Can I bring in a partner or investor instead of selling outright?

Yes, and bringing in a partner or investor is a genuine alternative to an outright sale, not just a stepping stone to one. Depending on the structure, this could mean selling a minority share of the corporation while retaining control, issuing new shares to raise capital without selling any of your own, or bringing in someone who takes over operational responsibilities while you remain an owner with reduced day-to-day involvement.

The nuance is that this route trades a clean exit for an ongoing relationship, and that relationship needs to be governed carefully from the start. A shareholders' agreement setting out decision-making authority, what happens if one of you wants to leave later, how disputes get resolved, and how the business would eventually be valued if one side wants to buy the other out is essential — without one, disagreements over control or direction can become far harder to resolve than they would be with a straightforward sale.

If your real goal is eventually stepping away entirely, it's worth thinking through, before bringing anyone in, how this arrangement would evolve into a full exit later. A business lawyer can build that path into the shareholders' agreement from day one rather than leaving it to be negotiated under pressure.