Summary of Preparing for Ownership

So far you have covered a wide range of material including:

  1. The importance of a Shareholder Agreement
  2. Goals and Priorities
  3. The Human Resource role of a small business owner
  4. The opportunity to use Corporate Social Responsibility to enhance recruitment and retention
  5. The need for a high level of competency among employees
  6. The various roles a small business owner has
  7. The need to forecast future skill needs
  8. The importance of Best Practices

Rock drum. (9 September 2012). Wmuk board meeting september 2012 - St Mary's Guildhall 2. Retrieved from's_Guildhall_2.JPG [CC BY-SA 3.0 (], via Wikimedia Commons

Rock drum. (9 September 2012). Wmuk board meeting september 2012 – St Mary’s Guildhall 2. Retrieved from’s_Guildhall_2.JPG. CC BY-SA 3.0, via Wikimedia Commons

Take your time to review and follow the links provided in Preparing for Ownership before beginning Preparing to Transfer Working Knowledge.

In Preparing to Transfer Working Knowledge, you will focus on communications with the existing owner, developing a timeline prior to a sale, assessing employee skills, overcoming challenges, understanding limitations and critical thinking. Also included in Preparing to Transfer Working Knowledge is knowledge management, succession planning, mentoring, and knowledge building.

In the Seller section is a complementary module for the potential seller, Preparing to Transfer Working Knowledge.  An astute buyer will want to know exactly what an informed seller needs to know. Consider spending the time to engage with that section as well.