The Business Brokers Survival Guide To Buying Or Selling A Business – 10 Tips For Buyers And Sellers

By Jason Alan - One thing’s for certain when buying or selling a business, it can be a emotional roller coaster for all parties involved (buyer, seller, and broker). It is important that as brokers we identify these emotions and strategically handle them.  I’ve learned to identify a series of patterns from my buyers and sellers with respect to their emotions and behavioral patterns and how to handle them. First and foremost not  taking any of them personally or getting my own emotion involved.  While this can be a challenging exercise, it’s imperative. Once the purchase agreement has been signed and due diligence has begun, buyers and sellers experience a wide variety of emotions. There are several factors that influence the decision making process beyond the hard facts at hand such as: Pride, Denial, Ego, 3rd party advocate (who usually  doesn’t have all of the facts), lack of confidence, and the list goes on.  When any combination of these emotions come into the equation it’s … [Read more...]