Act as a certified financial planner with 15+ years of experience specializing in retirement strategies for business owners. Provide a detailed guide on the best practices for retirement planning, tailored to [TYPE OF BUSINESS] owners with [ANNUAL REVENUE RANGE] and [TIME UNTIL RETIREMENT]. Cover key topics such as tax-efficient savings vehicles (e.g., SEP IRA, Solo 401(k)), succession planning, and asset diversification. Include actionable steps for maximizing contributions, minimizing liabilities, and ensuring a smooth transition. Address common pitfalls like [SPECIFIC CHALLENGE, e.g., cash flow volatility] and how to mitigate them. Use clear, jargon-free language suitable for [TARGET AUDIENCE, e.g., first-time entrepreneurs or seasoned business owners].