Selling your small business is more than a financial transaction – it’s an emotional journey. A business owner who’s been through that ordeal knows the feelings that arise: identity loss, the overwhelming urge to just “get it done,” and excitement mixed with anxiety.
I’ve written about these emotions that pop up during the process of selling your business before. Today I want to offer a strategy to help you navigate them: William Bridges’ transition model from his 2009 book, Managing Transitions: Making the Most of Change.
Bridges teaches us that it’s not the change that gets you – it’s the transition. Change is external, like selling your business. Transition is internal, the psychological and emotional process you experience as you let go of the old and embrace the new.
Bridges breaks this process into three parts, which I like to think of as:
Leaving Egypt (Endings)
This is where it all starts – with letting go. Maybe you’re saying goodbye to a business that’s been your identity, your livelihood, your community. It’s bittersweet. You’re not just selling a business; you’re leaving behind routines, relationships, and a sense of self. If you need inspiration and maybe a smile, listen to a recording of the famous song from Frozen, “Let it go” performed by Idina Menzel. Pure genius.
Wandering in the Desert (The Neutral Zone)
This is the messy middle – the in-between time when the sale is final, but you haven’t yet settled into your next chapter. You might feel untethered, unsure of your path. It’s uncomfortable, but it’s also a time of tremendous growth and discovery if you let it be. One of the key points Bridges makes is that you don’t know how long this phase will last and you need to be patient. Key point: you have to be okay with feeling uncomfortable.
Finding the Promised Land (New Beginnings)
Finally, you step into the next phase. Maybe you’re starting a new venture, diving into a long-awaited retirement, or redefining your purpose. This is where you reclaim excitement and direction, finding clarity in the opportunities ahead.
Bridges’ main point for this phase is the best way to get through the desert is to make the image of your promised land vivid, clear, and emotional. I recommend the terrific article by Lily Bradshaw on Sixty and Me about creating the life you dream of.
Understanding these stages can help you manage the emotions that come with selling your business. Instead of resisting the process, you can embrace it, knowing that every ending leads to a new beginning – even if it means some wandering along the way.
If this resonates, I highly recommend reading Managing Transitions by William Bridges. His insights provide a framework for navigating the transitions in your life, including selling a business.
Let’s Have a Conversation:
What stage of transition are you in right now? How do you feel about it?Drop your thoughts in the comments – I’d love to hear about your journey.
