--- title: Why Support and Training from a Previous Business Owner Puts You in A Great Place to Succeed description: Obtaining support and training from a previous business owner can be very valuable. image: https://www.tworldnorthstar.com/hubfs/Blog_Images/188144335.jpg --- **[![phone](https://www.tworldnorthstar.com/hubfs/2020%20Website/white-phone-solid%20(1).svg "phone")(888) 290-5232](tel:888-%20290-5232)      ![envelope](https://www.tworldnorthstar.com/hubfs/2020%20Website/envelope-solid-white.svg "envelope") [northstar@tworld.com](mailto:northstar@tworld.com)** [![TRANSWORLD-LOGO-2023-2Color-VF-02](https://www.tworldnorthstar.com/hs-fs/hubfs/Tworld%20Logos/TRANSWORLD-LOGO-2023-2Color-VF-02.png?width=1801&height=600&name=TRANSWORLD-LOGO-2023-2Color-VF-02.png "TRANSWORLD-LOGO-2023-2Color-VF-02")](https://www.tworldnorthstar.com/) ![4 Team members](https://www.tworldnorthstar.com/hs-fs/hubfs/2020%20Website/Imagery/4%20Team%20members.jpeg?width=1350&name=4%20Team%20members.jpeg "4 Team members") # Transworld Blog From business brokerage to mergers and acquisitions; we are the business sale specialists. - [buying a business](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [Business Services](https://www.tworldnorthstar.com/blog/topic/business-services) # [Why Support and Training from a Previous Business Owner Puts You in A Great Place to Succeed](https://www.tworldnorthstar.com/blog/why-support-and-training-from-a-previous-business-owner-puts-you-in-a-great-place-to-succeed) [Read More →](https://www.tworldnorthstar.com/blog/why-support-and-training-from-a-previous-business-owner-puts-you-in-a-great-place-to-succeed) - [buying a business](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Case Studies](https://www.tworldnorthstar.com/blog/topic/case-studies) - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fwhy-support-and-training-from-a-previous-business-owner-puts-you-in-a-great-place-to-succeed) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fwhy-support-and-training-from-a-previous-business-owner-puts-you-in-a-great-place-to-succeed) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.tworldnorthstar.com/blog/why-support-and-training-from-a-previous-business-owner-puts-you-in-a-great-place-to-succeed) [All Posts](https://www.tworldnorthstar.com/blog) # Why Support and Training from a Previous Business Owner Puts You in A Great Place to Succeed - [Tweet](https://twitter.com/share) You're purchasing a business. Congratulations! No matter how much experience you have and what talents you bring to the table, chances are, you have a steep learning curve ahead of you. [Your new business](https://www.tworldminnesota.com/blog/finding-the-right-business-for-you) may have its own unique processes and systems. That's just part of the reason why obtaining support and training from a previous business owner can be very valuable. ## Experience and Wisdom If you had access to the counsel and advice of a subject matter expert in your new business’ field, you'd be foolish not to take advantage of tapping into that kind of intelligence. Presumably, the previous owner has been running the business for some time, making him or her the expert you need.![188144335.jpg](https://www.tworldnorthstar.com/hs-fs/hubfs/Blog_Images/188144335.jpg?width=398&name=188144335.jpg) You may have some great ideas and plans for the future of the company. Perhaps you have a vision for improving its operations and the way things are done. By carving out a period of time where the previous owner continues managing the business, as usual, you can observe how things have been done previously. This may provide added insight as to the reasons why they follow the processes they do. During the transition period, when you have access to the previous owner, you may want to discuss your plans and ideas for the business. They may be things that have been tried in the past or the previous owner may be able to identify possible obstacles or issues that you had not considered. ## Managing Customer and Vendor Relationships Over the course of running the business, the owner has probably developed some close relationships with key customers that are critical to the business' ongoing success. If a customer has a new contact person to deal all of a sudden, it could potentially jeopardize their loyalty to your brand. To mitigate that risk, involve the previous owner in facilitating the change. A face-to-face or telephone meeting may be in order, wherein you and the previous owner discuss with your customer the way in which the responsibility managing their account will transition. It's an opportunity for you to reassure them that they will receive the same service they've come to expect and that they remain valued by the company. A similar special relationship may also exist with the company’s vendors. Your company may have enjoyed better discounts or preferential terms thanks to the bond the owner has formed with suppliers. Again, including the owner in a conversation with suppliers is a great way to get support and training from a previous business owner and ensure you maintain a strong relationship with the supplier so they continue to be an important partner in your company's success. ## Helping Employees Through the Transition When a company is sold, it's natural for employees to be a bit nervous. The unknown is always a source of anxiety and fear. Keeping morale up is going to be critical for maintaining the normal operation of the business. When they see you working with the former owner, it will help to reassure them that, despite the change in ownership, there will be some continuity between what they have become familiar with and what lies ahead. The transition period after purchasing the business is a time that can be fraught with hazards that could significantly set back its operations. By [making the most of the support and training](https://www.entrepreneur.com/article/280134) from the previous owner, you'll be going a long way toward making sure that doesn't happen. To check out a comprehensive list of Minnesota companies currently for sale, visit Transworld's[businesses to buy webpage](https://www.tworldminnesota.com/businesses-for-sale). ![Brian Caldwell](https://www.tworldnorthstar.com/hubfs/website_templates/TWMN_2016/blog-thumb-brian.jpg) ###### Brian Caldwell [Get In Touch](https://www.tworldnorthstar.com/talk-to-advisor) ![](https://cdn2.hubspot.net/hubfs/2029673/Assets/Search_Image.png) - Recent - Popular - Categories ### Lists by Topic - [buying a business (56)](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business (26)](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs (10)](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Business Sale Process (8)](https://www.tworldnorthstar.com/blog/topic/business-sale-process) - [Financial Related (8)](https://www.tworldnorthstar.com/blog/topic/financial-related) - [Business Advisor (7)](https://www.tworldnorthstar.com/blog/topic/business-advisor) - 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Where you might imagine pop-up tent trailers going for $15–20K, the owner and his team specialized in high-end adventure vans, or “Class B” RVs, ranging between $100–200K. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Jan 11, 2024 3:17:00 PM ## [Case Study: How Transworld Helped PWC Sell Their Business in 7 Months](https://www.tworldnorthstar.com/blog/case-study-how-transworld-helped-pwc-sell-their-business-in-7-months)   Sales Timeline: 7 Months   The Background Professional Wireless Communications. Inc. (PWC) has provided reliable and affordable two-way radio solutions in Minnesota and Iowa for 25 years. The company has a loyal and diverse clientele, from schools and hotels to casinos and stores. Pat and Paula Green, a husband-and-wife duo, started the business from scratch. With Mark, their salesperson and 20% owner, they have built a profitable and reputable enterprise. As they neared retirement, the Greens wanted to sell the company and focus on family. Mark also desired to sell, but remain employed by PWC. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Aug 24, 2023 9:00:00 AM ## [Case Study: Selling a Pet-Sitting Business in Less Than 4 Months](https://www.tworldnorthstar.com/blog/case-study-selling-a-pet-sitting-business-in-less-than-four-months)   Sales Timeline: Less than 4 months Sale Price: $320k   The Background Located in the Twin Cities, the owner of Whiskers to Tails Petsitting had proven to be a successful entrepreneur focused on providing care for animals in the home. As a former employee, the owner took over the business in 2019 and successfully operated it through the COVID-19 pandemic. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 5 min read - Aug 17, 2023 9:00:00 AM ### Your Goals Are Just the Beginning Talk to one of our Advisors today about next steps. 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