Beginning the Transition Growth Planning process does not mean that you must carve in stone a departure date from your business or the terms and conditions of your departure.  If you are like most business owners, you have played one of the most crucial roles in establishing the past success and future potential for your company.  Only you and your spouse (and sometimes your children) should be telling you when or how you must leave your business.

You Will Exit.
Instead, Transition Growth Planning recognizes the fact that you will actually exit your business eventually.  Perhaps you plan to manage your business until your death or disability.  Perhaps you plan to retire before your death or disability, but intend to own your company until your death or disability. 

Your Situation?
Your plans might also include one or more of the following:
•  You plan to keep working on growing your business for some time yet, and want to take the steps needed now to preserve and protect your business so it is thriving when you do eventually exit.
•  You plan to keep working on growing your business for some time yet, but want it structured right for  you eventual retirement or unexpected exit.
•  You aren’t ready to exit yet, but recognize the need to have a plan in place.  
•  You would like to still run your business for a while, but want to start developing a successor so you can spend more time traveling with your spouse and/or other family members.
•  You’ve achieved your goals as a business owner and would like to leave when and if the best opportunity comes up.
•  You would like to give an adult child or key employee the opportunity to start leading the company (and perhaps be able to coach them for a while).
•  You are ready to retire as soon as feasible. 
•  You would like to spend more time with your children or grandchildren.
•  Your spouse would like you to retire.
•  Your children would like you to retire. 
•  You would like to retire from most active duties, but remain as owner.
•  You are not sure whether you are able or willing to keep up or catch up with the new technologies demanded in your industry.
•  You are not sure you want to fight another economic down cycle. 
•  You may recognize that valuation multiples today may present a temporary window of opportunity for your exit.

•  Taking your company to the next level will require a new level of debt or equity which may or may not be feasible.
•  As you’ve reached this point in your life, you have a decreasing tolerance for risk and a desire to remove some financial chips from the table.  
•  Fatigue and boredom may be starting to set in.  
•  Perhaps you are ready to start a new chapter in your life or have just lost the “fire in the belly” to continue pursuing your business.
•  Perhaps you never thought you would sell, but someone is offering you the right price and the right terms.
•  Perhaps you or your spouse or other family member are starting to encounter some health concerns or you want to take some steps to head off the development of health concerns.  
•  Perhaps you have some adult children or key employees who are starting to insist on ownership if they are to remain with the company.
•  Perhaps you want to exit this company and invest in a new venture.
•  Perhaps you want to take some time to test the market for the sale of your company.
•  Perhaps you have come to realize that the best course for your family, your long term employees, and your valued customers, is for you to lay in the ground work and the planning for your exit, whether this occurs sooner or later, so that you have best provided for the continuity of the business, the continuity of employment for your valued employees and the continuity of products and services for your valued customers.