Looking at the calendar, it is natural to ponder the transition perspectives presented. As one year closes; another is just beginning. It is an excellent time for company owners to consider the options for what is next.
A productive way of doing this is to complete a Value Factor Analysis. This process looks at strengths, weaknesses, opportunities and threats of a business from a buyer’s perspective. It helps you look realistically at transition options.
Here are several key factors:
- When? Start early enough for a meaningful transition. Act before you have to and leave “gas in the tank”.
- Where? Take a realistic look at sources of revenue. Can they be sustained through a transition? Recurring sources are most sought after. If you start fresh with every customer, do you have a system that can be transferred?
- Why? Ignoring transition is not a good plan. Take charge of your future. Don’t let circumstances and events make the choices for you.
- How? We can walk you through the process or you can start by completing the Value Builder survey via the link on our home page.
Give us a call and we can help you evaluate when to take your next step.