Written by: Mike DeMaio, Founder, Crown CFO

A lot of business owners dream of selling their company someday or handing it down to the next generation — but often, they’re not really ready when the time comes.

The good news is that the steps you’d take to prepare for an exit are really just the things you should be doing to run a healthy business anyway. Things like:

• Making sure your financial reports are up to date and accurate. (Especially your cash flow forecast)
• Knowing your numbers inside and out. (An incomplete view of your business can blow a deal.)
• Implementing solid financial processes that ensure strong, accurate financial reporting

Even if you don’t think an exit is in your immediate future, all these factors will make it more valuable when the time comes — and make your business easier to operate until it does. Getting ready (and staying ready) for an exit strengthens your company for whatever happens next.

Understanding the importance of exit planning

Crown CFO is one of the best-known CFO firms in Kansas City for supporting business owners in mergers and acquisitions. We have a deep background in helping our business owners through the process, and the professionals involved in deals around town know that a company with a Fractional CFO from Crown on their team will be well prepared and maximize the value of the deal.

A Fractional CFO from Crown helps strategically “quarterback” an exit, ensuring not only that all the financial reporting is buttoned up but also that all the people involved are working together smoothly. From your attorney to your banker to your CPA to your personal financial advisor, everyone has a role to play in helping you exit, and your Fractional CFO will stick by your side as the owner to increase the probability of success for all involved.

Recently we further strengthened our skills in helping you plan for business transitions when I became a Certified Exit Planning Advisor (CEPA) through the Exit Planning Institute. Being a CEPA means Crown CFO clients now have access to some of the top exit planning expertise in the area. As of this article’s publication date, I’m the only CEPA in Kansas City listed in the CFO category in the EPI database.

Part of being a CEPA is knowing that this isn’t just about business — there’s a deeply personal aspect at play too. Many business owners panic after an exit because they aren’t sure what to do next. My job as a CEPA and a Fractional CFO includes helping you prepare for exiting your business and for your next steps when the deal is done. Planning for any type of exit 

Exit planning is good business strategy because the same things that increase your valuation are the ones that help you prepare for an unexpected or unintended exit. It means being ready in case you encounter one of the five D’s that can derail succession planning — death, divorce, disability, distress or disagreement. That can look like:

• You becoming disabled and unable to run your business.
• You and your business partner deeply disagreeing on how to run the company.
• Your business suddenly becoming distressed due to outside factors like tariffs or major industry changes. 

If one of those struck your business today, would it weather the storm? Working with a CEPA (and Crown CFO) can help protect you from making panicked or desperate decisions if you find yourself in one of these situations. 

Part of working with a CEPA means quarterly check-ins to make sure you’re happy with the road you’re on and look at any tweaks that might be necessary. Anything from industry developments to personal changes can prompt you to re-evaluate your plan, and, as a CEPA, I’m trained to help you think through it all.

Looking at the intangibles

Even with all your financials in order, there are other factors that come into play with an exit, no matter what type it is.

First, there’s the intangible value of your relationships with your team and your customers. Are you so beloved by your customers or your employees that they’ll have a tough time with you leaving? Does your business hinge on one or two large customers? What sort of risk might you create by leaving the business? Potential buyers will want to understand these things.

Second, many business owners neglect to prepare themselves personally for an exit. According to the Exit Planning Institute’s 2025 State of Owner Readiness report:  

• 75% of business owners profoundly regret selling their company one year later 
• While 35% of Baby Boomer owners, 62% of Generation X owners, and 68% of Millennials owners have a written plan for their personal finances…
• …just 13% of Baby Boomers, 43% of Generation X, and 56% of Millennials have a formal plan for their personal lives after an exit.
• 9% have no plan of any kind for their exit.

As a Fractional CFO, I’ve seen business owners who exit and are unprepared for feeling bored or purposeless afterward. As a CEPA, I can help Crown CFO clients create an exit plan that fits both their personal lives and their personal finances. We’ll make sure everything is aligned for a more successful outcome from all angles.

Let Crown CFO help you navigate your exit planning

Having a CEPA leading the Crown CFO team gives our existing clients an advantage because we’ve already been working in their business weekly to strengthen their financial positions. Now we can take a more structured approach to the personal side of the exit equation as well.

Our future clients can bring on a Fractional CFO from our team knowing that exit planning, getting your financials ready, and preparing personally will be important parts of the conversation.

Are you a business owner without a formal exit plan for your business — and yourself? A Fractional CFO from Crown can make sure you’re prepared both financially and personally for any type of exit. Contact Kerry George at kerry@crowncfo.com to bring a trusted, expert Fractional CFO to your business.