The Post-Exit Crash

The post-exit comedown is often shockingly abrupt and surprisingly painful

It goes by many names.

In a 1987 paper, Bonnie Robson and Eleanore Gillies called it “Post-Performance Depression” and analyzed the impact it had on art students. 

In a 2014 article in Psychology Today, Eileen Kennedy-Moore explained her theory of “Post-Adrenaline Blues.”

In HBO’s recent documentary “The Weight of Gold,” four-time Olympic snowboarder Shaun White explained the “dramatic emptiness” that engulfs many athletes after the competition is done.

It goes by many names, but I’ll call it The Crash.

The psychology articles describe it as what happens when your body experiences an abrupt withdrawal of stress hormones. 

Legendary Olympian Michael Phelps explained the feeling after he retired from competition: “one question hit me like a ton of bricks - who was I outside the swimming pool?”

If we’re honest with ourselves, we know that we identify too strongly with our careers and professions. For entrepreneurs, there is even more to it - building a business makes it a part of us. It is dripping with our DNA. Our character. Our values. 

So an exit isn’t just a financial transaction. It’s walking away from a part of who you are. 

In particular, the months (and perhaps years) leading up to a sale are even more busy and emotional, with all of the ups and downs involved with preparing a business for sale, negotiating with the acquirer, and communicating the news with your employees. And when it’s done, the money hits your bank account, and many sellers report a feeling of joy and euphoria as they anticipate the freedom it brings with it. 

And so you go from a period of heightened adrenaline to… well… what, exactly? 

Are you ready? 

No matter who you are, The Crash is coming for you. The impact it hits you with and the depth of the crash can be managed by being prepared for it. 

Knowing it’s on the way is half the battle.