What to Tell Customers When Selling Your Business | Inc. 5000

"Selling a business can be a complicated process. But don't forget about your customers--the people who will continue to patronize the business after you're long gone.

A business sale is one of the most difficult transitions in the life of a company. As the seller, it is critical to help guide your customers through the transition, and to provide reasons for them to remain with the business. This is obviously true if you have a financial stake in the company after the deal closes (if you're financing part of the sale, for instance), however, it's also true if you don't have any direct financial motivation. Why? Simple: it's the right thing to do for the customers, it's the right thing to do for the new owner, and it's the right thing to do for your reputation.

As with your employees, professional and clear communication is the key to successfully guiding your customers through the business-ownership transition process. By carefully and strategically informing clients (especially the more valuable ones) about the sale and building their confidence in what lies ahead, you will help them make good choices, help the new owner succeed and, in so doing, continue to build your reputation."

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.