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About to sell my business

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oneyear:
I've written (not posted) and deleted this topic 4 times over the past 8 months. Each time I've stopped for fear of the "what-if it doesn't happen" coming back to punch me in the face. It did, each time. So in any given deal, the process of selling a business is a stressful rollercoaster. Throw in COVID for good measure and it puts this rollercoaster into hyperdrive. We were due to complete the sale of our business 8 weeks ago. It was so close we were sitting in the lawyers office awaiting the contracts to come in to sign. Then the very same morning lockdown began rolling out. Everything was thrown out the window.

At the very same time of stressing about business and the scores of people we employ, the deal was pulled. I'll not lie, it was the most stressful week or two Ive ever encountered. My daily walk usually concluded with tears of worry. I stopped sleeping well and the panic that many of us felt never left me, day or night.

I am ever the pragmatist and know this time will pass, but not knowing the answers is one thing. Not even knowing the question is something entirely different. Especially when many people and their families are looking to you for answers. If we all came out of this time healthy that was the big win in my opinion.

From a FIRE perspective, I saw a 30% drop in our investments. This drop alone was a life changing sum by anyones standards. But when I readjusted to our budget COVID spend rate it still covered everything and more. Regardless of what-happened financially we'd be ok. Home paid off, a good cash reserve and no need to touch our investments.

I'd completely forgotten about the deal 4 weeks in, this was business preservation mode. By week 6 I like many entrepreneurs started looking for the opportunity this time presents (of which there will be many) and created a whole new service to assist the organisations we work with navigate this time as responsible employers. We are going to be aggressive in our marketing and come out of this time stronger and more efficient. Though not without struggle.

Anyway, fast forward to this week and I got a call from our prospective buyer. "It's time to push forward". I was floored. I'd discounted the fact that we are a big opportunity for their business and all things aside, now is of course the right time to take action. Awaiting contracts in coming days and this really might happen...First time I've allowed myself to think that, as I'm very much of the "A deal isn't complete until the money is in the bank" train of thought.

I obviously can't share this with anyone I know irl. I'm trying not to get excited, but this has been 15 years in the making.

lemanfan:
Congratulations on taking the next step!

 I've some sort of similar experiences posted elsewhere in this subforum, and it is truly a mental rollercoster.  Or was for me. 

oneyear:

--- Quote from: lemanfan on May 10, 2020, 02:27:42 AM ---Congratulations on taking the next step!

 I've some sort of similar experiences posted elsewhere in this subforum, and it is truly a mental rollercoster.  Or was for me.

--- End quote ---

I'll go search :) Yeah you couldn't have too many goes on this rollercoaster tbf. Mentally draining.

Im hoping things move fast this week, but going by the past 8 months, it'll be at a snails pace.

blue_green_sparks:
Can't speak for everyone...I left my career in the rearview mirror over a year ago and had so many concerns. Today I can barely remember what they even were. 90% of my cellphone contacts are just a waste of memory space. Things that were so important have faded away. Life fills a vacuum pretty quickly and I like it.

oneyear:

--- Quote from: blue_green_sparks on May 10, 2020, 05:58:38 AM ---Can't speak for everyone...I left my career in the rearview mirror over a year ago and had so many concerns. Today I can barely remember what they even were. 90% of my cellphone contacts are just a waste of memory space. Things that were so important have faded away. Life fills a vacuum pretty quickly and I like it.

--- End quote ---
This is what I like to hear. My business and I have been inextricably linked. The only way out of it is to pass the reigns on, otherwise I'll be there forever. Im nervous of what this week might bring but incredibly excited

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