#23: Ben Tossell - What Happens After You Sell Your Startup
Mar 26, 2024
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Ben Tossell, founder of Makerpad, shares his journey after selling his company to Zapier. He discusses his emotions, investments, and building an AI Assistant. Topics include why he sold the company, his first year post-sale, money management, and current investments in AI startups.
Setting goals and the process of pursuing them are essential for personal growth and fulfillment.
Founders experience a rollercoaster of emotions post-company sale, highlighting the challenges and reflections involved.
Exploring AI assistants can enhance productivity, showcasing the potential for streamlined automation in tasks.
Deep dives
Importance of Setting Goals and Achieving Them
Setting goals gives individuals a direction and purpose, helping them strive for achievement. The podcast highlights how individuals tend to shift their goalposts once they reach a specific target, emphasizing that the process of pursuing a goal is significant rather than just hitting the goal itself. This continuous pursuit of betterment and reevaluation of goals is vital for personal growth and fulfillment.
Post-Company Sale Reflection and Emotional Journey
The episode delves into the experience of selling a company, focusing on Ben's reflections after selling MakerPad to Zapier in 2021. Ben discusses the emotional waves he felt post-sale, including why he sold the company, his activities in the first year after the sale, and the complex feelings that arose. The narrative sheds light on the rollercoaster of emotions and challenges faced by founders post-exit.
Exploring Building an AI Assistant and Automation
The conversation transitions to Ben's exploration of developing a personalized AI executive assistant to enhance productivity. Ben utilizes Zapier Central, a platform offering chatbot-style interactions integrated with task triggers and actions. The AI assistant automates tasks like reviewing calendar events, finding emails, and summarizing meeting backgrounds, showcasing the potential for streamlined automation in personal and work-related tasks.
Initiating Acquired Founders Community
Ben's venture into creating Acquired Founders serves as a community platform for founders navigating life post-company sale. Recognizing a crucial need for support and shared experiences among founders after successful exits, Ben prioritizes providing a space for individuals to connect, share insights, and find solace in understanding peers' journeys. The community aims to offer guidance and camaraderie in the often isolating journey of transitioning after a substantial business sale.
Reflection on Financial Decisions and Investing Post-Sale
The episode reflects on the financial decisions post-sale, including Ben's approach to investing and managing funds after the acquisition. Ben discusses his experience of making substantial financial investments, including exploring funds, venture capital, and stock market options. The conversation underscores the importance of thoughtful financial planning and the impact of post-sale financial decisions on personal and professional pursuits.
In this episode, we discuss what happens after you sell your company. Ben sold his company to Zapier in 2021 for an undisclosed amount, but it was enough for Ben to retire from working. We discussed why he sold the company, what he did in the first year, and the wave of emotions he felt after selling the company. We also talked about how he spent the money and what he’s investing in today. I also picked his brain on how he’s building an AI Assistant.
GUEST
Ben Tossell writes an AI Newsletter, Ben’s Bites, and invests in early-stage AI startups. He was previously the founder of Makerpad, a no-code education site, which was acquired by Zapier. He also just launched a new community called Acquired Founders.
The Karnjanaprakorn Show is where I explore ideas across life, startups, and technology. As the former founder of Skillshare, I am now following my curiosity as I figure out my next thing. This show follows that journey, exploring topics like longevity, emerging technologies, living a fulfilling life, and more.
CHAPTERS
00:00 Intro
12:49 Why Sell
19:16 First Year
25:07 Stay or Leave
35:19 Money, Spending, Investing
45:53 AI Executive Assistant
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