Without question, the final announcement and its response can be the single most unexpected aspect of the sale. In my case, the support and encouragement were apparent. Have your “ducks in a row;” a well thought out and detailed announcement is essential. A qualified leader and strong voice is needed for the continued success of the organization.
While this is an emotional transition for most owners, it comes down to developing the foundation for a confident conclusion. Due diligence begins long before the deal is struck. It begins with “the dance” between buyer and seller. The seller’s primary goal is to find a qualified buyer, and a safe harbor for his company going forward. The most difficult aspect is in the need for secrecy among all parties.
In the role of manager, we are often also teachers and parents. There is always the potential of giving too much. What happens when we cannot live up to the standards we have set? Mangers regularly sell their soul in order to meet these excessive demands. Technology and multi tasking is not worth losing the critical balance in ones life. Save yourself first, and your team will benefit.
The two greatest qualities in one business career are initiative and ambition. Those with initiative understand the big picture, and are a step ahead of the needs of the organization as a whole. Their indispensable value is always rewarded. Positive ambition suggests sensitivity to ones surroundings and those of their peers. Those who are ambitious are the ultimate over achievers. It is time to address these issues in the hiring process. On an ongoing basis we must continue to acknowledge, reward and promote those individuals with initiative and a positive sense of ambition.
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