Figure Out When To Stop
Having an exit strategy for your business is very important. Do you know under what conditions you’ll stop doing business? Do you know how to read the signs of when things need to change? You need a strategy in place to make sure that it happens in the best way possible. Most people have about 5 careers in their lifetime. Only by being honest with yourself will you realize that the same may be true with your own company.
Figuring out when to stop is your exit strategy. It could mean closing shop, selling your business, or allowing others to take leadership. Why is this important? Think of the disappointment you’d feel after investing so much time and money into your business and you weren’t prepared for a particular situation. On the other hand, exiting a company at the right time can be extremely profitable.
This model is for anyone re-evaluating whether they are still happy running their own business, for anyone who sees that their business is growing and is ready to transition to another stage of business and finally for anyone whose business is struggling financially and has been for a period of time.
Topic Objective: Learn the different ways to exit a business and how to identify when to leave.
Your Outcome: Finish with a bang.