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As human beings we don’t naturally think about things that are unknown to us. We’re much more comfortable fine-tuning what we do well. While the unknown unknowns may be a ‘black hole’ from an owner’s perspective, it is the area where people looking at the business from the outside will be focusing their attention.

How to Change your Transition Approach – When entrepreneurs start their business, they generally start by doing things they are good at or things they are passionate about. Over time they develop habits that work for them – and although those habits are valuable practices that have proven to work very well in the early stages of a business, those habits can be the very things that now stand in the way of owners being able to exit the business. So how can you, as a business owner, change your approach?

When thinking of exiting your business, entrepreneurs must understand the value of their organization. Business valuation can be a complex process but it is an essential part of a business transition. There are a few different approaches that you can take to understand how much your business is worth. The three primary approaches are known as the Income Approach, the Market Approach, and the Asset Approach.

Eventually, all business owners will have to consider exiting their business. Which exit strategy best suits you and your business’s needs?

What is the next step in this strange new normal? How do you continue to not only survive, but to build value in your business – even now as we are in the second wave of this pandemic?

Owners who have been wanting to sell or step back from their business, have been particularly hard hit during this global turmoil and, as the song goes, must now deal with not being able to get what they want. What happens to our ability to project continued growth in a world that has been turned upside down? What is the bottom line for owners planning to exit?

The COVID-19 pandemic is a huge challenge for business owners, and likely the biggest crisis you as a business owner will ever face. Despite this, it is possible to take back control of your life and your business.

An experienced transition expert will provide business owners with the insights and perspective they need whether they plan to grow, exit, or step back from their business.