Once the assignment or transmission is finalized, and the desired amount of money has been received, it is important to know that you are not completely released from your responsibilities. All is not over! In most cases of transmission, sellers have several tasks to perform and sometimes they must remain involved in different ways.
During the transition period, sellersmust interact with those around them: bankers, suppliers, employees, etc. They may have to settle certain terms and conditions surrounding the sale (the monitoring of guarantees, negotiation and the current contract). They must also naturally offer the security of the continuity of the business.
If the sale price includes a price supplement based on profit and future achievements, the sellers must ensure that their interests are defended.
Planning on your investment options for the proceeds of the sale is also very important. This involves significant management, reflection, and strategies to be developed. Make sure you are well supported to optimize this phase.
Ultimately, the sale of your business and the loss of your leadership status can often prove to be a difficult experience to overcomeat a personal level. Make sure you have new activities and new projects ahead to help you adjust to your new situation.
Mergex is your trusted firm specializing in BusinessMergers and Acquisitions. Contact us for sustained support.