Being a CEO of a corporation is a big job. It comes with daily stress and what feels like never a moment for oneself. When a CEO goes to retire, it would make sense that he or she decides to relax a little and stay away from the grind, right? Well, not necessarily.
Many a CEO has gone on to do things that look stressful on the outside, but are actually in their wheelhouse. After all, why gain all of those valuable skills only to not use them anymore? Retirement doesn’t mean the end of using one’s mind to follow pursuits. New opportunities open up, and why not try them out?
Give Back To The Community
CEOs often find that the experience they gained in running a business can also be applied to helping people at a grassroots level. The same skills also work well on the local level in terms of helping charities get grants; teaching the underemployed how to dress, write a resume, and how to interview well; and even straightening out the local community organization so it operates better. Teaching people how to structure their activities so things run better or helping individuals get ahead is something that CEOs do on a daily basis. Volunteering within the community is more of the same, but the reward is emotional instead of financial.
Get Involved In Sports
Many a CEO has retired from their position only to pursue sports teams large and small. One CEO, Daryl Katz, bought the Edmonton Oilers hockey team after selling his chain of retail drug stores. Some CEOs go back to college to help the sports team and take on roles in the back office to participate in the day-to-day operations. Their skills are valuable not only in helping the organization reach new goals, they’re also good coaches in their own right. CEOs have seen what works and what doesn’t. They impart that knowledge on the players and staff that support the team. Success in the board room also translates to success on the field.
Start A New Business
It seems counterintuitive to start a new business after piloting one to the heights of success, but it’s perfectly natural. A CEO knows what sells, how to sell it, and how to support the product. Doing it on the small scale instead of the large gives the CEO the opportunity to use their skills at much lower stress levels. There’s a lot less pressure involved in running a small business with a low sales volume than a regional or national one. A small business lets a CEO use knowledge, apply proven solutions, and keep customers satisfied on a much more personal level than when running a large corporation.
Retirement doesn’t always mean leaving behind a stressful way of life. CEOs have desirable skills they can parlay into new ventures, use to help community organizations, or start over from scratch. They get to stay busy on their own terms and keep their minds nimble.