SHIFT HAPPENS: ALWAYS BE READY TO SELL
In the ideal world we build a business over a period of several years and plan to sell it at a certain milestone: normally when the owner reaches a certain age, a valuation target, or a certain profit target. The hard fact of owning a business is that accidents happen and people (business owners or major shareholders) get disabled or die. The other thing that happens (albeit less frequently) is that someone walks in off the street and asks to buy your business.
Either way, you need to be prepared to sell your business at any time, and you need to make sure that your business can be sold even if you’re the one who is dead or disabled. Life happens. Death happens. Make sure the assets of your loved ones are secured by preparing your business for sale and also making sure that you carry key-man insurance so that if any major shareholder dies the business can buy them out.