Navigating the Emotional Journey of Selling Your Business with Denise Logan

THE BOLT Podcast

In this powerful episode, Denise Logan opens up about the emotional complexities of business exits, drawing from her own experience of struggling to leave a thriving practice. A former mental health professional and law firm founder, Denise reveals the raw, unsanitized truth of her journey, including a moment when she contemplated crashing her car to create a crisis that would justify her departure. She frames business transitions as emotional journeys, comparable to empty nesting, and emphasizes that entrepreneurs must address the deeper needs beyond money, such as structure, identity, and belonging, before deciding to exit. Denise's candid story and lessons learned, including her five-year RV adventure post-sale, offer transformative insights on navigating the profound personal shift of leaving a business, all while staying true to one's own path, even when it doesn't align with societal expectations.

Episode Highlights:

• Facing the inevitable truth that all entrepreneurs will eventually leave their businesses
• Understanding business exits as emotional transitions, not just financial transactions
• Recognizing the many needs work fulfills beyond money, from structure to self-worth
• Identifying at least 15 distinct benefits of business ownership to prepare for post-exit life
• Learning from Denise's personal "choppy exit" from her successful law firm
• Challenging conventional definitions of success that focus solely on money and scale
• Applying Jonathan Fields' concept of balancing market, product, and maker (you)
• Creating strategies to meet fundamental needs outside your business before selling
• Understanding how transitions trigger existential questions and identity challenges
• Avoiding the "social pegging" trap of defining yourself by how you earn money

Denise Logan's Bio

Denise Logan is the author of The Seller’s Journey and an expert on the emotional challenges business owners face when selling their companies. With a background as a lawyer, mental health professional, and business owner, Denise helps entrepreneurs navigate the complex emotional obstacles of business transitions. Drawing from her experience speaking to over 500 audiences globally, she provides key strategies to ensure a successful, regret-free business sale for both owners and advisors.

• https://www.linkedin.com/in/deniselogan
• www.deniselogan.com

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Chapters

1. Navigating the Emotional Journey of Selling Your Business with Denise Logan (00:00:00)

2. Introduction to Denise Logan and Her Journey (00:00:46)

3. The Inevitable Business Exit: When, Not If (00:02:00)

4. From Lawyer to Mental Health Professional to Business Exit Expert (00:03:14)

5. The Impact of Early Life Experiences on Entrepreneurship (00:04:23)

6. Creating Mini Crises: The Road to Realizing It's Time to Exit (00:10:00)

7. A Choppy Exit: Lessons Learned from an Abrupt Business Sale (00:15:00)

8. How to Navigate the Emotional Toll of Selling Your Business (00:18:30)

9. The Power of Personal Reflection in Times of Transition (00:19:40)

10. Success Is Personal: Defining Success Beyond Money (00:25:10)

11. The Emotional and Physical Needs We Get from Work (00:33:20)

12. The Importance of Preparing for the 'What’s Next' After Selling Your Business (00:40:10)

13. Navigating the Social Challenge of 'What Do You Do?' After Transition (00:54:50)

14. The Seller’s Journey: Tools and Resources for a Smooth Exit (00:57:20)

15. Conclusion: Embracing the Journey of Transformation (00:59:30)