Creating An Exit Strategy In Business
It is said what has a beginning has an end, what was manufactures has a shell life and most will have an expiry date. A time comes when engaging in a certain business will be profitable but a time will come later when it is best of you exit.
I used an example of simu ya jamii on one of my recent posts. Back then I believe you would make good money out of it but now, it can be that arm which keeps the petty cash kitty going. A good business person knows when to get into a business and when to leave.
Leaving, doesn’t necessarily mean you are a failure or the weak one. It is how you leave that determines everything.
Those who I have told my car business story, know when people stopped buying cars, I got into hiring. When people started mishandling cars for sale which were up for hire, I started offering transport services. When what is termed as ‘sh*t hitting the fan’ I stopped doing car hire, concentrated on car sales and transport services and very soon, I will shift from car sales and concentrate on transport services and transport solutions. That said, when people stopped buying cars, I could easily give up but luckily I had position myself in a manner such that, I would cushion my fall it I had a fall. Not both my feet were sinking, I had 1 foot and 2 arms left to pick myself up to try pick myself up.
How you position yourself while exiting is very important and that is why it is good to have a strategy. Do not just wake up and quit a job just because you want to follow your heart and yet, that heart is not going to convert your efforts to Kenya shillings immediately. Your landlord will not want to know if you followed your heart or your heart followed you. He will want his payments and that is why if one is not comfortable with the work they are doing now, it is best if they start looking before they quit so that there is a smooth transition. Same applies in business. You may not make as fast and random moves as you may so wish not because there is a system in place, people who will suffer with the downfall and it is best to just be safe than sorry.
Instincts are never wrong. If you have that feeling inside you things are not okay, start working on plan B or is it C. Do not be over optimistic. The world expects you to say the glass is always half full but sometimes it is fast approaching empty, unless you change the fraction before the full, then it would be only fair to state facts as they are that is, half empty
Try not develop a habit of always putting off fires because it may compromise your preparedness in everything and most importantly how one is after an exit. Planning the exit is critical because those who have exited without planning have gotten themselves into debt, got addicted to drugs, others even committed suicide because the task at hand looked too small from up there don’t they all. But on falling, head first, reality hit equally as hard and fast.
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