Multi-Unit Franchisee Magazine Issue III, 2015 | Page 73

ExitStrategies
BY DEAN ZUCCARELLO

Keep Calm (If You Can)
5 tips for managing emotions in a sale

M

any of the topics we address as a firm focus on
the technical aspects of a
transaction, such as market
observations, quantitative measurements,
and other deal points, but seldom do we
discuss the emotional side. While the financial aspects of a deal are important,
the intangible feelings associated with
selling a business also have a significant
impact on the process.
Corporate sellers generally have the
benefit of emotional detachment from the
selling process and are typically focused
more on price and execution. Entrepreneurial sellers have the added burden of
dealing with a multitude of emotional
challenges, such as letting go of a business
they have created, built up, and managed
for a long time. This dynamic should not
be ignored.
In our experience, the emotional aspect
of selling a business must be discussed
and dealt with early in the sale process.
We have encountered the full spectrum
of emotions from our clients. Some easily isolated their emotions from the process, while others were so emotionally
charged that they ultimately prevented
a transaction, only to later regret their
actions. However, for most sellers it is
somewhere in between. Based on our 25
years in the industry, here are five s ՝