Valuation is a very critical factor during ownership transitions because it has to be a number that fairly represents the value of the business for the outgoing owners while providing a solid return for the buyers.
For construction contractors, the challenges with role transitions are significantly worse due to changes in the construction process including technology, the shortage of talent, and the highly competitive fragmented nature of the construction industry.
The Ability to do something. Sometimes combined with performing to a certain level (standard / competency) and possibly the verification of that performance (certification).
