Accounting firms like Margarit s will send in people on a temporary basis. She also recommends using an accounting software program, such as QuickBooks or Peachtree Accounting, which can be much less expensive than hiring an accountant full-time. In the more abstract arena there s the idea of prepping employees for a possible sale. The management team is way out in front of the employees because they ve been dealing with aspects of the sale from the beginning. Others in the company are strung out in the process, while others are just getting started.
People have to adjust to change through a defined process.
While many experts suggest keeping a potential sale under wraps, Straw believes employees at all levels need to be involved with the sale. So, in addition to all of the time consuming due diligence issues she and others in senior management dealt with prior to Carlson s sale this summer, Straw oversaw an employee training course on handling change. Then, when they come to sell the business, the buyers, particularly Silicon Valley companies, can t understand why these agreements aren t in place, and it makes it very difficult. There are very few companies around today that were started 100 years ago. Change is inevitable.