After You Close the Deal

professional profile

April 20, 2021

by a professional from Central Washington University in Everett, WA, USA

Once you've acquired a company, what is your #1 concern?
- How to manage your customer base?
- Deciding whether to keep the current staff or bring in new?
- How to help the current employees navigate the transition?
- Other: please share....

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Reply by a professional
from University of Canterbury in Houston, TX, USA
If you are buying a services business, the number one concern should be the retention and ongoing engagement of employees. Close behind that is the retention of key customers. The critical risks are almost certainly operational, rather than legal or accounting-related. Communication with employees, customers and other stakeholders is critical... your focus in the first 30 days should be to 'stabilize' the business, avoiding any unnecessary losses of personnel or revenue. If you're contemplating buying a business, find someone who's acquired a similar business and can share their insight.
commentor profile
Reply by a professional
from University of Southern California in North Palm Beach, FL, USA
Be sure to confer with your lawyer and accountant about the kinds of issues they've seen go wrong for the kind and size of company you're going to acquire.. That kind of specificity is way more valuable than checklists that try to cover the kitchen sink of possibilities.
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