Exit Plan

Have you heard about an Exit Plan? If you are an Entrepreneur, you should take note of this strategy from the time you have initiated your business. Exit Plan can be a strong factor to give you the drive within yourself and your organization. The summary to Exit Plan is when you have strategized and documented for your own reference, on what is your exit strategy. You need to determine, at which level of confidence, financial security and timeline that you intent to derive your next step. In simple terms, I am giving you an outlook to what you should already be doing now, for your future.

To have an Exit Plan, you will need to look in your Life-Exit Plan too. What is driving your interest? Are you having plans to start a business, wanting a family, decide to travel globally on holidays, cars, house, luxuries and more? Are you dreaming of your Ferrari or Lamborghini?

Are you someone prudent, who wants to be debt-free, have the comfort of reasonable house and a family that you can reflect on? Are you planning to manage your business and plan to keep on going until you drop dead? In any one of the above examples, do you have a concrete plan that assures you the path to which will designate security at all levels?

What security you ask? Is your company resilient to economic changes, global slowdown or competitors? As a business owner, if a mishap happens to you like death, for example, what happens to your company? Do you have safe and secure plans in place, to which your company and its employees are well secured to run the operations in your absence? Will the momentum you had created, manage to only live with your goals, but not within the company and your employees? Have you considered these circumstances before?

I am consciously aware that death is something I cannot avoid. It does not send me a sky-gram with 90 days notification, that I am going to expire from this humanoid life form. If you had near-death experiences in your life, you may be seeing everything around you differently, including yourself. So, what then? Do you draft your Exit Plan thinking of all the things to do before you die? Nope, not this either.

An Exit Plan is your Plan For Freedom.
Maximus @ MaximusPrimo.com

An Exit Plan, is when you firmly ‘plan the date’ that you no longer be managing your business. If that includes, selling your shares in the company, then it is clearly a challenging plan indeed. It is not going to be any easier because letting go of your life’s investment, looks contradictory to your initial dream.

Exit Plan can also be a reflected as a Consequential Plan. You will need to be clear about what consequences you are willing to take, during the whole process. It is a journey, that will not be what you actually expected to totally fulfill at the end of your plan, because through the time line you have created, your journey will expose you to all the tangible challenges as well.

So, what do you need for your Exit Plan to work? For a start, Positive Attitude will bring you a long way. A strong vision of the end journey, that you have already sighted initially. Honestly, very few people I have met in my life, fulfilled this requirement. This also means, that it is something possible to achieve, if you keep your goals well within your timeline.

My only advice here is that you need to ensure that your ‘key factors’ are always kept in close watch, mainly your family and your personal sense of sanity. Believe me when I say this, if you cannot keep your mind held strongly with your decisions and its consequences, you will face the inability to clearly visualize the purpose of an Exit Plan, during the course of your life.