Trio Business Intermediaries Blog

Soon to be taking on a new business or an active part in an existing operation?

Some of the issues you may want to consider to make the new regime flow well:

• Talk, communicate, chat, email, liaise, - keep everyone feeling as though they’re informed and part of things

• Ensure everyone knows the basics – where the offices will be, where to park and how to get there, who’s moving where and when

• How any surplus team members will be deployed

• Clear responsibility for maintaining client contacts and ensuring they don’t even notice things have changed

• Another group need to be responsible for ensuring suppliers are on top of the changes and ready to integrate new locations or systems

• Who is mission-critical and what is being done to retain them?

• Any disparities between terms of employment, bonuses or perks

Even if you’re not thinking of selling or inviting investment into the business take a few minutes to think about how you would fare if your business was subject to a due diligence review.

• Would your systems sustain your absence and the anticipated growth in activity?

• Would a history of strong financial management be evident?

• Can you demonstrate continued growth as well as opportunities for the new owners?

• Tax returns are considered second prize to an audit as they are third party verification; got those all sorted?

• From a buyer / investor’s perspective does everything in the business scream ‘under control’ – marketing, operations, finance?