Tina Corner StolzLXCouncil | The Global Leader in Peer Advisory Councils · Founder of LXCouncil - the leading global educator for peer advisory councils

Is Your Business Ready for Transition?

Name: Is Your Business Ready for Transition?
Uploaded: 2025-01-15T09:00:47+00:00
Duration: 26 s
Channel: Tina Corner Stolz
Description: In this brief segment, the speaker highlights a common misconception among business owners planning an exit or transition: feeling personally ready does…

15 Jan 2025 · 0 min

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In this brief segment, the speaker highlights a common misconception among business owners planning an exit or transition: feeling personally ready does not necessarily mean the business is ready to be transferred. She emphasizes that personal readiness alone is insufficient; the business must be demonstrably transferable and the owner must have completed essential de‑risking work before a successful transition can occur.

Yeah, I think that, um, there's a common misconception among business owners who are thinking about exiting or transitioning out of their business that when they feel like they're ready, that that's the right time. And usually the answer is that it's not the right time. Just because you feel like you're ready doesn't mean your business is actually transferable, and it does not mean that you've actually done the work that you need to do to de-risk yourself.