How critical is it to meet some employees prior to signing?

by a searcher from Harvard University - Harvard Business School

4 years ago

I have a signed LOI with the seller, and was hoping to meet her right hand person.  This is a small team (7 people) so any changes will be quite disruptive.  She doesn't want to alarm any employees until the PS agreement is signed.  

I'm curious what others' views are on this and how hard I should push on this point.  

9 likes
333 views
23 comments

intermediary

I think the timing of employee introductions depends on whether or not the employees know the business is for sale. If they do know, discuss it with the owner. If they do not know and with such a small staff, losing a couple of key employees could ruin the business. Meeting key employees without a binding commitment is a big ask. You are asking the seller to risk their livelihood so you can save a few bucks on due diligence. In either case, communication is the key.

5 months ago | like reply | 0 likes

professional from East Carolina University - College of Business

I agree with ^Searchfunder member‌. Having the right people,, chemistry, and buy-in to your vision is essential.

7 months ago | like reply | 0 likes

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