There is a huge psychological element in selling your business that you need to prepare for.
Selling a business is more than a financial transaction. There is a huge psychological element, too.
There is a psychological element. I think selling a small business is very much like selling a family home.
It’s one thing to sell a house. We can sell houses that we don’t live in, but the home is where we live. If you have lived in it and you’ve raised your family there and you’ve been there 30 years and it’s sheltered you all that time, there’s a psychological element there.
That’s true for businesses as well. And we really ought to recognize that.
It’s tough to detach yourself from the business. I know that when I sold my first business and I was breaking things up and moving it along, you feel like it’s a child.…
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