Before undertaking a worker co-op conversion, it is advisable to take a sabbatical to assess personal and company readiness. This reflection can provide clarity. Reviewing resources like the Legal Guide to Cooperative Conversions is beneficial, although it may be lengthy and complex. An employee ownership conversion necessitates professional assistance, so consulting with a co-op developer for an informal feasibility assessment is crucial. Finding a compatible co-op developer is essential for successful management of the conversion process, ensuring representation of both owners and employee-buyers.
"Before embarking on a worker co-op conversion, take a sabbatical from work to assess readiness, which can provide clarity on both personal and company needs."
"Review the Legal Guide to Cooperative Conversions for clear guidance, but understand that it may be lengthy and complex, necessitating adequate focus and time."
"An employee ownership conversion requires professional guidance; it's essential to consult with a co-op developer for feasibility assessments and to establish proper frameworks."
"It's crucial to find a compatible co-op developer who can manage the conversion process while addressing the needs of existing owners and employee-buyers."
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