Strategic growth for entrepreneurs often gets blocked by outdated assumptions and “rules of thumb” that don’t hold up in today’s business environment. Let’s bust some of the biggest Exit Planning Myths so you can avoid costly mistakes and set your company on the right path.

The Mental Readiness Index (MRI) is a tool used in exit planning to measure how emotionally and psychologically prepared a business owner is to transition out of their business. It’s not about financials or operations—it’s about the owner’s mindset, goals, and readiness to let go.

Many business owners believe: “If a buyer needs financing or asks for a seller note, it means they can’t afford my business—or worse, that the deal isn’t safe.”

Your business exit won’t happen by accident. Without a clear exit timeline, you risk leaving money on the table, rushing decisions, or missing personal goals like retirement or family succession. According to Inc., most owners underestimate how long it takes to prepare for a successful exit—often three to five years or more.

Selling a business isn’t the finish line—it’s the starting point of a new chapter. Too often, owners think of the sale as the end of the story. In reality, what happens after the sale can define your financial freedom, personal fulfillment, and legacy even more than the transaction itself.