Hello Search people,
I have faced couple of deals so far where the seller - who's baby we are talking about is getting over-emotional after relationship is built and everything else seems logical and clear.
It seems like afraid of "loosing" the personal identity formed while building the company during previous decades. In these cases it is not about money, valuation, deal conditions or any other hard and logical issues (which could be negotiated further) but probably a fear of loosing the way of living. It does not help if the seller has passed his/her "best-before-date" and is too used to live as an entrepreneur.
Any experiences for resolving such an issue to help the seller to took the decision and also find a new identity post-sales?
Soft side of negotiations: very emotional sellers
by a searcher from Henley Business School
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This "I don't have to sell" thing is interesting. I have faced that as well. Quick qualification of a potential deal seems to be most important core skill for the search.
I agree with Scott. Highly situational but if there's an opportunity for them to stay involved with something like entertaining clients or going to trade shows, this could be a great way to get value and keep them involved or come up with creative financing by allowing them to continue.
Also, I received some advice that if someone says "they don't HAVE to sell" or seems overly emotional at an early stage just move on and save yourself the hassle of getting three months down the road and having them pull out. Good luck!