Published: Januray 15, 2014
The following is an excerpt from: inc.com
“Someone handed me a check that set me for life,” recalls serial entrepreneur George Jacobs, “and I was miserable.”
The year was 1998, and the check was for $20 million. Jacobs, 50 years old at the time, had just sold American Limousine–the largest limo company in the country–to Carey International. But something felt wrong. With the lucrative check in hand, he walked the streets of his native Chicago for an hour and a half. “I should’ve been overjoyed,” he says, “but I wasn’t.”
What ailed Jacobs that day–and for the next seven years–was the entrepreneurial equivalent of postpartum depression.
The misery, she says, often increases when founders stay aboard to run their former businesses. That’s because new management often takes the business in a different direction.
For founders, says Glaser, this is like someone “taking your child and performing plastic surgery on it. You believe they’re destroying the beauty of this thing you’ve spent your whole life creating.”