The Emotional Rollercoaster of Selling Your Business

About the Episode

Nate Pratt, a financial services wealth advisor, discusses the emotional journey of selling a business. He highlights the importance of cultural alignment, focusing on retaining the top talent in a company, and the long-term impact of an acquisition on the business’s teams and clients. Nate notes that successful sellers start early, educate themselves, and share their passion and enthusiasm with potential buyers. Nate also stresses the need to be honest about the motivation to sell and to prepare emotionally.

“Enthusiasm is something that is critical to any company’s success.”

Nate Pratt

What You’ll Learn

• Start the M&A process early and educate yourself: The earlier you start exploring a potential sale or partnership, the better prepared you’ll be to navigate the emotional and practical aspects.
• Cultural alignment is critical for long-term success: Ensuring a strong cultural fit between the buyer and seller is key for retaining talent, satisfying clients, and building a successful partnership.
• Transparency and trust are the foundations of effective M&A: Open communication, transparency, and building trust throughout the process are essential for overcoming challenges and achieving a positive outcome.
• Emotional preparedness is just as important as financial preparedness: Sellers need to be emotionally ready for the significant changes and personal impact that come with selling a business they’ve built.
• Investing in future growth can maximize your company’s value: Demonstrating a commitment to continued growth and development can make your business more attractive to potential buyers.

Topics Covered

Want More? Related Resources: 

• Informing & Retaining Employees When Selling a Business
• Why is Selling a Business so Hard?
• M&A Negotiating Tactic #1 – Honesty

Meet Our Guest

Nate Pratt

Vice President of Corporate Development, OneDigital | Charlotte, NC

Nate Pratt helps lead OneDigital’s M&A among Retirement and Wealth Advisory practices across North America. Prior to joining OneDigital, Nate was the VP and Partner at Strategic Investment Solutions, a $600 billion investment consultant out of San Francisco, and a Regional Director and Vice President at Dimensional Fund Advisors, a $700 billion asset manager out of Austin, Texas.

LinkedIn: https://www.onedigital.com/profile/nate-pratt-cfa/