Successful Transition out of the Business

In the past week I connected with a business owner who has for the past eight years operated a successful business in the Allied Health space and has signed a contract to sell the business.

The business owner wished to have a conversation about how to ensure a successful transition of the business to the new owners.

The key points to come out of the conversation for my client to action were as follows:

  •  Establish a schedule of meetings with the new owners both in the period leading up to settlement and after settlement
  •  The agenda for the meetings leading up to settlement will cover topics such as:

               The content  for & timing of communicating with the team, the clients, the suppliers, and other stakeholders about the sale

                The terms of employment for my client, who will continue to work in the business after settlement

                Define the role & responsibilities of my client after settlement

                 Keep the new owners updated about the ongoing trading of the business

                 The terms under which the new owners can be at the business to observe and learn about how it operates

  • The intention of the meetings after the settlement date is to provide an opportunity for the new owners to tap into the knowledge of my client to assist them with the day to day running of the business.

Dare to Connect

Are you ready to re-discover your passion, re-align your actions, and create a business that supports the life to which you truly aspire? Contact me for a no-obligation discussion on how I will work with you to make this a reality.

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