@1greenMitsi agreed! We live in a modest townhouse, our daughter is a high school senior and there are a lot of other differences in my situation v/s JP. But wildly relatable was in context of retirement v/s sabbatical, finding yourself, having structure to pursue personal projects/passions, finding the new rhythm and network.
That was a great video. Thanks for sharing. I took a year off after university and travelled. So that part is very much relatable with how you felt about your travel experience. I think we humans need a purpose in life, something we work towards to.
Great video! I found it challenging to discover my purpose after stepping back from the day-to-day operations of my business. The hobbies that once brought me joy during stressful workdays didn't provide the same satisfaction when I suddenly had all the time to pursue them. I agree that having a routine is beneficial. Humans are meant to work and tackle difficult tasks, but finding the right balance can be tough.
@@5ForFifty I think you could make a whole series of interesting videos based around how you spent your time at different stages of business and lessons learned. Thank you for all the knowledge you’ve shared with us over the years! It’s much appreciated.
I do not think I would be able to handle not having my business in my life. I believe I would feel lost. Even though it’s relatively hands off at this stage. I constantly get private equity prospects but there’s no way right now I could sell out. I appreciate the video very much it helped me.
I felt that. I could never be done. I had only planned to take 1 - maybe two years off. I wouldn't have done three had it not turned out to be great. I didn't spend my time watching TV. For me, like you, I think my ideal life involves work. My favorite people are entrepreneurs.
Thank you for sharing that! I’m for me the biggest complaint from my wife is that I don’t know how to turn off the work mode off to spend quality time. We spend time working together on the business which I love it’s just tough because I don’t watch much tv or movies. I feel anxious because I could be using that time to get better at other things 😅
Thank you, really interesting story. I want to retire... from being an employee. Would love to run my own business, and have more free time, usually the two dont go hand in hand. But something needs to change.
Love this!! Would love to hear more like this. My business is still small but have gotten it to a place where I am not needed regularly.. make a decent living but… what next? My business works well today but is still a bit key man dependent. I don’t want to get complacent. What advice would you give about continuing on and taking the next step?
Keep building. Go bigger. Don't start anything new. Make the thing you've got incredible. Do more of 'gotten it to a place where I am not needed regularly'.
And, figure out what you love doing in the business. Get incredibly good at that. Hire people to do everything else. If you build that... you will be happy owning it forever and it will be big.
Really interesting perspective! I can relate to some of your points, especially about focusing on others and personal growth. One thing I'm curious about is your thoughts on accumulating wealth-do you think it might be driven by a subconscious need for a sense of achievement, even if the numbers themselves don’t have a direct purpose? I’d love to know if this is something you consciously accept as part of your journey, or if you’ve ever thought about challenging or working on this aspect.
I've given this a ton of thought - and have come to believe my accumulation mindset is 1st about security. Since I was a young kid I've (falsely) believed the direction of the world would go bad and that life would eventually be really hard. I theorize that at a deep level, my brain thinks accumulating a lot of money would help protect against that future. 2nd to that, I'm competitive. I have to fight the urge to look at what someone else has built and want to do the same. As you said, I think this is about measuring achievement. I remind myself I might want (and temporarily enjoy the outcome), but I don't necessarily want the journey. Hope that makes sense. Thanks for the comment.
If money wasn't an issue, of course a 3 year sabbatical might be possible. If you aren't a business owner that has made a healthy exit or independently wealthy, not so much.
100%-I was giving my experience. Three years is way longer than necessary. Few companies offer such an option for tenured employees, so this tends to be a luxury business might eventually be able to afford. Doesn't require an exit. It requires building the business to a place where the leadership team can run the business in the owner's absence.
I don't think I was burned out. When I sold one of the businesses I was more excited about doing / trying something new. I didn't want to be done. And, never imagined taking 3 years. But, I found a ton of fun stuff to fill my time so 3 years turned out to be good. I would agree, I think a year is probably ideal. I think 6 months might even be enough. After 6 months I saw more clearly some of the areas I was still involved in my company that had been 100% unnecessary. And, I saw a bunch of the mistakes I had made.
@@5ForFifty Yes, understood. I gained a lot of good insights from the videos you produced as of late & can relate to so much of what you say, Thanks!! A video on losing or keeping momentum would be great.
Wildly relatable! Especially about correcting people who use the word 'retirement' to say I am on a 'sabbatical'. :)
👍 I've never liked the idea of retirement.
'Ive got 3 fountains' wasnt relatable at all
@1greenMitsi agreed! We live in a modest townhouse, our daughter is a high school senior and there are a lot of other differences in my situation v/s JP.
But wildly relatable was in context of retirement v/s sabbatical, finding yourself, having structure to pursue personal projects/passions, finding the new rhythm and network.
