Taking over.
WHY THIS PERIOD DETERMINES SUCCESS
Customers, staff and suppliers decide whether to stay.
WHAT TO DO FIRST
Tell staff, personally, before they hear elsewhere Tell major customers, personally Tell key suppliers Reassure all three about continuity
WHY PERSONALLY
Impersonal announcements generate anxiety and departure.
WHAT STAFF WANT TO KNOW
Whether their jobs are safe Whether terms are changing Who they report to What you intend
WHAT TO SAY
Honestly, what you know.
WHAT TO AVOID
Promising nothing will change, if it will.
WHY
Broken reassurance destroys trust immediately.
WHAT CUSTOMERS WANT TO KNOW
Whether service continues Whether prices change Who they deal with
WHAT TO DO IN THE FIRST PERIOD
Observe before changing Understand how things actually work Identify who the business depends on Establish the real position
WHY OBSERVE FIRST
Practices that appear inefficient frequently exist for reasons.
HOW LONG TO OBSERVE
Long enough to understand, and not so long that problems persist.
WHAT TO ADDRESS IMMEDIATELY
Safety issues Anything unlawful Anything losing money daily
WHAT TO AVOID
Wholesale change in the first weeks Criticising the previous owner Removing people before understanding their role
WHY CRITICISING THE PREVIOUS OWNER FAILS
Staff and customers were loyal to them.
WHAT TO ESTABLISH
Your own relationships with customers, before the seller leaves.
WHAT TO MONITOR
Customer retention Staff retention Cash
