The certain questions can make the weeks and months leading up to a sale stressful for anyone closely connected to the company. You can ensure your strategy is a proven asset to the business rather than just a line item on a list of operating expenses reviewed by a prospective buyer.
- Train your staff: A well-trained employee is an engaged employee.
- Promote from within: Promoting from within also naturally enhances the opportunity for continual training since your most skilled, knowledgeable, and experienced employees will be in the position necessary to facilitate training of newer team members who need further development.
- Encourage feedback and open communication: A business owner who does not seek honest feedback from employees is bound to develop a dangerous level of tunnel vision.
- Keep your team informed: From the moment you decide to move forward with putting the company on the market to the day the deal closes, do everything in your power to keep your team informed and up-to-date on the progress of the situation.
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