ExitI sometimes talk to people about the exit plans for their business.  Most people haven’t really thought about it much, because they’re busy trying to keep their company above water.

But even if you don’t ever plan to exit the business – or maybe that date is 30+ years away – this discussion can give you insights.

Why?

Because it gets you thinking about what the company is without you.  Which raises some REALLY fascinating questions:

  • If it weren’t me leading the company, how would it be different?
  • Do I want this company to survive me?
  • How much do I care about continued stability for employees?
  • Is there something unique we bring to our customers that I really care about?
  • How much of my personal identity is tied up in this business?

In most cases, it really isn’t that important for you to have a formal exit plan – unless that’s starting to look probable.  But it’s important to THINK about these kinds of questions, because you’ll learn more about who you are.

And your business will be healthier too.

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