You may be completely burned out and ready to sell your business today, but the one part of the selling process many business owners aren’t ready for is how they feel the moment they walk away from the closing table.
Sure, you will likely feel relief that the business transaction is over and excited about what the money you’ll get from selling your business might mean in terms of future endeavors – but you are also going to miss it.
I’m selling because I don’t want to be the owner of this business anymore, I’m over it. What could I possibly miss?
When you are the owner of a small business, that business becomes a huge part of your life and a part of your identity. When you suddenly aren’t tied to that business it will feel like you’ve lost a part of yourself. Your day-to-day routines will change, your role as owner and your status as self-employed will end.
Why are we telling you this?
“I’m going to be unemployed tomorrow” and “what do I do now?” are often stronger emotional notions than many owners expect, and can cause a very serious case of cold-feet on closing day.
Don’t derail your deal by freaking out at the last minute.
Instead, be mentally prepared to feel a sense of loss and focus instead on what your future might hold.
Perhaps a long vacation is in your immediate plans, a well-deserved and much-needed bit of time off.
Perhaps you think you might like to buy a different business, maybe in a different industry so you can give yourself a fresh start. Have you done a cursory search to see what’s out there? You can start by searching here, then contact your business broker to discuss what investment options might be available to you after you sell.
By preparing yourself and by having a future plan to focus on you will have a better experience after the closing table.
Are you thinking about selling but are concerned about how you will feel after the sale? Do you have questions about other businesses that might be available as a next venture? Leave any questions or comments here and we would be happy to help.
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907