The Ripcord Moment

Business owners are today’s American heroes. They innovate, they create jobs, they believe that they can CREATE a better future for their families and our country. So much attention is given the start of a business (the idea, the technology, and the fund raising). Yet much less to the exit – as if it will magically take care of itself. When they do exit the business, it’s a once in a lifetime event – there is no do over! Yet so many are ill-prepared to make the jump.The Ripcord Moment is a podcast focused on learning from those entrepreneurs and their team of advisors who have made the jump and sharing their best ideas with you. So when you are ready for your Ripcord Moment – you can execute and hit your perfect landing. Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your attorney, finance professional or accountant before implementing any transactions and/or strategies concerning your finances.‍

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The Ripcord Moment

Finding My New Identity After Selling My Business | The Ripcord Moment (Ep. 29)

July 13, 2023 • Joe Seetoo • Season 3 • Episode 29

On today’s episode of The Ripcord Moment, host Joe Seetoo welcomes Tim Gaspar, CEO and Founder of Gaspar Insurance Services.

Tim spent 15 years building his company and began feeling uncertain how to continue growing within the insurance industry. In 2021, he decided to sell his business as various assets such as Bitcoin and real estate were experiencing high valuations. He considered the possibility that if he didn't sell his business at that time, he might regret it in the future when valuations could potentially decrease.

Tim acknowledges that selling his business had a considerable impact on his personal life, as he saw the business as a part of his identity. He emphasizes the importance of being mindful of how the transition can change your sense of self ahead of time and finding support from family and friends during the transition. Tim also finds fulfillment in getting involved with his local community and giving back. He says community work can improve one’s sense of ownership, accountability, and responsibility- and therefore their leadership skills.

Tim encourages listeners to take a leap of faith when they feel called, even if they do not feel “smart” or “ready” enough to. Many people try to put goals or tasks off due to the amount of time or energy it would take, but Tim says that time passes anyway and it’s better to start now and stop making excuses. He also suggests business owners to find wise people to learn from with a humble spirit.