The Seller’s Emotions
When you decide to sell your business, you’re thinking from the logical, left-brain side of the mind. There are numerous practicalities to take care of and you know that selling will help you achieve your goals.
But as the moment of transition gets closer, emotions can start to take over. You may start to question your decision. Is it right for your employees and customers? What will happen to your business once it’s in new hands? You may begin to wonder about how you will fill your time after the sale, and that too can bring up strong emotions.
We understand the emotional aspects of selling what you’ve created and worked so hard to build. Our team is experienced at helping people get through the process of selling their businesses and is always here to listen to your concerns and provide advice and a shoulder to lean on.
Emotions When Selecting a Buyer for Your Business
You may find that emotional issues become more important to you than so-called practical issues when it comes time to choose a buyer to work with. For example, early in the process, many clients are very focused on ensuring their financial goals are achieved. But as they get to know potential buyers, it becomes more important to find someone who will take good care of the employees or someone who they feel is very trustworthy.
We understand that your priorities may evolve throughout the selling process and are here to support you in creating and structuring a transaction that meets your personal and financial goals.
Fear of Letting Go
While most people who are ready to sell look forward to finally letting go of the stress and risk involved in being a business owner, they may experience some fear when it comes time to actually do so. Once you transition the operation to new management, you may no longer have a say in the day-to-day decisions that you’ve been in charge of for so long. In addition, the business is no longer “you.” Letting go may also mean that people see you differently and that you see yourself differently.
Rest assured that these thoughts and feelings are normal. We will work with you to help you deal with them and do our very best to ensure the things that matter to you are taken care of.
Preparing ahead of time is the best way to handle the emotions connected to selling a business. While you will most likely have some doubts and fears throughout the process, preparation and planning will help you navigate the sale of your business as smoothly as possible.