Selling any business is a significant milestone. It often represents years of hard work, dedication and passion. Whether you’re looking to retire, pursue new opportunities or simply move on to the next chapter of your life – the decision to sell can be both exciting and daunting. Amidst the flurry of negotiations, due diligence and potential buyers one virtue is going to be the difference-maker: patience.

Patience is not merely the ability to wait but the capacity to maintain a positive attitude and sense of calm amid uncertainty. When it comes to selling your business, patience is essential throughout every stage of the process. From preparing your business for sale to negotiating terms with potential buyers, embracing patience allows you to navigate the journey with grace and resilience.

This is a good place to bring up the most crucial aspect of patience: setting realistic expectations. While it’s natural to hope for a quick and lucrative sale, the reality is that selling a business is often a complex and time-consuming endeavor. Think 9-12 months, on AVERAGE. The timeline for selling a business can vary widely depending on various factors including market conditions, industry trends and the size and complexity of your business. By tempering your expectations (and embracing the knowledge that this might take a while) you can approach selling with a realistic mindset and avoid unnecessary frustration or disappointment.

Patience also plays a crucial role in building relationships with potential buyers. Selling your business is not merely a transaction but a negotiation process that involves trust, communication and mutual understanding. Rushing the process or pressuring buyers can undermine trust and jeopardize the deal. Instead, take the time to cultivate relationships with potential buyers, understand their needs and motivations and address any concerns they may have. By demonstrating patience and attentiveness, you can foster a positive back-and-forth with buyers and increase the likelihood of reaching a closing table.

The journey of selling your business is rarely a smooth and linear path. Like any significant undertaking, it’s bound to have its ups and downs, setbacks and unexpected challenges. And it’s going to take TIME. During this process patience becomes your greatest ally – allowing you to maintain perspective, stay focused on your goals and persevere in the face of adversity.