Are you Emotional Attached or Emotionally Invested?
If you’ve had the chance to talk to me about M&A or about the sale of my LSP , you’ll likely have heard me say that I never got emotionally attached to my business, but I was heavily emotionally invested.
Why the distinction?
As a business owner, many of us refer to our business as our “baby”. We want it’s well-being, we watch it grow, etc…
This reflects to me that you’re emotionally attached to it, which in turn implies your decisions will be influenced by the notion of being “attached” to your business.
Being emotionally invested on the other hand ensures that while you’re putting in the effort, you realize that it’s an entity separate from you. You can thus take decisions in the best interest of the business and not “your” best interest.
This shift in mindset was super helpful when selling my LSP, because I didn’t emotionally evaluate or inflate the value of my business based on how much I “loved” it. It was based on data, which is exactly how the other parties will evaluate it.
This and other small mindset shifts are worth gold . If you’re seeking for help with eventually existing your business, or selling down the road, you need to ensure you’re set up to do it. I can help get you there. DM me!
Remember there’s a wealth of things that need to be done, but it starts with a mindset shift.
If you’re a connection and we haven’t spoken – reach out!