Figure Out When To Stop
You need to figure out when to stop with your business because having an exit strategy 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? Have a strategy in place to make sure your exit happens in the best way possible. Most people have about five 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. You might close shop, sell your business, or allow others to take leadership. Why is this important? Think of the disappointment you’d feel if, after investing so much time and money into your business, you weren’t prepared for a particular situation.
On the other hand, exiting a company at the right time can be extremely profitable.
Review this module if you:
- Need to re-evaluate whether you’re still happy running your own business.
- See that your business is growing and feel that you’re ready to transition to another stage of business
- Have a business that is struggling financially and has been for a period of time.
Topic Objective: To learn about the different ways to exit a business and how to identify when to leave.
Your Outcome: A finish with a bang!