How Your Exit Strategy Impacts Your Online Reputation

When you leave your business for retirement, you may not have much to worry about. Your online reputation doesn’t matter because you’re not depending on it for income. However, if you are exiting your business to move onto a new venture or opportunity, it can be important to make sure your online reputation is protected.

1. Selling your business

If you’re selling your business, take the time to make both the customers and the new owner feel safe and secure with the change. Take an active role in the transition. It’s also important to make sure that you’re selling the business to someone who will continue to put the customers first and grow the business in a positive way. Like it or not, your reputation may be attached to the new owner for a little while.

2. Merging the business

If you decide to merge the business with a new venture, it’s important to make sure you’re honoring your agreements. For example, if you have a partner you’ll want to make sure they’re compensated for their portion of the business. If you have affiliates, you’ll want to give them the opportunity to move with you to the new business and still pay commissions on sales from the old business.

3. Customers matter

Whether you close the business outright or sell it, put the customer first. During this time customer service is critically important. Unhappy customers can take to social media and destroy your reputation. This makes it incredibly difficult to start anything new.

Finally, a word on content. Make sure that any content you repurpose or sell retains a high level of integrity and quality. Your name is still attached to the content and inaccuracies or infringements can negatively impact your reputation.

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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.

Elyse Burns-Hill

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

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