Transition Challenges
Support for Eau Claire Businesses
Eventually, many business owners start asking bigger questions—like whether it still makes sense to keep going or to start thinking about selling or closing altogether. When you’re at that point, it can be hard to know what direction is right or what steps to take next. Fortunately, Eau Claire offers local support to help you evaluate your options and move forward with more clarity. The steps below will help guide that process so you can figure out what feels right.
Common Signs It's Time to Reevaluate Your Next Steps
A Roadmap to Your Next Chapter
Disclaimer: The guidance published here on the City of Eau Claire Economic Development Division website is meant to be a helpful starting point as you navigate business support in our community. It’s not the final word on what’s best for your unique situation. We always recommend checking in with financial, legal, or other professionals for advice tailored to your business.
Immediate Steps
What to Do in the Next 48 Hours
When you’re unsure whether to continue, pause, sell, or close your business, it’s easy to feel pressure to make a decision quickly. But this is one of those moments where slowing down actually helps. Use the next 48 hours to step back, gather your thoughts, and get a clearer picture of where things stand so you can move forward with more confidence—not urgency.
🎯 Goal: To sort through your feelings and figure out whether you just need a break from your business or to step away completely.
Next Steps
1. Give yourself space to think clearly.
Step out of day-to-day operations as much as you can and create a little distance. When you’re constantly in it, everything can feel more overwhelming or urgent than it actually is. Even a short reset can help you approach decisions more thoughtfully.
2. Take a quick snapshot of where things stand.
Look at your current financial position, workload, and overall stability. Are you covering expenses? Are things trending up, down, or staying flat? You don’t need perfect numbers—just a general sense of where your business is right now.
3. Clarify what’s driving your uncertainty.
Start putting words to what’s making this decision difficult. Is it financial pressure, burnout, lack of growth, or something else? Getting specific helps you move from a general feeling of “this isn’t working” to something you can actually evaluate.
4. Think through your main options at a high level.
Consider what continuing, pausing, selling, or closing might look like in your situation. You don’t need a full plan yet—just begin outlining what each path could involve so they feel less abstract.
5. Start writing down questions and next considerations.
As thoughts come up—about finances, timelines, responsibilities, or potential outcomes—capture them. This will give you a clearer list of what you need to work through in the next phase.
6. Hold off on making any final decisions.
It’s natural to want resolution, but this isn’t something you need to decide in a single moment. Give yourself time to gather more clarity before committing to a direction.
Short-Term Steps
What to Focus on Over the Next 2 Weeks
Now that you’ve taken a step back and have a clearer picture of where things stand, the next couple of weeks are about working through your options more intentionally. You don’t need to have everything figured out right away. Instead, focus on gathering the right information, talking things through, and starting to narrow in on a path that feels realistic for you and your business.
🎯 Goal: To evaluate your options more clearly and begin identifying which path forward makes the most sense.
Next Steps
1. Get a clearer handle on your financial position.
Take a closer look at your numbers—revenue, expenses, debts, and any obligations. Understanding what you’re working with will help you realistically evaluate whether continuing, pausing, or exiting is feasible.
2. Identify any immediate risks or obligations.
Think about leases, contracts, employees, or inventory. Knowing what needs to be addressed in the short term can help you avoid surprises and plan more intentionally.
3. Talk through your situation with someone you trust.
Whether it’s a mentor, advisor, or fellow business owner, having an outside perspective can help you think more clearly. They may ask questions you haven’t considered or help you see your situation from a different angle.
4. Explore what each option would actually involve.
Start digging a little deeper into what it would look like to continue, pause, sell, or close. What steps are required? What timelines are realistic? What responsibilities would you need to manage?
5. Begin outlining a rough path forward.
You don’t need a final decision yet, but start sketching out what your most likely direction could look like. Even a rough outline can make things feel more manageable.
6. Start gathering the resources you may need.
Depending on the direction you’re leaning, this could include financial guidance, legal advice, or business support services. Getting connected early can make the next steps smoother.
7. Give yourself time to process the decision.
This is a big transition, and it’s okay if it takes time to work through. Focus on making a thoughtful decision you can stand behind, rather than rushing to a quick answer.
Long-Term Steps
What to Work Toward Over the Next 90 Days
Over the past few weeks, you’ve taken time to understand your situation and start working through your options. Over the next few months, the focus shifts to making a clear decision and following through on it. Whether you choose to continue, pause, sell, or close, this stage is about moving forward with intention and putting the right pieces in place to support that path.
🎯 Goal: To make a well-informed decision and take the steps needed to move forward with clarity and stability.
Next Steps
1. Make a clear decision on your path forward.
Based on everything you’ve learned, decide which direction makes the most sense for you and your business. It doesn’t have to feel perfect, but it should feel informed and intentional.
2. Create a simple plan for what comes next.
Outline the key steps involved in your decision—whether that’s continuing operations, preparing to sell, pausing, or winding down. Focus on the major milestones so you know what needs to happen and in what order.
