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.