The Human Side of Selling a Business: Navigating Emotional and Legacy Concerns

Selling a business is never an easy decision — not after all the sweat and tears you’ve poured into your company to ensure its success. It’s normal to feel conflicting emotions when you start the process of a sale.

At Symmetrical, we’ve helped numerous business owners sell their business, and while we certainly offer guidance on the Xs and Os of an acquisition, we’re also here to help provide emotional support as you make your way through the sale process.

Embrace the Emotions

A business owner who doesn’t feel stressed or conflicted about selling their business is a very rare thing. For many people, their business becomes one of the most important parts of their lives, so it’s understandable if you’re feeling a range of emotions once you’re on the precipice of a sale.

Instead of trying to fight these feelings, we believe it’s best to embrace them. Sometimes, your emotions can actually help make the sale more successful. For instance, if you’re feeling worried about a particular aspect of the deal — for example, how your former employees will be integrated into the new business — it may be a sign that there’s more planning to be done. Addressing concerns with the buyer can simultaneously put you at ease while improving the overall deal.

Navigating Your Legacy

In our experience working with business owners, one of the most common sources of anxiety is related to legacy. This isn’t an egotistical kind of legacy but rather a desire to ensure that the business you’ve built continues to live on in the future. The best way of minimizing this anxiety is to find the right buyer, which is an area where our team at Symmetrical excels.

Finding the right buyer goes beyond business synergies. Instead, here are a few questions to consider discussing with a prospective buyer:

• What is your long-term vision for the business?

• What does your corporate culture look like?

• What are your plans for integrating the business’ employees after the sale?

Shared culture is an essential element of success in any M&A deal. By finding a buyer that shares your overall philosophy, you’re helping to maintain your business’ legacy.

Once you decide to go down the path of selling a business, you should expect to feel a range of emotions. Our team at Symmetrical has helped countless business owners achieve successful sales, which means we’re well aware of the emotional coaster that is the M&A process. Don’t take the ride alone; get in touch with us today to learn how our team can help you sell your business — and give you the emotional support that you need throughout the process.