Practical Guide for Sellers #1
Preparing Your Team for a Business Sale
A step-by-step guide to protect your deal and prepare your people.
Timing & Communication
- Identify when to tell your team (usually after LOI, before due diligence)
- Craft a clear message: explain why you’re selling and what the future holds
- Decide who delivers the message: you, your broker, or jointly with the buyer
Retention & Morale
- Identify key employees whose departure could kill the deal
- Offer stay bonuses or retention plans to keep them on through transition
- Involve managers in planning to build trust and alignment
- Create a written transition plan to reassure the team
Operational Handover
- Document SOPs, roles, client info, and tribal knowledge
- Assign transition roles internally to support buyer onboarding
- Schedule overlap time (if possible) between buyer and key team members
Risk Management
- Prepare a message plan in case of early leaks
- Consider NDAs or confidentiality reminders for leadership
- Monitor morale and address concerns early to prevent talent loss