When you first decide to exit your business, you quickly realize that there are a lot of different questions you’ll have to answer — and they’ll start to snowball. Who could take over? Where can you find that person? What is the value of your business? How do you tell your team?
And most importantly: How can you ensure an easy and smooth transition that will adequately prepare your successor for everything your business does?
Because you can’t just hand someone the metaphorical keys to your business, dust your hands off, and walk away. For one, you’ll make it harder to find someone eager enough to take over your business if you don’t prepare them. Plus, you’ll minimize the value of what your business can actually do — leaving you underpaid for the successful business you built up.
But, you also don’t want to be stuck holding your successor’s hand as you make the transfer in ownership. You’re exiting for a reason — whether that’s to pursue something new, start another business, or just take a break — and being on call just because you know everything about running your business isn’t truly exiting.
That means you need some way to ensure your knowledge — about all your processes, policies, systems, operations, and more — can be seamlessly transferred during your exit planning. And Trainual is your solution.
Trainual: The Knowledge Management Platform You've Been Looking For
What is Trainual, you ask? This employee onboarding and training software centralizes your company’s documentation and knowledge in an easy-to-use and accessible platform. For business owners, this tool simplifies documentation, enhances engagement during employee onboarding and training, and ensures ease of access to vital information whenever and wherever.
Your Trainual account is a dynamic representation of your company. Alongside your policies and processes, it includes a complete company directory and organizational chart, clarifying the roles and responsibilities of your employees — promoting transparency and facilitating easier monitoring of accountability across the company.
Plus, whether you’re starting your knowledge management from scratch or a collection of material, Trainual is equipped with AI features such as document importing and text generation, simplifying the creation of your full operational manual.
The Perfect Software for Training and Referencing During Exit Planning
Now, having a complete operational guide to go with your business might be good enough for your successor. But, what if we took it one step further?
Trainual isn’t just a knowledge management platform — it was primarily built to support employee onboarding and training. Meaning, its features are specifically designed to make knowledge transfer easy and manageable. From digestible subjects to fun embeds like images and videos, going through your documentation in Trainual makes training easier.
It’s hard enough trying to learn about everything that makes a business tick — the last thing your successor probably wants is a thick manual that they have to read cover to cover.
Plus, if they have singular questions here and there as they learn the ropes, there’s no need to have you on speed dial. Trainual’s AI-powered search will surface company knowledge at the push of a button. As long as you house your need-to-knows and how-tos in Trainual, your successor will be able to find it.
For any business owner looking to sell their business, having a Trainual for your business instills trust in potential buyers and promises an easy knowledge transfer. For Certified Exit Planning Advisors ® (CEPAs), Trainual is a crucial resource that solves that pesky knowledge transfer issue for their clients.
Ultimately, Trainual was built for business leaders looking for a way to train their teams, manage their company knowledge, and plan for the future of their businesses — all in one place. Whether they want to scale and grow, or eventually exit, Trainual makes any transition smooth and easy, making the platform a perfect solution for any exit planning strategy.
