You Sold Your Business, Now What: Chat Joglekar Of Baton On What To Do After You’ve Sold Your Business

Take stock of your life and what you want next

Selling a business is a major transaction and a significant turning point in someone’s life. Many entrepreneurs find themselves unprepared for what comes next. In this series we are talking with experts who help others through this process to learn how people can successfully navigate life after the sale. As a part of this interview series, we had the pleasure to interview Chat Joglekar.

Chat Joglekar is the co-founder and CEO of Baton, a marketplace for buying and selling small businesses. Baton is on a mission to create the next great asset class for all and empower small business owners and buyers on their entrepreneurial journey across America. Prior to founding Baton, Chat built multiple $100M+ businesses at Zillow, Spotify, and Google.

Thank you so much for joining us! To begin, can you share a bit about your professional background? What led you to specialize in helping people sell their businesses?

My background spans real estate, technology, and business strategy. I saw firsthand how difficult it was for small and medium-sized business (SMB) owners to navigate acquisitions, largely due to a lack of transparency and accessibility to critical data. My experience at Zillow showed me how the game could be changed in terms of providing access to data. My co-founder, Dylan Gans, and I were also personally inspired by Dylan’s grandfather’s struggles to sell his business. That experience solidified our mission to create Baton, giving business owners a streamlined, fair, and efficient way to exit their businesses.

Over the course of your career, what is one especially memorable experience that has stayed with you? What did you take away from it?

One of my favorite moments came when an SMB owner who used Baton sent us a video of the land he purchased with his sale proceeds. He had always dreamed of creating an adult day camp in Maine, and selling his business gave him the means to make that dream a reality. It was a powerful reminder that selling a business isn’t just a financial transaction — it’s a life-changing event that can open doors to new opportunities and fulfillment.

Let’s move onto the main topic of our discussion. In your experience, do most business owners feel prepared for what comes after a sale? What do they often overlook?

Most business owners are not fully prepared for the transition. Many focus entirely on the sale, getting the right price, and finding a buyer, but overlook the emotional and financial implications of what comes next. Questions like, “What’s my next purpose?” and “How do I structure my finances for long-term security?” can catch them off guard.

What common challenges do you see entrepreneurs facing as they transition out of ownership and into the next chapter of their lives?

The hardest transition for most small business owners is the shift in their identity after being associated with their business for so long. As they transition out, without a clear sense of “what’s next”, it can be hard for owners to feel a sense of purpose, even if they are ready for a break!

How does selling a business tend to affect someone’s personal identity or sense of purpose? How do you guide people through that shift?

Entrepreneurs often tie their self-worth to their business success, so selling can feel like an identity crisis. I advise owners to explore their next chapter before the sale is finalized, whether that’s mentoring, investing, starting a new venture, or engaging in philanthropy. Having a plan for post-sale life helps ease the transition.

From a financial planning perspective, what should someone do right after selling their business to ensure long-term stability and growth?

Once again, having a clear plan helps. Talking to a wealth advisor or understanding the financial implications of the sale is important (and we can help, of course!), but it depends on what the owner is doing with the proceeds: rolling it over into a new business venture, retiring, or something else.

What tends to surprise people most about life after the sale — and how can they better prepare for those surprises?

I think the lack of structure is the largest surprise — just like retirement, it can be jarring to move from a very busy day to a place where it’s very unstructured. So, having a plan post-sale is key. Certainly, celebrating and relaxing is critical, but once that is done, you need to have agency on “what’s next”.

What are some ways former business owners can stay engaged and find meaning in new ventures, projects, or personal passions?

Some transition into consulting or mentoring other entrepreneurs. Others start new businesses, invest in startups, or get involved in nonprofit work. Staying connected to their industry in some capacity often helps ease the transition.

What strategies do you recommend to mentally and emotionally prepare for this major life change?

Treat the next phase like you treated the prior one. Take agency and shape your post-sale life. Be as focused on the transition as you were on the sale!

How important is one’s professional and social network after selling a business? What are the best ways to tap into those relationships post-sale?

A strong network remains invaluable. Staying in touch with former colleagues, industry peers, and clients can open doors to new opportunities. Many former business owners join advisory boards, participate in networking groups, or become angel investors to stay connected.

How do you see the definition of “success” shift for your clients after they’ve exited their businesses?

There are two key archetypes: the ones retiring and those selling to spend more time on something new. After some reflection, most (if not all) of our owners can look back on their prior business with fondness. If they’ve sold it, it was successful! (maybe not as much as they envisioned, but still a success)

Based on everything you’ve seen, what are your “5 Things You Should Do After Selling Your Business”?

• Take a breath!
• Take care of yourself
• Take action and agency
• Take stock of your life and what you want next
• Celebrate!

Do you have a favorite “life lesson quote” that you share with clients? What does it mean to you?

“Life is about the journey, not the destination.” To me it means that the outcome is less important than the impact people have along the way, the customers helped, employees hired, the lessons learned.

We’re fortunate that many business leaders, investors, and creatives read this column. If you could have a private breakfast or lunch with anyone in the world, who would it be — and why? (We’ll tag them if we can!)

Brian Chesky

Lastly, where can our readers follow your work or learn more about what you do?

Follow me on LinkedIn

Visit https://www.batonmarket.com/

This was very meaningful, thank you so much! We wish you continued success!