Episode 3 “Emotional Readiness to sell”
For this episode Chelsea Lees from SuccessionMatching together with Dr. Regan Patrick from Dept. of Neuropsychology in Geriatric Psychiatry from McClean Hospital Harvard Medical School discussed about the “Emotional Readiness to Sell” on business/succession planning.
A lesser discussed topic in the landscape of succession and business transition is the emotional element to selling. In many cases, business owners find their identity tied up in their role. They have poured their heart and soul into the business over the course of many years or even a lifetime, making the idea of parting ways a challenge. While some business owners see this coming, others can be completely blindsided. Regardless, knowing that there will be an emotional toll to the sale of the business can go a long way in every aspect, from the transition and mentorship period to the actual negotiations themselves.
In this episode, we discuss this very topic with Dr Regan Patrick, PhD in psychology and expert in geriatric psychiatry and neuropsychology. Learn how the brain works in these pivotal moments and some tips on how to prepare yourself for the emotional component of selling and transition
Watch the whole episode