Selling your business can be a challenging and emotional process. Making sure the succession is smooth for yourself, the buyer, and your employees is a top priority. The following trio of modules will discuss key issues for transferring ownership of your business. Feel free to work through the modules at your own pace. We recommend that you follow the path through the modules as they are presented; however, you are free to jump if there are certain areas of more interest to you.
The Seller’s section of this resource contains three complementary modules and case study. You will see some overlap between the Buyer and Seller sections; however, each trio of modules is specifically targeted to its own audience.
Seller Modules
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Preparing to Sell Your Business
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- Overview
- Examining Business Market Share
- Change of Ownership Considerations
- Non-Disclosure Agreement (NDA)
- Contract and Fiscal responsibilities
- Determining the Value of People Resources
- Financial Considerations
- Recap of Documents for the Buyer
- Summary
- References
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Positioning Your Business for Sale
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- Overview
- Understanding Shareholder Agreements
- Getting Ready to Sell
- The Timeline
- Attributes of the Ideal Purchaser
- Working with Professionals
- Consider an Appropriate Broker to Sell the Business
- Summary
- References
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Preparing to Transfer Working Knowledge
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- Overview
- Assumptions regarding the Seller’s Situation
- Setting Up the Communication Path
- Prepare a Timeline
- Assessing Skills
- Overcoming Challenges
- Succession Leadership Development Plan
- Facilitating Relationships between Experienced and Inexperienced Workers
- Seller Summary
- References
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[callaction url=”http://shift.trubox.ca/wp-content/uploads/sites/30/2015/02/SHIFT_Sellers_section_print.pdf” target=”_blank” background_color=”#337294″ text_color=”#ffffff” button_text=”Download PDF” button_background_color=”#81a844″ button_text_color=”#ffffff!important”]If you would prefer to view the Seller material offline you can download a copy in PDF format.[/callaction]
Image Credits:
- Anna Demianenko. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1427104227401-94b390b378b0?q=75&fm=jpg&w=1080&fit=max&s=36eaf8a793277f034613ae747649ed38. Creative Commons Zero
- Calita Kabir. (2 November 2010). What is needed first-incorporation or EIN?. https://www.flickr.com/photos/irsein/5139847759/ [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Flickr
- Andre Freitas. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1418479631014-8cbf89db3431?q=75&fm=jpg&s=478a9a2196033db7c0bf3c8ba3707f4d. Creative Commons Zero