After musing for the past few years with the idea of selling your business, now you feel the time is right.
You’ve worked hard; you’ve attained your goals and you’ve done well financially too. Now it is the perfect time to prepare for a comfortable retirement!
But in your plans, you fail to take into account the psychological barriers that can make it hard for you and other business owners to remain objective while detaching yourself from something you spent your whole life building. The situation can lead to a multitude of emotions.
You gave your time, energy, and ideas; you invested your savings and overcame great difficulties. It’s quite normal when selling your business to feel that you are selling a bit of yourself. At a time like this, you need some firm, objective support. You need to take time to identify and deal with the different emotions that you are going to experience throughout the sale process.
The stronger the bond with your business, the more you’ll see the sale as a rupture and an awkward area of uncertainty. During this emotional period, you’ll wonder whether the buyer will be up to the task, whether the company will survive your departure, and what will become of the employees…. You’ll need to ask yourself several important questions that will require you to take a pause and think about the sale objectively to gradually get comfortable with your decision to sell.
There are countless examples of business leaders whose strong emotional bonds with their enterprises have caused unnecesary noise during a business transfer.
This is why the expertise of a firm like Mergex is invaluable. We can be there to accompany you and ensure that you steer a steady course on what can sometimes be a very emotional and demanding journey.