Starting and running your own business can be an incredibly satisfying journey to embark on. That being said, at a certain point, it can often make sense to move on – to sell your business and start a new stage in your life. As with any big change, it can undoubtedly be a cause of stress, but as we’ll find out, it can also lead to a decrease in stress in many ways. Let’s take a closer look at some of the factors to consider.
The reason for your sale
A factor that can have a massive impact on how stressful you find the whole thing is the reason behind why you’re selling. If you’re desperate for cash, and you want to get the sale done as quickly as possible, it will likely be considerably stressful for everyone involved.
If, however, you’re in no rush at all, and you can take your time to find the right buyer, you’ll likely find it a lot more relaxing. It’s always best to try to look ahead as far as possible, so that you can start the process as early on and eliminate any unnecessary rushing.
Using a business broker
Something else that can make a big difference to how stressful you find the sale is whether you choose to use a business broker like Dexterity Partners or not. Selling a business can be pretty complicated, and navigating the whole thing alone can require a lot of research. In most cases, it will be beneficial to use a professional business broker to help you out with the sale. They’ll be able to take care of a lot of things, from marketing to contacting potential buyers, significantly reducing how stressful you find the overall experience.
It might reduce your stress
Running a business can be full on, taking up a lot of your energy and time. As a result, you’ll likely find that by the end of the sale, your life is significantly less stressful than it was before. This can be useful to keep in mind while going through the whole process. Knowing that there’s a light at the end of the tunnel can be very helpful, allowing you to get through those months with something to look forward to at the end.
Attachment to your creation
Many businesses can take years of hard work to create. As a result, you’ll likely experience significant emotional attachment to your company, and the stress associated with selling it can be increased by this attachment. It’s important to try to distance yourself during the sale – to treat the business as an asset that you can part ways with. Of course, you can also actively look for a prospective buyer that is aligned with your values, to increase the chances that the business continues in a way that you approve of.
Selling a business will likely be stressful in a number of ways, but there’s also a lot you can do to minimise that stress. Ultimately, you’ll likely find that your life is less stressful after the sale is completed, with more free time to do the things you enjoy.