Development of transition strategies in the process of buying and selling business
The sale of business between the current and the new owner is an important step that needs to be addressed with special considerations. If the transition strategy is critical to the company, it should be comprehensive and detailed.
Part of strategies of proven effectiveness are:
1. Identify key employees of the company at the beginning of the process and communicate the reasons for the sale.
2. Develop, careful and timely, announcements of transition to employees, customers and suppliers in the process for the sale of the company. Inform you that the business will operate in the usual way and even better under the direction of the new owner.
3. The output of the previous owner of the business plan, will make you that active remains in the business for a period of time, showing support and trust to the new owner.
4. Minimize changes as often as possible, for a period of time. If change is inevitable, notify the reasons and motives, the impact and duration.
With careful planning and execution, the majority of companies completed the transition without problems.