Why Most Business Owners Delay Their Exit Plans
Most successful business owners understand the importance of having an exit plan, yet many never take action.
After working with countless business owners, I’ve realised that hesitation always comes down to six key reasons.
Running a business is all-consuming, and it’s easier to focus on daily operations than to plan for the future.
Many entrepreneurs also have a deep emotional attachment to their business — after all, they’ve built it from the ground up.
Anything that threatens that connection, even subconsciously, can feel like a personal attack.
Then there’s the complexity of getting a business due diligence ready. The process can feel overwhelming, making it easy to push exit planning further down the to-do list.
Some owners believe they’ll think about an exit when they’re ready, which is like deciding to plan for retirement only once you’ve reached retirement age.
Fear is another powerful factor. Fear of change, uncertainty about what the next chapter will look like, and — perhaps the biggest one — fear of losing control.
If you’ve been calling the shots for decades, even the thought of a short transition period under new ownership can feel unsettling.
People are naturally loss-averse — it’s well documented. Psychologically, we tend to focus more on potential losses than future gains.
But unexpected events can force your hand, and failing to plan is ultimately planning to fail.
#exitlaunchpad #exitplan