HaHa
That was a great video. Thanks for sharing. I took a year off after university and travelled. So that part is very much relatable with how you felt about your travel experience. I think we humans need a purpose in life, something we work towards to.
i agree - thx rudy.
Thanks for the great content. I like he phrase sabbatical rather than retirement!
Great video! I found it challenging to discover my purpose after stepping back from the day-to-day operations of my business. The hobbies that once brought me joy during stressful workdays didn't provide the same satisfaction when I suddenly had all the time to pursue them. I agree that having a routine is beneficial. Humans are meant to work and tackle difficult tasks, but finding the right balance can be tough.
Hey Aaron - agree with each of your points.
really appreciate your videos, its great to have an honest take
You’re welcome!
This is a great perspective. Thank you JP.
You're welcome.
Thank you for sharing. I love videos like this
Great. Let me know if you have other ideas.
@@5ForFifty I think you could make a whole series of interesting videos based around how you spent your time at different stages of business and lessons learned. Thank you for all the knowledge you’ve shared with us over the years! It’s much appreciated.
You're welcome.
A very good episode ✅ thanks Jonathan
Thanks Geoff. Hope Africa is being good to you.
I do not think I would be able to handle not having my business in my life. I believe I would feel lost. Even though it’s relatively hands off at this stage. I constantly get private equity prospects but there’s no way right now I could sell out. I appreciate the video very much it helped me.
I felt that. I could never be done. I had only planned to take 1 - maybe two years off. I wouldn't have done three had it not turned out to be great. I didn't spend my time watching TV. For me, like you, I think my ideal life involves work. My favorite people are entrepreneurs.
Thank you for sharing that!
I’m for me the biggest complaint from my wife is that I don’t know how to turn off the work mode off to spend quality time. We spend time working together on the business which I love it’s just tough because I don’t watch much tv or movies. I feel anxious because I could be using that time to get better at other things 😅
Not uncommon for entrepreneurs
Big question, did you enjoy it. Would you do it again if you went back 3 years?
Yes. And, 100%.
Thank you, really interesting story. I want to retire... from being an employee. Would love to run my own business, and have more free time, usually the two dont go hand in hand. But something needs to change.
I hope you find a way to make that happen!!
@@5ForFifty thank you 🤞🏻
Great video thank you
Excellent.
Love this!! Would love to hear more like this. My business is still small but have gotten it to a place where I am not needed regularly.. make a decent living but… what next? My business works well today but is still a bit key man dependent. I don’t want to get complacent. What advice would you give about continuing on and taking the next step?
Keep building. Go bigger. Don't start anything new. Make the thing you've got incredible. Do more of 'gotten it to a place where I am not needed regularly'.
And, figure out what you love doing in the business. Get incredibly good at that. Hire people to do everything else. If you build that... you will be happy owning it forever and it will be big.
Really interesting perspective! I can relate to some of your points, especially about focusing on others and personal growth. One thing I'm curious about is your thoughts on accumulating wealth-do you think it might be driven by a subconscious need for a sense of achievement, even if the numbers themselves don’t have a direct purpose? I’d love to know if this is something you consciously accept as part of your journey, or if you’ve ever thought about challenging or working on this aspect.
I've given this a ton of thought - and have come to believe my accumulation mindset is 1st about security. Since I was a young kid I've (falsely) believed the direction of the world would go bad and that life would eventually be really hard. I theorize that at a deep level, my brain thinks accumulating a lot of money would help protect against that future. 2nd to that, I'm competitive. I have to fight the urge to look at what someone else has built and want to do the same. As you said, I think this is about measuring achievement. I remind myself I might want (and temporarily enjoy the outcome), but I don't necessarily want the journey. Hope that makes sense. Thanks for the comment.
If money wasn't an issue, of course a 3 year sabbatical might be possible. If you aren't a business owner that has made a healthy exit or independently wealthy, not so much.
100%-I was giving my experience. Three years is way longer than necessary. Few companies offer such an option for tenured employees, so this tends to be a luxury business might eventually be able to afford. Doesn't require an exit. It requires building the business to a place where the leadership team can run the business in the owner's absence.
3 years seems kinda long, burn out?? idk, I can see a year. Being out of the game that long may be counter productive
I don't think I was burned out. When I sold one of the businesses I was more excited about doing / trying something new. I didn't want to be done. And, never imagined taking 3 years. But, I found a ton of fun stuff to fill my time so 3 years turned out to be good. I would agree, I think a year is probably ideal. I think 6 months might even be enough. After 6 months I saw more clearly some of the areas I was still involved in my company that had been 100% unnecessary. And, I saw a bunch of the mistakes I had made.
@@5ForFifty Yes, understood. I gained a lot of good insights from the videos you produced as of late & can relate to so much of what you say, Thanks!! A video on losing or keeping momentum would be great.
Thanks. I'll add that to my list.