able to consider retirement. In some situations, however, you may just need time off or a hiatus, not absolute and total elimination of what you have done previously. Let’s regard how to build a successful retirement way of life, and then look at a separate take: a gap year.

Going from a Type A personality to a Type Z may seem attractive initially, but ultimately entrepreneurs – the ultimate go-getters-will find it hard to feel satisfied doing nothing. If you desire a traditional complete retirement without day-to-day obligations, you’re wise to plan that out.

Before you leave the business, planning the activities, courses, books, and people you want to take on can help you focus on your personal reward during the complicated process of selling a company. “Know thyself” becomes an working principle in this circumstance. As a business owner, you likely have been chugging full steam ahead at goals your whole life. Will you feel content without one before you? You will have more say so in deciding your goals once a business is sold. How will you take advantage of this chance for change?

For some, the notion of an endless vacation as a leisure-pursuing aristocrat looses attractiveness eventually. To go from a hundred miles per hour to zero may seem enticing, but, over time, it may become disagreeable to a former boss who’s comfortable with making things happen. Even in total retirement, reflect on our advice of dividing life into thirds: catch up on things you have postponed, maintain or improve your health, and find a challenging cause that you enjoy to devote energies to.

There’s another, equally important reason to plan your post-sale life earnestly before selling a company. Without a framework of life after the sale, your ambiguity could be so disconcerting that it causes resistance to selling the business at all. Potential buyers who sense a seller’s reluctance often decide against the sale, fearing it won’t go smoothly or will stop mid-stride. Without investing time in hashing out what’s important to you and planning a stimulating future, you may resist engaging in the selling process or focus only on the money when more gratifying options or potential buyers may be a better fit for your long-term joy.

A “Gap Year”

Maybe a “gap year” should be part of your plan. This is the European and increasingly American college student concept of taking time off for personal discovery during college or before starting a career. Operating and selling a business are strenuous, and a pause to rest, have fun, and explore could be a sensible use of your time. A restorative and contemplative vacation might reward you with the chance to study your next moves before putting them into action.

Our advice to you is that it’s best to structure your revolutionary process. We have recommended putting a flexible time length — a year, for example — on the journey. Again, on a more day-to-day level, consider setting aside one-third of the time on activities you’ve put off, one-third on maintaining or building your health, and one-third on actively searching for your personal “next big thing.” Perhaps that means enrolling in classes or meeting people, maybe hiring a personal coach, or taking up other activities that allow for self-assessment and find new ways to contribute and challenge yourself. It puts a intentional focus on what to become involved with, instead of letting whatever crosses your path distract or upset you. Our clients have told us that this method of thirds allows them a balanced break yet also encourages them to define the next phase of life.

I invite you to use these ideas to create your best-life business exit strategy.