Very rarely however on occasion the issue of seller’s remorse pops up. Everyone’s heard the saying it’s only when something’s gone that you realise how much it meant to you, well selling a business falls into this basket.
Generally speaking when a seller has remorse about selling its at the point of negotiation. It’s that realisation when someone offers you money for your pride and joy that you react on emotion rather than logic. Sometimes this reaction can be so strong that you decide selling isn’t what you wanted to do after all, other times you simply need a reminder of why you were selling in the first place.
It’s in this moment that an offer is in front of you that you have to put emotion aside and act rationally. See that’s what makes great business people. It’s those who have the ability to put emotion aside in times of heightened emotion and make the logical decision.
Strangely enough most sellers make an emotional decision to sell, it’s actually only 2 in 5 that make logical ones. Whether your buying, selling or acting as an advisor understand that selling a business in most case is a highly emotional process and should you be faced with seller’s remorse tread carefully. Take a considerate approach and help the seller remember why it was they were seller in the first place.