3. Put the right support in place.
Depending on your path, this could include legal, financial, or business advisors who can guide you through the process and help you avoid missteps.
4. Address key financial and operational details.
Work through any remaining financial obligations, contracts, inventory, or staffing considerations tied to your decision. Taking care of these details early can help prevent complications later.
5. Communicate with the people affected.
Be thoughtful about how and when you share updates with employees, customers, vendors, or partners. Clear communication can help maintain trust and make the transition smoother for everyone involved.
6. Follow through on your decision step by step.
Focus on making steady progress rather than trying to do everything at once. Breaking the process into manageable steps can make a big transition feel more doable.
7. Reflect and prepare for what’s next.
As you move through this transition, take time to reflect on what you’ve learned and how it can inform your next chapter—whether that’s continuing in a new way or moving on to something different.
⚠️ When to Seek Help Immediately
Deciding whether to continue, pause, sell, or close your business can feel like a lot to carry. Taking time to think it through is important, but there are points where getting outside input can help you see things more clearly. Bringing in the right guidance early can help you sort through your options, avoid missteps, and move forward with more confidence.
You may want to reach out to one of the support organizations listed below now if you’re starting to notice things like:
- You’re not sure how you’ll keep covering expenses in the next few months
- You’re dealing with debt, leases, or contracts and aren’t clear on what you’re responsible for
- You’ve got a major deadline or decision coming up and don’t feel prepared for it
- You’re seriously thinking about closing or selling, but aren’t sure what that actually involves
- You’re worried about how your decision could affect employees, customers, or partners
- You’re feeling overwhelmed trying to sort through all your options
- You’re not sure how to value your business or where to start if selling is on the table
- You’re second-guessing most decisions and having a hard time moving forward
Experiencing one or more of these situations doesn’t necessarily mean your business has to close, but it can be a sign that having the right support could make a big difference. Business advisors, financial professionals, and legal experts can help you understand your options, navigate the details, and move forward in a way that protects both you and your business.
Who Can Help
Find local organizations and experts that can help with your next steps.
Support Organizations
The UW–Eau Claire Small Business Development Center (SBDC) is a no-cost, confidential business advising center that helps business owners evaluate major decisions like continuing, selling, or closing. They can assist by reviewing your financial position, walking through your options, and helping you map out a clear, realistic path forward.
🔗 wisconsinsbdc.org
SCORE West Central Wisconsin is a nonprofit network of experienced business mentors who provide free, one-on-one guidance. They can help you talk through your situation, weigh different transition paths, and offer practical insight to help you move forward with more confidence.
🔗 score.org
Western Dairyland Economic Opportunity Council (EOC) is a regional nonprofit that provides business support and financial counseling services. They can assist by helping you understand your financial situation, explore available options, and connect you with resources that support a smooth transition.
🔗 westerndairyland.org
The Eau Claire Area Economic Development Corporation (EDC) is a regional economic development organization that supports business growth and stability. They can help connect you to resources, provide guidance on transition options like relocation or ownership changes, and support next steps based on your business goals.
🔗 eauclaire-wi.com
The Eau Claire Area Chamber of Commerce is a local business membership organization that provides networking, advocacy, and resource connections. They can assist by helping you connect with local professionals, explore transition-related opportunities, and stay informed on resources available within the business community.
🔗 eauclairechamber.org
The Hmong Wisconsin Chamber of Commerce is a statewide organization that supports diverse and underserved entrepreneurs through business assistance and advocacy. They can help business owners navigate transition decisions, access culturally responsive support, and connect with resources to move forward.
🔗 hmongchamber.org
Local Professionals
A business advisor is a professional who helps owners evaluate their current situation and make informed decisions about the future of their business. They can assist by helping you weigh options like continuing, selling, or closing, and develop a clear, realistic path forward.
🔗 Find a Local Business Advisor
A Certified Public Accountant (CPA) is a financial professional who helps businesses understand their financial position and obligations. They can assist by analyzing your numbers, estimating the financial impact of different options, and helping you plan for taxes related to a sale, closure, or transition.
🔗 Find a Local CPA
A business attorney is a legal professional who helps businesses navigate contracts, liabilities, and regulatory requirements. They can assist by reviewing leases, agreements, and obligations, and guiding you through the legal steps involved in selling, transferring, or closing a business.
🔗 Find a Local Business Attorney
A business broker is a professional who helps owners buy or sell businesses. They can assist by valuing your business, identifying potential buyers, marketing the business confidentially, and guiding you through the sale process.
🔗 Find a Local Business Broker
A financial advisor is a professional who helps individuals plan for their financial future. They can assist by helping you understand how a business transition impacts your personal finances, retirement plans, and long-term goals.
🔗 Find a Local Financial Advisor
A commercial real estate broker is a professional who helps businesses lease, sell, or transition property. They can assist by navigating lease exits, subleasing options, or selling property tied to your business.
🔗 Find a Local Commercial Real Estate Broker
Get Support
Get in touch with the City of Eau Claire Economic Development Division for connections to confidential business support from local partners.
