Practice Transition Readiness Assessment (PTRA)

When should you begin planning your transitioning out of your practice? 3 years, 5 years, 10 years?

Determining the right time to sell or transition out of one’s business can be a challenge. How do we know if we are truly prepared to pursue another direction in life? How can we be certain that we are ready for the changes in our daily calendar after the business is gone? What questions need to be asked to determine when, and if, circumstances are optimal to undertake such an impactful life event?

Most small business owners have never formulated their transition plan nor have even confronted the fact that they will not be managing the business forever. The time to start planning is NOW – regardless if you have just stared a business or you are nearing the exit.


Introducing the Practice Transition Readiness Assessment!

This simple online questionnaire allows you to assess your current readiness regarding the life-changing event of a business transition. It is not expected that you will score high in each of these areas unless you are nearing the retirement of your ownership, however it is a base-line assessment to understand what needs improvement as you continue to build your empire. Once completed, a graph will be created to orient you on your readiness and provide a basis for meaningful discussions with your family, associates and business advisors on the subject. Insights gained from this exercise can prove invaluable in the decision-making process regarding the fate of the enterprise you worked so hard to build.

So where do you start?

Step one – assess your current condition of readiness in each of these 9 areas:

  • Having a written transition plan.
  • Coordinating a team of advisors.
  • Training personnel.
  • Building practice systems.
  • Income planning.
  • Obtaining valuable practice assets.
  • Practice finances in good order.
  • Assessing your emotional readiness to exit.
  • Preparing the exit transaction.

Begin your transition journey by first taking this in-depth assessment to learn your current readiness condition compared to the optimum. Once your test has been successfully completed you will receive an email to schedule a meeting to review your results graph with a trained professional. This process is meant to help you discover your true transition readiness condition and ultimately how our programs are designed to help you improve your condition in the weakest areas.