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Step One: Explore Compatibility

Initial consultation, conversations, and research to understand how worker-ownership may fit the goals of the owners and employees, as well as to determine the potential future success of the business.

 

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Step Two: Assess Financial Feasibility

Test the viability of a transition by assessing the financials and conducting a business valuation. Develop potential models to sketch out a timeline for the transition. When ready, gauge employee interest in converting to worker-ownership.

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Step Three: Craft the Plan

Create a business plan, sales agreement, bylaws, and governance structure. Design the selling owner's role and begin training employees to ensure a smooth transition in management.

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Step Four: Finalize the Deal

Close on financing and finalize the new bylaws and governance. Finalize plans for ongoing training and support.

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Step Five: Create the Culture

Provide training and support for worker-ownership culture and open book management.