How Do You Deal With Emotional People and Emotional Situations in a Business Sale?
How do you deal with emotional people and emotional situations in a business sale?
A seasoned business broker understands that many emotions have to be dealt with to have a successful business sale.
You know you can control your own emotions, but how do you handle the emotions of the buyer and seller. Firstly, try to create trust with both parties. By building trust, both parties are more likely to listen to you and believe you.
Find the cause of their emotions and their goals, needs, and expectations. For example, the seller may be emotional about not having professional recognition after selling their business. A suggestion would be for the seller to help other business owners by providing a consulting service to grow their business.
Try to understand each party’s perception and the emotion associated with that perception. A perception can be changed or modified when you know the route of the perception.
Often time using third-parties and their constituents can help to understand the seller’s perception.
When you sell a business, there is more often more emotion on the sell-side. An experienced business broker recognizes these emotions and strives to help the seller move forward in a manner that gives him the confidence necessary to conclude the transaction.
Michael J Schwantes, President & CEO
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