How Business Buyers Can Plan for a Successful Transition
Is a smooth transition possible when acquiring a business?
Opinions expressed by Entrepreneur contributors are their own.
Q: I've started talks with a company's original owner to acquire her business. How do I make sure my first days as the new owner go … well, is smoothly asking too much?
A: Ah, the first-time buyer. After talks get going, there's always that day when you wake up and say, "Oh yeah, I'll need to run this place." A smooth transition isn't too much to ask for--as long as you start working toward it early in the acquisition process. Your most important tools for a better Day One? A strong transition plan and the wisdom of the company's original owner.
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, get access to a ton of exclusive content and resources that will help grow your entrepreneurial mindset. You’ll find:
- Exclusive content from our network of today’s leading CEOs and business strategists
- Receive our flagship Entrepreneur Magazine - free!
- No more ads, and get access to the Entrepreneur+ homepage
- Free E-books written by our staff and other industry thought leaders