Why is the first deliverable referred to as the Triggering Event?

The first deliverable is referred to as the Triggering Event because it represents a specific moment or situation that prompts the business owner to take significant action regarding the future of their business. This event can be various circumstances, such as a desire to retire, an unexpected life change, or shifts in the market landscape that make the owner reconsider their exit strategy. Recognizing this event is crucial as it sets the stage for the planning and preparation necessary for a successful exit. Understanding that the business owner is motivated to act in response to this event is essential to facilitate effective planning for transition and eventual exit.

In practice, the Triggering Event serves as the catalyst for initiating discussions about exit options and the planning processes that follow. This underscores its pivotal role in guiding business owners toward making informed decisions about their future and the future of their business.