When I first began my business, I just focused on staying afloat and (barely) making my bills.
For me, that first period of going solo was all about sheer survival!
I needed to put my nose to the grindstone and just focus on that particular day, and then the next, and then the next.
If that’s what you’re doing, brilliant!
Keep going…
But…
Don’t stay there forever, like the woman whose story I talk about in this week’s video:
Sadly, she kept focused on the day-to-day, every day for her entire career.
This mistake, as you’ll see, was very costly for her down the line.
Hey, I get it. You might still be in the first few years of business, maybe you only have one employee, maybe you have none…
…but it’s never too soon to start thinking about your exit strategy.
Yes, even NOW.
You know, if you’re strategic and you plan now, perhaps you could retire with millions. ;)
And the best thing is that being strategic about this now can actually help you grow your business now, so it’s a win-win.
If you don’t have a plan now for how you’ll exit your business down the line, and start to put some measures in place even now, you might just lose it all one day.
This new kind of thinking requires a shift in mindset.
Watch my new 4-minute video to learn why it’s important to start thinking now about your business in a really long-term way.
And so, this week, I want to make sure to ask you this:
What’s your long term exit strategy for your business? If you don’t have one yet, would it be beneficial for you to start thinking about that now? Why?
Let me know your thoughts in the comments. I want to read about how this gets you thinking and support you in making those shifts now, OK?
Until next time!
Sending you big hugs,
Fabienne
Comments 8
I haven’t thought of the need. Always considered the prospect of selling my business as “selling air”. Need to think wiser, thanks…..
Thanks for sharing, Julie! :)
We are working on it now, as we have one partner that wants to retire in 5 yrs
It’s so great to have a plan, Stacy.
I am writing a book, which should bring in residual income, and I have an unrelated side business that should bring in residual income as soon as it doubles or triples in size. I am also consulting a financial planner for help getting investments set up. At the same time, I’m working towards doing my health coaching at a Doctor’s office, so that I have a steady stream of clients whom I can focus on helping transform their lives in a step by step program.
Woohoo, Connie!!
I am planning to either sell my business or take a back seat as a potential partner steps into place (and take a draw). I have attempted to systematize my business with this in mind.
So glad to hear that, Nettie! Best of luck to you on this new phase. xo