It amazes me that a large number of entrepreneurs and business people do not know their exit, when it is planned and what they will do afterwards. That’s THE most common reason that businesses do not exit for a value (sell, list, whatever the route to generate a return on investment).
Its not just about a business plan (I MAP my businesses but that’s a whole different topic), its also about a plan for your life. If the 2 are not congruent, then that is going to cause pain in your life and ultimately could jeopardise the exit for value.
You should check in regularly to make sure that you are on course to exit on your terms (there can be no guarantees, but I will guarantee that if you DON’T take notice of your life direction, the optimal ultimate exit becomes even more unlikely).
So how do you do this (you’ve probably heard all of this)…
- Have a vision for your life (10,3,1 year);
- Break it down into personal and professional visions;
- Break it down even further into categories in your life (eg personal .. health, fitness, relationships; Professional.. business, money, marketing, personnel etc etc);
- Then set your goals (outcomes for the next 3 months, 6 months, 1 year etc to reach your ideal outcomes).
- Work towards these each and every day and measure diligently so that you know if you are on track or not
Don’t leave the future of your life in business to chance, plan and execute it with precision (and have fun, its not that serious!).