Unaddressed Emotion Kills Deals
There’s a classic, popular line in business sales – “Time kills all deals.” But when Denise Logan hears that, she knows the person who said it is actually scared – scared that if they don’t push, they will lose out and the deal will fall through.
Denise has another saying that challenges this mantra – “Unaddressed emotion kills deals.”
Every single seller has an emotional drama around the sale of their practice. If things happen too fast and their emotions aren’t addressed, then they will likely walk away from the deal. You can keep those transactions together as long as you help people to process the emotion that otherwise trips their fears. Sometimes it means slowing down so that their emotions can catch up.
The million dollar question becomes how do you drill down to find the unaddressed emotion in a way that won’t offend people? We discuss that and more in our final episode with Denise Logan.
Denise Logan is on a mission to help sellers and advisors to understand the change that’s happening, and to increase the number of advisors that have the ability to care about people, along with transactions. Weaving together her background as a lawyer, mental health professional and business owner has enabled Denise to deftly guide hundreds of business owners and their professional teams as they navigate the complex emotional journey of selling your business and letting go into your own version of what’s next.
Questions discussed:
- What is the best way to drill down to find unaddressed emotion in a way that will not offend others?
- What are some examples of unaddressed emotion leading to sellers actually sabotaging their own deals?
- What % of sellers have a difficult time with the emotional side of practice sales?
- How can practice sellers self-diagnose to determine if the emotional side of a transaction will be an issue in their deal?
- What is a seller’s best course of action to remedy challenges with the emotional side of selling their practices?
- What practical and intangible steps can a practice owner take to avoid the immortality mindset trap?
- What is the best way for a practice owner to emotionally prepare for the transition of their practice to new ownership?
- If you had to sell in the next year, what 1 THING would you do to guarantee success?
Contact Denise online at: deniselogan.com, or email her at: denise@deniselogan.com. Denise’s book, The Seller’s Journey is available on her website, and on Kindle and Audible.
Learn about dental practice transition specialists in your area by messaging: office@longinthetooth.info
Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at: longinthetooth.info