What is an Exit Strategy?
Depending on the person you’re talking to, an exit strategy can have multiple definitions. In general, though, an exit strategy means a departure from your current state of affairs to another one. Whether it be personal or professional, your exit strategy is the process you go through to take on a new endeavor, ideally done to enrich the quality of your life and give you financial security.
Other definitions of an exit strategy include the process of selling off ownership through a succession, sale, ESOP, or IPO. You may also hear an exit strategy referred to as an interim transition strategy, which is the process of expanding services or relocating the company and other processes that work to advance the company.
Think of what it takes to create a building. You don’t just magically walk into a new structure. Instead, you have multiple processes to go through that involve a variety of skills and expertise from other people. Having a blueprint of what you need will guide all those trades to effectively take your idea and turn it into reality.
Your exit strategy is like each tradesperson that comes to add more to the building. The goal is to have a property that you love and plan to stay in for many years to come.
Business Dynamics will work alongside you to come up with an exit strategy that suits your current situation, and one that will reflect your goal in life.