How Do I Create a Smooth Transition When Buying a Business?

When you buy a business, a smooth transition should be one of your top priorities.

• Consider asking the previous owner to stay on after the sale. The owner can serve as an advisor or consultant for a predetermined period of time and can teach you how to run the business.
• Sit down and talk with your new staff as well. They can also become your advisors. Only after you are intimately familiar with your new business, should you begin to make changes.