Preparing to Transfer Working Knowledge

Andre Freitas. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1418479631014-8cbf89db3431?q=75&fm=jpg&s=478a9a2196033db7c0bf3c8ba3707f4d. Creative Commons Zero

Andre Freitas. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1418479631014-8cbf89db3431?q=75&fm=jpg&s=478a9a2196033db7c0bf3c8ba3707f4d. Creative Commons Zero

Overview

Welcome to Preparing to Transfer Working Knowledge, the final module created to help you to sell your enterprise. So far in the Sellers section, you have explored the following:

  1. Looking at market share.
  2. Reviewing contracts, leases and agreements.
  3. Assessing the experience of the key employees.
  4. Understanding buy/sell agreements.
  5. Establishing your goals and priorities for the business.
  6. Considering the value of a broker.
  7. Developing a “dream deal” that would be acceptable.
  8. Determining the most likely sales price of the business.

Learning Outcomes

By the end of Preparing to Transfer Working Knowledge, you should be able to:

  1. Provide a timeline and communication path with a potential purchaser.
  2. Develop an inventory of skills of your key employees.
  3. Identify skills unique to the owner and create a plan to transfer the skills to employees or the purchaser.
  4. Document key aspects of the business and review them with the purchaser.
  5. Communicate any financial support available from the seller.
  6. Identify a succession leadership development plan for current employees.
  7. Facilitate relationships between experienced and inexperienced workers.
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