John West is a serial entrepreneur in the truest sense. Prior to his latest startup, he had already built and sold two companies in very different industries. And he says that while developing an idea to start a business takes time, selling that same business is just as complicated.
West started building Whistle Sports Network in 2008 after selling his second company, Silver Oak. After the Silver Oak sale, he decided to spend time with his children. As his children started watching sports, he started to notice that the media coverage, content and delivery weren’t geared toward younger generations. West started to research the media industry and decided to launch a linear cable network. Today, Whistle Sports has 315 channels and 115 million aggregate fans and followers.
During a sale, business owners have key financial and emotional considerations, like figuring out what to do once they don’t own that business and developing a personal financial plan. While the lump sum from a sale can be life-changing money, it’s secondary to the work as an entrepreneur, according to West.