How Certified Exit Planning Advisors Can Help Business Owners Avoid Common Exit Planning Mistakes

A business owner can receive the offer they wanted and still walk away from an exit with unanswered questions.

Was the family prepared for the transition? Was the business truly ready to operate without its owner? And was the owner ready to leave behind the routine, relationships, and sense of purpose that came with building the company?

These are the questions that keep Certified Exit Planning Advisors (CEPA®) up at night. A successful exit involves more than closing a deal; it requires owners to consider the personal, financial, and business consequences of what comes next.

In the 2026 edition of the Annual Exit magazine, three advisors share the mistakes that can complicate a business exit or transition, and how CEPAs can help clients address them before they become harder to solve.

The Dangers of an Isolated Exit

Exiting a business is a major decision that affects more than just the business owner themselves. In many transitions or exits, family plays a major role in the process – or at least it should.

Judi Cunningham, founder of Trella and member of the Exit Planning Institute® (EPI) faculty, works closely with families undergoing a business exit. One of her biggest fears is that a business owner and advisor are having isolated conversations about the exit, rather than consulting family members who need or want to be involved in the process.

These conversations with family should start as early in the process as possible, according to Judi, including every family member who might be affected by the exit. She adds that sometimes, business owners can make assumptions about who does or does not want to be involved in a business transition, including potentially taking over ownership.

The Dangers of a DIY Exit

Small business owners often have to make difficult decisions. They built their company by solving problems, taking calculated risks, and relying on their own instincts.

That independence can sometimes be carried into exit planning. Some owners believe selling a business is not complicated and that they can handle it on their own or with the help of a single trusted advisor, and that their biggest challenge is simply choosing the right time to exit.

These business owners who pursue DIY exits often start planning too late. Lien De Pau, a former business owner and founder of The Big Exit, has seen how a late start can affect both the financial and personal sides of an exit.

These owners may find themselves with less leverage in a transaction while also being unprepared for the loss of routine, relationships, and purpose that came with owning the company.

Advisor Blind Spots

Business owners aren’t the only ones facing potential struggles during a transition or exit process. Advisors often get pulled in many directions when serving as the owner’s most-trusted advisor.

For Lien, the emotional labor of helping a business owner become truly ready to exit their business can be a heavy burden for a CEPA.

“A broker doesn't want to be a therapist; they want to make deals. A financial planner doesn't want to be a therapist; they want to plan for the next step financially,” she says.

This doesn’t mean that one advisor on the team has to be a licensed therapist; however, it does make emotional intelligence a key tool for a CEPA. That includes the ability to read the room, acknowledge fear, and still move the process forward in a way that leaves everyone feeling heard and respected.

How to Sleep Better at Night

So, how can advisors avoid these potential pitfalls? For Judi, Lien, and Christian Muntean – an Alaska-based CEPA who previously served as an executive coach, it boils down to a simple idea: have conversations about a potential exit or transition as early as possible.

Judi suggests that transitions that require “(at least) a year of a lot of conversations” to become clear. Lien and Christian recommend that owners begin serious preparation three to five years before a sale.

To read more from Judi, Lien, and Christian, download the 2026 edition of the Annual Exit magazine using the form below, featuring personal planning insights from top advisors.

In addition to this feature, you will find tips on helping business owners prepare to become the “Chief Family Officer” post exit, and perspectives from 2025 Exit Planner of the Year Joe Seetoo on how to prepare owners mentally for a significant exit.

About the Exit Planning Institute 

The Exit Planning Institute® (EPI) is the exit planning market leader, providing education, tools, resources, and the ecosystem to support professional advisors across the globe on all things Value Acceleration. EPI’s offerings include the Certified Exit Planning Advisor credential, the annual Exit Planning Summit, EPI Academy, an extensive Chapter Network, and more.  

Related Resources

• Introducing EPI’s Second Annual Exit Magazine
• The Conversations that Make or Break Succession
• Why “I’ll Know When the Time is Right” is Not Good Exit Planning Strategy