Exiting a business involves more than selecting a date and placing the company on the market—it requires careful preparation financially, operationally, and emotionally to ensure a smooth and successful transition. A thoughtfully developed exit plan enables business owners to preserve value, maintain continuity, and part ways on their own terms, but too often expectations around timing, ease, and outcomes don’t reflect reality. In reality, nearly half of businesses listed for sale never find a buyer, and a successful sale requires more than just listing—it demands careful preparation to attract serious, qualified interest. Exiting on your own timeline is ideal in theory, but in practice it rarely works without a long runway, and owners who wait until the last minute often limit their options, while starting the planning process three to five years in advance dramatically increases the chances of a smooth transition. Without early planning and expert guidance, the process can quickly become overwhelming and the results disappointing, with an estimated two out of three business owners reporting being unhappy with how their exit unfolded. A successful exit requires readiness across three dimensions: business readiness, which means your operations, financials, and leadership team are prepared for a transition; financial readiness, which ensures the sale or succession supports your financial future and aligns your business value with your personal financial goals; and personal readiness, which involves being emotionally prepared to step away, as many owners are surprised by how much their identity ties to their business and it’s important to plan for what’s next. Successful transitions aren’t accidental—they are the result of deliberate steps taken over time, including beginning exit planning three to five years in advance to strengthen the business and explore different exit options, obtaining a professional valuation to understand what your business is worth and why so you can take actions that increase long-term value, using scenario planning to align the exit with both personal and business goals whether through a third-party sale, internal succession, or other strategies, ensuring that personal and financial goals match the business strategy to create a satisfying transition, and regularly revisiting your plan as circumstances evolve. Exit planning is about building long-term resilience and value and, when done well, supports day-to-day decision-making, aligns operations with vision, and creates flexibility for the future.