Hiring Someone to Implement Your Exit Plan

There are many uses for a virtual assistant. Some assistants are skilled managers. They can take a large project, for example planning and implementing an exit strategy, and manage the process with relative ease.

If you’re considering selling your business to another person or you are going to merge the existing business into a new one, a skilled virtual assistant may be your biggest asset. Let’s take a look at what they can do for you and how to maximise their skills and knowledge.

Step one: Information

The first step is to sit down with your virtual assistant and let them know what your plan is. For example, let’s assume you’re going to sell your business. You’d want the assistant to know everything that there is to know about your business, including your systems and processes. Where are all the documents located for using your autoresponder? What does your sales process look like? Where is your marketing plan?

Step two: Documentation and filling in the gaps

Your virtual assistant should be able to move through all of the processes and determine where documentation is needed, where it should be updated, and where there are any potential gaps. You may need to implement new systems and use updated technologies to make the sale of your business more profitable and to make the transition go more smoothly.

Keep in mind that your assistant should look at the processes from the customers’ point of view as well as an administrative and managerial look at the behind-the-scenes systems. If you’re repurposing an old business and merging it with a new one, your virtual assistant can manage the process. They can oversee any content repurposing, technology updates, and other projects to help migrate your old business over.

Step three: An action plan

You, the buyer, and your assistant can come up with an action plan for transitioning the business. You may need to let customers know about the change in ownership which can require a bit of extra customer service work. Your VA can take care of that for you.

Hiring a skilled virtual assistant can take the burden off of selling your business. Often when a business is sold, the original owner stays on for some time to help smooth the transition. You’re there to answer questions from both the new owner and the customers.

With a virtual assistant, you don’t need to spend your new-found time holding anyone’s hand. Additionally, your buyer may greatly appreciate the third party help as they take over your business. It can be a win-win for everyone.

Because an exit plan can be overwhelming and time consuming, it’s important to create a series of logical and organised steps. That way you ensure that no steps are missed and that your goals and objectives are met. Let’s take a look at that next; creating your exit plan steps.

<= Back to "How To Create An Exit Plan For Your Business" series

If you are interested in exploring a merger or sales opportunity, please contact me, I am always on the lookout. We can have a no obligation chat about your business to see if there’s a way for us to work together, or I can look into my contacts to see if I can connect you with anyone that would be better suited to help you.

Elyse Burns-Hill

View posts by Elyse Burns-Hill
Elyse is passionate about business.

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