Controlling is an effective tool for the active management of the company future. However, its implementation and enforcement is a long-term, demanding and complex process that is specific and inimitable for each business. This process is influenced by psychological factors that evoke positive and negative feelings among internal interest groups (owners, managers, employees). The aim of the paper was to identify the most important financial and non-financial benefits and barriers of controlling from the point of view of business owners and the key psychological factors and feelings that enter into the process of implementing this tool into practice. Mapping of the solved issue was carried out through empirical survey via questionnaire in practice of Slovak companies. The results of the research were evaluated via descriptive and graphical methods. Based on the findings, a concept was drawn up that points to the key psychological factors of controlling affecting business owners. The proposed concept could be beneficial to business owners in trying to eliminate the negative and evoke positive emotions in the process of implemtation and enforcement of controlling into the practice, thus ensuring that controlling is fully functional, it means to be accepted by all internal interest groups of the company.