Who are you when the company you built no longer needs you? For most founders, life after selling your business to private equity can take shape long before the deal closes. J.R. Greene started planning while he was still CEO.

J.R. is the vice chair and former CEO of Psychiatric Medical Care, one of the largest behavioral health companies in the country. His father founded it. When it was losing money, J.R. told his dad it was time to shut it down. His dad refused and asked, “Who’s gonna take care of my patients?” J.R. stepped in and spent the next 15 years scaling it. On still Ambitious, Bryan B. Sanchez and Divya Brown talk with him about the turnaround, the growth that followed, and how he knew it was time to step aside.

That meant making some deliberate decisions along the way. J.R. explains why he accepted 10% less money to work with the right private equity partner, how a dropped spoon at dinner helped him rule out another, and why hiring the right people for each stage of growth mattered. He also shares how he knew it was time to replace himself as CEO and why making that decision before Carlyle came along gave him the freedom to leave on his own terms.

Then comes the part most exit stories skip. J.R. is returning to an old ambition: becoming a game show host. He shares the story of selling a game show concept to Merv Griffin, being told he couldn't host it, and why he now considers this chapter his first act. And for founders who keep moving the goalposts, he offers a lesson he wishes he'd learned sooner about ambition, celebrating success, and knowing when enough is enough.

Episode Breakdown:

00:00 Bryan and Divya on the Cost of Striving

01:50 The Night J.R. Led Tennessee Onto the Field

08:36 From Coca-Cola Surge Man to Revlon Executive

11:39 Selling a Game Show to Merv Griffin

18:04 The Revlon Promotion He Lost and Why

20:57 Turning Down a KIND Bars CMO Role to Pursue Entrepreneurship

31:52 Choosing a Private Equity Partner Over Higher Offers

34:17 The Improv, Musical, and Syndication Hiring Framework

39:12 Life After Selling Your Business to Private Equity

47:18 Advice for His Younger Self on Ambition

Connect with J.R. Greene:

Listen to the SuperFan Diaries Podcast

Get a copy of My Magic Tux

Connect with Bryan and Divya:

Visit the still Ambitious website

Connect with Bryan on LinkedIn

Connect with Divya on LinkedIn

Podcast production and show notes provided by HiveCast.fm