Should you choose to sell your business, one of the considerations you’ll want to make well in advance of exiting your business is whether you’re going to help your customers through the transition.
For some business owners, how their customers respond to the sale isn’t a priority. If you’re going into a different industry or you’re getting out of business altogether and retiring, then your customers may not be a significant concern. That’s the new owner’s problem.
However, if you’ve become attached to your customers or if you want to maintain a good reputation in your industry, then what your customers experience may impact you. Assuming you want to take care of your customers through the transfer of ownership, there are a few things you can do.
1. Introduce the potential new owner
If you know the prospective owner, you might ask them to get involved in the business before the final sale. Introduce them on your social media pages. Partner with them to create an information product that you give away for free. Invite them to become a guest writer on your site. In short, allow your customers to get to know their new owner before the announcement.
2. Send a personal message
Another step you can take is to draft a personal email or two, announcing your sale of the company. You can use the time to thank your customers for their contributions and to introduce the new owner in a positive and productive way. It might also be a great time to introduce a special promotional offer or giveaway. This helps customers feel positive about the pending changes.
3. Stick around
If your new owner is amenable to it, you might slowly wean yourself from the business and the customer interactions. Let customers know that you’ll be around for a few months and gradually reduce your workload. Let the new owner take over and be there to answer any questions that they have.
Remember that you don’t have to take these extra steps when you sell your business. However, it’s a nice way to help the new owner transition successfully and to make sure your customers are well taken care of.
If you are interested in exploring a merger or sales opportunity, please contact me, I am always on the lookout. We can have an 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.