Every business owner wrestles with the dilemma, "When is the right time to sell my business?" The right time to sell is when you have a compelling reason to put your equity into a new venture. It could be in safe annuities if you have reached your magic net worth figure. It is more probably going to be allocated (hopefully not all of it) in your next venture.
Until you have a compelling reason to sell, do not get talked into going to market prematurely. Meet with your exit strategist. Review your anticipated proceeds expectations. Take into consideration where you want to be in three years or even next year. Too many sellers are on the market due to fear of loss without knowing what they are going to do next. Many of the businesses on the market will not sell or if it does, will take much longer than the typical six months, because the fear of the unknown will compel the seller to poison-pill any deal without knowing why they are doing so. I have seen this too many times as an intermediary.
"When should I sell my business?" Whenever you have a compelling reason to execute your exit plan. Sometimes, it will be opportunistic. If a potential buyer approaches you with an offer you can't refuse, and you already have developed an exit strategy, be flexible. If your plan is accelerated by outside influence it could be providence.