WHY DO ENTREPRENEURS NEED AN EXIT STRATEGY?
IGOR ROITBURG
CONTENTS 01
People Get Burned Out
02
You May Want to Retire Some Day
03
Helps Create Better Decisions
04
Enhances the worth of Your Business
PEOPLE GET BURNED OUT If your business is run only by you, and you are the only face of your business, it can cause serious problems with burnout. Forming a concept in your mind and putting it down on paper about how you'll exit the business and approximately when can facilitate your avoid burnout because you recognize what the choices are.
YOU MAY WANT TO RETIRE SOME DAY Lots of entrepreneurs, especially individual freelancers and repair providers, have the concept that they will simply work forever. the matter thereupon is that you're probably vastly underestimating how you are going to feel in an exceedingly few years. If you're 30 today, you've got no idea how you are going to feel at 50 or 60.
HELPS CREATE BETTER DECISIONS When you have your business delineated from start to complete, you'll need a better time making business decisions than employment. If you're receptive to retiring and someone offers you money for your business, you will be more likely to require up the offer.
ENHANCES THE WORTH OF YOUR BUSINESS
Creating a business that will exist with or without you naturally ups its value. the explanation is that it can essentially live forever if it's adapting and changing supported the market instead of on the people working there.
TO MAKE MORE CASH FASTER
If you're hospitable selling and you build your business to the highest of the earning curve, selling it at that time is a true winning move. once you break it down mathematically, every business sounds like a bell curve with a top-earning moment that may last for years and years - but probably won't last forever.
TYPES OF EXIT STRATEGIES There are several existing strategies that you just might want to research as you're building your business in order that you'll be able to plan on doing what's most realistic for your kind of business. Some options include an initial public offering (IPO), liquidation, mergers, acquisitions, selling and more. what's going to work for you depends on the sort of business, the lifetime potential of the business, and more.
According to IGOR ROITBURG , every successful entrepreneur occasionally makes mistakes in their business. They would not be human if they didn't. It's all a part of the educational process. Although mistakes are visiting happen, you'll avoid a variety of common business mistakes.
K N A H T ! U O Y