Navigating business transitions: Insights from entrepreneur Alex Bell

What motivated you to sell, and how did the process begin?

Alex: My care home business grew to the point where it attracted attention from venture capitalists.

I hadn’t planned on selling. Like many business owners, I was courted by potential buyers, but it wasn’t until I received a handwritten letter from an agent that I took it seriously.  It caught my attention because it was personal, and after a few conversations, I started to see the potential in selling.

At 35, I probably would have turned the offer down. But at 57, you start to think differently about financial security and what you want to do with your time. You begin to reflect on how much time you’ve spent growing the business, and whether the next phase of your life could involve something new.  And you realise that there's things you want to do with your time that you probably can't do if you've still got a business.

So, when the numbers made sense and the opportunity aligned with my life goals, it became clear that this was the right move.

What were the biggest challenges you faced during the exit process?

Alex: One of the toughest challenges was the amount of detail involved in selling a business of that scale. I’m not a detail-oriented person, so I had to rely heavily on my staff and professional team for support.

Another challenge was the legal and financial processes. You’re often at the mercy of other entities, which can make things unnecessarily difficult. But the emotional side of letting go was definitely the hardest part.

How did you handle the emotional side of selling your business?

Alex: Selling a business is highly emotional – far more than it is financial. It’s like selling a child. You’ve given everything to it, lived and breathed it, and now you’re handing it over to someone else.

The biggest concern isn’t the money; it’s whether the buyer will run the business the way you did and protect what you’ve built. I think this is something every business owner feels when they part with something they’ve nurtured for so long. You want to ensure that the culture, the people, and the purpose of the business stay intact after you’re gone. It’s a mixture of fear, hope, and a little bit of letting go. You have to trust that what you’ve built will stand the test of time without you steering the ship.

It was tough, no doubt about it. The sale process is long and exhausting, both mentally and emotionally. You go through so many ups and downs. I leaned heavily on my team, who had been with me for years, and my wife was incredibly supportive. After the sale, I felt lost for a while. It took months to recover emotionally because your identity is so tied to your business. I found solace in friends, family, and the occasional pub visit, but it’s something that requires time to process fully.

“Selling a business is a bit like selling a child. You've given everything to it, and now you're trusting someone else to do right by it.”

What was your proudest achievement in running your business?

Alex: My pride comes from the team. It wasn’t just me – it was the staff who delivered the success. I couldn’t have done it without them. They bought into the culture and values I tried to instill and seeing them rise to the challenge is what really made the journey worthwhile.

It’s humbling to realise that while you may be at the helm, the collective effort of the people around you is what truly drives the business forward. That’s where my sense of accomplishment lies – building a team that performed at such a high level.

What advice would you give to someone considering selling their business? 

Alex: You’ve got to be honest with yourself. It’s critical to understand why you’re selling and what you’ll do afterward. Money won’t keep you happy for long. You also need a solid team of advisers – accountants, lawyers – because the process is emotionally draining.

And don’t let the excitement cloud your judgment. Take time to think about what life will look like after the sale. For many, the idea of stepping away can create a vacuum, where suddenly, you’re not sure what comes next. That’s why it’s essential to be prepared for what follows. The biggest mistake would be to rush into a sale without considering the emotional impact and the practicalities of what you’ll do next.

“The idea of having money doesn't last long for happiness. Be honest about why you're selling and what you really want.”

What’s next for you?

Alex: I’m about to embark on a 4,500-mile rally race across the Sahara, which I’ve always wanted to do. After that, I’ll probably build another company – I enjoy the process too much to stop. But for now, I’m working on my terms, which makes all the difference.

The rally is about testing myself, pushing boundaries, and seeing how far I can go. It’s less about business and more about personal challenges. After spending decades focused on business growth, I’m excited to have time for these adventures. That said, I’ll never be too far from building something new – it’s in my DNA. But whatever comes next will be driven by passion, not necessity.

Finally, if you could go back and give your younger self advice, what would it be?

Alex: I’d tell myself to go for it, to be braver. Don’t be afraid of making mistakes; that’s how you learn. You can’t live life without taking risks. The biggest regret would be not trying, not giving it your all. And don’t worry too much about the failures—they’re just part of the journey.