I'm in a similar situation, well, not with a sequel, just with getting back to writing. For a while, I was a mad woman, writing/submitting/rewritting/sending partials and fulls/reading "nice" rejections and then starting all over again. Then I just sort of lost my steam, lost my conifdence, and dove into my kids' and hubby's lives so deeply that I had no time for anything of my own. They didn't demand it, probably didn't want or need it, but it was easier pushing and cheering their hopes and dreams then watching mine fail time and time again. So now I want to get back to writing, back to really taking it seriously, and I feel like a newbie all over again, except a loser newbie, one who has failed and taken a looooong break and has to start all over again. It's so strange. Getting out of the habit of writing and submitting really takes it's toll. So keep writing! And keep submitting. My biggest mistake was getting one or two rejections on a full or partial, then shelving the book, thinking it must be crap. I have wasted so much time because of that flaw in my thinking. I don't care if you're rewriting/revising or writing a sequel or both, just keep at it.