We have been discussing the emotions surrounding the sale or purchase of a CPA firm or tax practice. We have addressed the emotion of fear.
The next emotions we will address are Excitement and Sadness. Sellers will generally vacillate between these two emotions often. As excited as they are about the possibilities of enjoying retirement or pursuing other business opportunities, they cannot seem to separate the excitement from the sadness of leaving behind the personal relationships they have come to enjoy during the many years of serving their clients. They are excited about leaving behind the long hours, administrative duties, etc. but will miss the daily routine and the interactions with employees and clients.
While it is common to feel both of these emotions at the same time, in time after the sale, the seller will usually become more at peace with the decision to sell. Especially as they begin to enjoy a more relaxed, fulfilling lifestyle. Most people work a long time anticipating this time of life, so try to just focus on the things you love to do and enjoy!!!
Buyers, you too may feel the emotions of excitement and sadness, but for different reasons. As you enter a new phase of firm ownership, remember why you chose to make the leap and learn ways to focus on the positives! Firm ownership can be overwhelming, but very rewarding!
In our next post, we will conclude this series on emotions and discuss Pride and Satisfaction. Stay tuned...