The Role of Emotion in the Business Sale Process
You don’t let emotion get in the way of clear thinking, do you? Of course you do.
Buying a Car? Emotion Counts!
Think about the last time you went to an auto dealer. You just had to look at the red, two seater sports car, didn’t you? Perhaps this time you bought it. Yet, remember all those other times when you left with the SUV or the mini-van? We know you wanted the sports car. This is emotion plain and simple.
Emotion is an important part of any business sale transaction. Properly channeled emotion provides the energy and drive to get the transaction done. Emotion can be used in negotiations to your advantage or disadvantage. You cannot completely separate yourself from your emotions when you are selling the business you have spent a major portion of your life building. You cannot completely separate your emotions and yourself from family issues which are so prevalent in many small business sales.
Be aware of your emotions as you go through the business sale process. Try not to let them interfere with getting a good transaction completed. That is why we stress that you make sure that selling is the right thing to do before you begin. We highly recommend that you spend time reflecting on this decision. Review it with your trusted advisors. Make sure it is what you want and need. You will still wake up sweating in the middle of the night convinced that you are making the wrong deal, but you will get over that sick feeling much quicker.
Never discount emotions. They are the unspoken half of every transaction.
Gregory Caruso, Esq CPA CVA