Part 2/8:
One common misconception among CEOs is that selling their company means they can immediately cash the check and enjoy a leisurely life on a beach somewhere. Unfortunately, this isn't typically the case. Most private equity firms will require you to stay on for a transitional period. Your role will be crucial in teaching the new owners about the business's operations and culture. This transitional phase is vital for a smooth handover and to ensure the firm doesn't lose the inherent value your leadership has cultivated.