Negotiating seems to be a rational game. Two parties, each with an interest, come to a price and conditions together. However, the reality is quite different, especially for entrepreneurs who sell their business. It's not just about numbers, but also about recognition, saying goodbye and trust.
Many entrepreneurs experience this phase as the toughest of the entire sales process. Not because it's so technically complicated, but because emotions take over. Disappointment, frustration, pride and even doubt come along. How do you deal with that?
Your company is often more than a source of income. It is a life's work. You've invested years in it, weathered tough times, and celebrated successes. The company is a symbol of who you are as an entrepreneur.
When a buyer questions the value or asks critical questions during negotiations, it sometimes feels like an attack on your performance or identity. Even when it's not meant to be.
In addition, uncertainty plays a role: what happens after the sale? How does the buyer interact with your employees? What does this mean for your own future?
Many entrepreneurs want a higher price than the market justifies. Not because the numbers support it, but because it should “feel that way”. This can lead to unrealistic expectations and stalled conversations.
When a buyer says during negotiations: “We see this risk as a problem”, entrepreneurs experience this as a lack of recognition. The reflex is often to be defensive.
Sometimes the entrepreneur wants to maintain control during negotiations. For example, by setting strict requirements for the future course. That can deter potential buyers.
On the other hand, there are entrepreneurs who find the process so difficult that they agree faster than is good for them. Out of tiredness or just to get ready.
Emotions can positively or negatively influence the outcome of a deal. On the negative side, you often see that emotions lead to distrust, escalation or even the cancellation of a deal. But emotions can also play a connecting role.
An entrepreneur who shares his passion and story can actually enthuse a buyer. Trust, rewards and personal click often play at least as important a role as the numbers.
In addition to price and terms, negotiation is ultimately about trust. As an entrepreneur, you need to feel that the buyer deals carefully with your company and employees. Otherwise, you will be stuck in the resistance.
That trust comes from openness and honesty on both sides. A buyer who communicates transparently builds a relationship more quickly. An entrepreneur who is honest about business challenges prevents disappointments later in the process.
In addition to the business side, personal preparation is also required. Think about questions like:
By getting clarity about this beforehand, you are less vulnerable in the moment itself.
Negotiating is never just a matter of numbers. It is a process where emotions inevitably play a role. The better you are aware of this, the stronger you are. With preparation, reflection and the right support, you can prevent emotions from getting in the way of the deal and use them to your advantage.
Do you want to learn how to negotiate the sale of your company more strongly and with more confidence?
👉 Sign up for the BestBonobos beta and learn how our platform guides entrepreneurs through every step of the sales process, including the most emotionally challenging phases.
📩 Sign up for a beta? Fill out the form at the bottom of this page. ✅ 🚀
Soon, we expect to start with a limited group of users who can test the platform. You get full functionality and give us feedback. In return, you'll soon be able to use our platform for free for six months! Feel free to sign up now to be kept up to date. You will then receive an invitation in due course:
