How To Prepare Your Team For The Exit
Business Zone discusses preparing your team for the process of selling the business. Do you even disclose to them that the business is for sale? And if you do, how best do you manage the team through the process?
In most service businesses, the value of the business is in the team. And in every business, having a team that is motivated, well-trained and loyal will increase both the profitability and the capital value of the company.
Getting the team ready for an exit has two objectives. First, it’s about creating a team that runs like clockwork, so that the new owner can simply step in and take over with a minimum of fuss. But one thing that entrepren
eurs who have already been through the process will tell you is that you also need that team to be in shape well before you exit.