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Business Sense
An Exit Strategy: Is it Necessary?
8
Coaching World
Heather L. Bradley,
PCC
Heather is passionate about
helping coaches flourish in
their business so they can
keep doing what they love—
coaching! Heather’s business
development clients benefit
from her experience as a
veteran coaching business
owner, successful Small
Business Administration
consultant, published author
and former vice president for
a Fortune 500 organization.
She developed The Coaches
Defibrillator system to help
coaches give their business
a jolt to create the results
they want. Learn more at
TheFlourishingCompany.com.
Every business owner eventually exits his or her business. Some owners
leave by choice (retirement, career change) while others depart due to
changes in the market, circumstances beyond their control or because
someone outside the business changed something that prevented it
from continuing.
As the owner, you are the champion for your business and, specifically, for the future
beyond your personal involvement. Your reaction may be, “That’s way down the road.
I need to focus on getting and serving clients now.” While both are definitely pressing
issues, it is never too early to start thinking about your exit strategy.
You can choose to let your exit evolve organically or you can choose to take control to
influence the outcome. The following questions will help you decide if you want to adopt
an exit strategy:
What do you want for your business? You are having an impact in the world via your
business. You are helping your clients create the changes they want in their life. Perhaps
you have even created models, processes, tools and materials to enhance your work
with clients. Who will continue this work? Who will serve your clients going forward?
What do you want from your business? You have invested in the startup and
growth of your business: funding, training, credentialing, mentoring, networking.
You made the decision to forgo a steady paycheck, instead believing in the potential
growth of your business. Do you want to maximize your return on the investment of
your time and money?