165. What's Your Exit Strategy?

I’ve been talking recently about the identity crisis that happens when you begin to uplevel your life. One of the things that helps me align with my actions is thinking about how I’m going to gracefully exit before I start something new. It might sound backward at first, but knowing that I have a plan for how to get out of a situation, if and when I have to, makes me feel safer and more confident in the moment.

We feel like we have to carry forward everything we have become, but if we do that without considering how to integrate it into what we want next, we get bogged down and stretched thin. It’s important to be clear about who you need to be and what role you need to play to launch into your next project, and that we don’t make any concessions on that evolution. Being set on your exit strategies helps you appreciate the moment for what it is, infinitely valuable. 

How to Plan an Exit Strategy

• Identify why you are going into this next business/endeavor in the first place. Your purpose for entering will help determine your strategy for exiting.
• Are you going to package your business and sell it to a new operator?
• Are you going to shut it down and let it come to a close?
• Will you look into acquisition?
• Could you replace yourself in the business and continue to own it?
• All of these are defined by what you are trying to grow into and what you want next.

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