It's clear you want this deal to go through and yes, there are some ways to speed up discussions. But before reviewing deal status, let's first focus on your own mindset and the health of your company. Both need some re-tooling.

For starters, you and only you, control your company's destiny! No potential buyer has the right to influence your company's operations until they own a majority or controlling interest in your company. If they want to change your company's operating focus, let them do it after you've cashed the big check, not before. Sophisticated buyers know that the more emotionally and financially dependent a seller is on a potential deal, the lower the final price paid for a business.

So what do you do next? Renew all projects and get back to business as usual. Get your cash flow back, get your company's momentum back and get your own head back into your company's operations. Don't wait another minute!

It's also time to reassure your employees to avoid a key employee exodus. Your employees have probably wondered about the declining work load and assumed your business just isn't doing well. Inspire them to believe again in your company's future.

The disheartening truth to ever-optimistic business builders is most deals just don't happen. There are too many corporate middle managers who like to talk deals, but few have the fire power and authority to get one done. Taking fast action to restore your company's health won't kill good deals with serious buyers. Actually, it's better to kill a potential deal than kill your company during the "let's date phase" of deal making.

Your next action step is to get out of deal limbo. Call the company (no emails) to advise that you'd like a "term sheet" or a written proposal of primary deal terms. Most companies can produce a formal term sheet in less than 10 days, that is, if they are really interested in your business.

There are other tactical advantages of terms sheets. If the company responds without delay, the document clarifies what it might be willing to pay for your business. If the terms aren't reasonable or they give excuses of why they can't get one together on a timely basis, then move on. Don't spend any more time on it.

Selling a business should be an entrepreneur's finest hour. Taking charge of this important transaction is all about (i) not allowing buyers to take advantage during the process and (ii) not accepting an unacceptable deal, just because you've invested a lot of time.

When the time is right to sell, you can increase your opportunity to get the highest possible price by talking to several competing buyers at the same time. In the meantime, be patient, work hard and visualize your own entrepreneurial greatness again.