Most business owners understandably live in the moment. Operating a successful business depends on the real-time and continuous management of employees, vendors, cash flow and, of course, customers.

But business owners eager to ensure both their own financial security and the long-term viability of their company (which, let’s face it, is all business owners) need a comprehensive exit strategy. In its simplest terms, an exit strategy is a roadmap of the actions required for business owners to transition away from day-to-day control of company operations in as financially advantageous a position as possible while positioning the business to flourish over the long term.

It would be reasonable to assume that business owners would be eager to prioritize their own financial well-being and the sustainable health of their company. Yet a recent survey of business owners found that nearly half had no exit strategy whatsoever and that 13% had not even considered the necessity of having one.