What Is An Exit Mindset? / by Kerri
Mindset is the most critical of the three pillars, the hardest to develop and it’s the pillar you must reset and anchor first.
Your mindset about your exit includes successes, challenges, mistakes, expertise, motivation, confidence, joy, satisfaction about all you have achieved in the business since the beginning when it was a glint in your eye, through the intervening years to the present; as well as the mindset you bring to the exit process over the then next 2-5 years.
Your mindset when you started the business was based on assumptions, enthusiasm, belief, courage and passion. You were invincible and persistent in your devotion and commitment to do whatever it took to make the business thrive. You never let doubts interfere with your goals, ambitions and conviction that you could achieve your most audacious goals. In a young company, your mindset focus is always forward.
Your mindset over the years has settled a bit. You’ve learned a lot of lessons through survival and growth. You have different assumptions now about business, the market, your clients, even your team, based on years of experience. Your attitude could be as happy and confident as when you first opened your doors but your mindset is based on a wide breadth of experience now, not just enthusiasm. Or, time and experience could have taught you to narrow your focus to what you can control and address today; to focus on the orders coming in and what marketing it will take to increase those orders.
Your mindset as you grow the business expands to include wisdom and insight from past experience to contribute to goals and decisions today. That’s where most business owners are flourishing today. The only thought they have of the future is achieving the stretch goals they set for the business for the next 12 months – not 3 years or 5 years, never mind a future any further ahead.