You’ve probably got a lot to teach, more so if you have been at the helm of your business for quite some time. There are several ways that people learn skills. Much of the knowledge they have and use will be based around formal education. But what comes after?

The skills that you can pass down. During any business owners journey, and those that step into the shoes of that business owner, a lot of learning happens.

The best way to teach skills, to pass down the ‘how to’s’ of your business is to integrate them into everything. Your successor will be highly qualified already, but they won’t know that on the second Thursday of every month Janet from HR needs to leave early.

It is the small intricacies that make your business what it is, and when it is time for a business owner to move on, The DVS Group and some patience is going to be essential.

Skill Improvement

Everyone can be better at what they do and how they do it. It is just a fact. But even the business owners and CEOs must understand there is more to learn. Part of you handing down those skills is ensuring that your successor appreciates that there is always more to learn. This goes for a person of any age. The belief that skills can be improved and built on isn’t always innate, but it is something that can be taught – ironically enough.

Formal and Informal

If you are selling your business, and it has been purchased by a smaller owner – rather than a larger corporation, there are a lot of ways to handle that. The formal meetings should all be done with the necessary lawyers, and/or a management group. They will ensure you get the best deal, and that everything goes smoothly.

But you probably want to know this person a little bit more. Which is why coffee or dinner is imperative. It allows you to understand more about why they purchased the business and their future plans. Although they won’t impact you directly, it will impact retained staff.

Show Them

Some people learn by being told, others need to learn by doing. The hands-on approach is what makes an impact on them. Being shown how to do something might seem like such a fundamental piece of teaching skills, but by taking a walk around the business premises, and having them in on numerous meetings, you’re showing them the general flow here.

Change

This is more about you. There are going to changes that you may not have made. This is because fresh eyes can see fresh opportunities. A way to speed up a particular process, a more modern technology, new methods. When you hand over the reins, and the new owner takes charge, there will be changes that you probably won’t like. Accept that after you leave your business, there will be changes that shape it into something different.

Selling your business, and handing the keys to someone new can be daunting, but choosing the right person, and having a great team can help you have a smooth transition.