A proper exit strategy is crucial for business owners, serving as a roadmap for a smooth transition when selling or leaving a business. In a discussion with Nixon Peabody’s Shaziah Singh and VenturX Capital’s Sydney Wong, the importance of planning an exit strategy from the outset was emphasized. Exit strategies vary and include mergers and acquisitions, IPOs, and buyouts, often influenced by market conditions. Early planning, involving legal counsel and aligning founders and investors, is vital. Common pitfalls include a lack of planning and messy equity arrangements, highlighting the need for thorough research before making decisions.