Keeping key employees on board during a transition can help the buyer maintain customer relationships, preserve business knowledge, and ensure operations keep moving.

Buyers typically ask about financial performance, risk, growth potential, and how dependent the business is on the current owner when acquiring a business. These questions form the core of buyer due diligence—and your ability to answer them confidently can make or break a deal.

An exit plan report is a structured, written roadmap that outlines how a business owner will successfully leave or transition out of their business. It serves as a clear deliverable guiding the exit planning process.

Business valuation is the foundation of a smart exit plan. Without a solid understanding of your company’s value, you can’t price it correctly, structure the deal favorably, plan for taxes and retirement, or close value gaps.

Exit planning is not just about the numbers—it’s also about the mindset. Preparing both is essential if you want to exit on your terms.

Most small business owners need 12 to 36 months to successfully finish their exit planning. However, the ideal timeline is closer to 3 to 5 years, especially if you want to maximize value, minimize taxes, and transition smoothly.

A triggering event in exit planning is any significant change—planned or unexpected—that initiates or accelerates the process of exiting a business. These events can be personal (e.g., health issues), business-related (e.g., a sudden offer), or market-driven (e.g., industry shifts).

When it comes to selling or transitioning out of your business, what you keep matters more than what you sell for. Exit planning isn’t just about valuation or deal structure—it’s also about minimizing your tax liability.

If you’re a lawyer, consultant, accountant, or advisor, you’ve likely spent decades building a reputation, book of business, and client trust. But unlike product-based businesses, professional service firms often revolve around the owner’s personal expertise—making exit planning more complex and personal

Exit planning is about how you leave the business. Succession planning is about who will take over inside the business.

One of the most debated questions in exit planning is: Should I work with a business broker or go it alone? This decision can shape your outcome—financially and emotionally—for years to come.

Exit myths aren’t just harmless misunderstandings—they can lead to millions in lost value, avoidable taxes, or failed transitions. Small business owners who succeed at exiting don’t wait until the last minute or go it alone.

An exit plan is how you leave your business on your own terms, with a clear plan to protect its value—and your future.

A management buyout (MBO) is when a business owner sells the company—either fully or partially—to its existing management team or key employees. Instead of selling to an outside buyer, you transition ownership to the people already running the business.

Exit planning isn’t just about owners—it affects your entire team. When handled well, transparent communication builds trust, reduces uncertainty, and improves your chances of a smooth, successful transition.

Exit planning is more personal, more strategic, and more emotional than most realize. And the biggest risk isn’t the economy or the buyer—it’s waiting too long to get serious about the future. Ask any exit planner what keeps them up at night, and they’ll say the same thing: “Owners think they’re ready—until they’re not.”

Exit planning ultimately forces business owners to confront something deeper: their identity. This is the part no one talks about. The emotional side. The moment when your business stops being your job and starts becoming your past.

Whether you plan to exit in 2 years or 10, increasing business value now gives you more freedom, better options, and a higher return when it’s time to move on.

Family succession allows you to keep the business legacy alive, reward loyal family involvement, and maintain continuity with employees and customers. However, selling to a relative involves more complexity than it seems, especially when it comes to pricing, taxes, and relationships.

An Employee Stock Ownership Plan is a type of retirement plan that gives employees ownership interest in the company. Instead of selling to an outside buyer, the business owner sells part or all of the company to a trust that holds shares on behalf of employees.