For many entrepreneurs, selling the company they built from the ground up is a lucrative opportunity that will set them up for retirement or their next business venture. However, a successful sale is not as simple as finding a buyer and signing some paperwork. There's a lot of preparation and planning that goes into an acquisition, and any founder who wants to sell their company must be ready for that process.

Below, a group of entrepreneurs shared seven best practices founders should follow when they're looking to sell their business. Follow their recommendations to ensure a smooth transition into the next phase of your career journey.

1. Start planning early.

2. Put solid systems in place.

3. Determine your business's worth.

4. Have your numbers ready.

5. Leave your emotions out of it.

6. Consider your brand's future legacy.

7. Plan for what happens after the sale.