Startups For the Rest of Us
Episode 740 | My New Book! The Entrepreneur's Guide to Selling Your Business Without Regret
Nov 19, 2024
In this conversation, Dr. Sherry Walling, a clinical psychologist and co-author of 'Exit Strategy', dives into the emotional and psychological complexities faced by entrepreneurs selling their businesses. She discusses the challenges of navigating identity after a sale and the impact of sudden wealth on personal relationships. The duo also explores practical strategies for managing emotions during this significant transition and highlights the importance of thoughtful decision-making before, during, and after the exit. Plus, the Kickstarter campaign for their book is live!
29:49
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Quick takeaways
- Selling a business involves significant emotional and psychological challenges that can affect entrepreneurs across all industries.
- Post-exit life requires founders to reconnect with their identity and purpose to navigate feelings of isolation and dissatisfaction effectively.
Deep dives
The Journey of Selling a Business
Selling a business is a complex and emotionally challenging process that many entrepreneurs face. The experience is often likened to a significant life event, such as going through a divorce, highlighting the mental and psychological toll it can take. Interviews with various entrepreneurs revealed universal struggles, emphasizing that the difficulty of selling transcends the type of business being sold, be it SaaS, an agency, or a brick-and-mortar store. Understanding these emotional dimensions is crucial for entrepreneurs at any stage, as the knowledge can guide their thoughts and actions while building their businesses.
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