Exit Planning Institute — where I serve as President — conducted a nationwide survey of business owners in 2023, the National State of Owner Readiness Report. Focal Point 2: Focus on financial planningGood exit planning seeks to balance what the Exit Planning Institute calls the "Three Legs of the Stool." Business planning isn't enough: it must be done in harmony with personal planning and personal financial planning. Millennials typically have personal planning down in spades: we know all the ambitious dreams we want to accomplish. However, since we earn to spend, we need to focus more on personal financial planning, as it aligns with our business and personal goals.