You don’t immediately think, “I must plan for an out, when I have just jumped in.” But this rational is indeed so when it comes to entrepreneurial success. This is your baby- you have planted watered, tended, weathered and harvested only to see your field of dreams in the rear-view mirror instead of the windshield.
Exit Strategies allow you to plan your Out– You ultimately want to optimize the best situation rather than escape a bad one. Exit strategies are about succession planning and successful transitioning. I created a YouTube video that talks about various ways to escape.
THE WHOLE OF THE MATTER-Just as you plan to build the business to be profitable, plan to leave the business with a profit.