Today, you'll meet entrepreneurs who poured their lives into the task of creating something out of nothing, but then they came to the point that they felt it was time to go in another direction: they sold their baby. And though it can be an excruciatingly painful decision, equally painful is the decision to just shut the door.

Every year, there are hundreds of thousands of business owners who do simply that. Today, you'll meet three of our favorite people who will tell you why and how they sold their companies.

(Voiceover) Since they can all do what they what they want to do when they want and where they want to do it, it didn't take much arm-twisting to convince Lorraine Miller, Jim Schell and Peter Schneck to come to our offices in San Diego. I asked them why and how they sold their business