A Success Mindset For Your Exit / by Kerri
Your success mindset in the business uses your experience and knowledge from the past combined with your refined skill set growing the business today to get results today.
Your success mindset for growing the business, growing the team, adding capacity and building a stronger business foundation probably has nothing to do with when and how you’ll exit the business.
More than likely you never built an exit plan into your business plan at the outset. Today, entrenched in your success and growth mindset, you don’t have time to focus on the future coming closer every day.
In order to let go of the business, get out and pursue your reinvention, you need to cultivate an exit mindset. It’s not the demise of the business; it’s a new beginning for you in a new direction and a new beginning for the business under new management.
It’s easy to let this slip. We’re all more comfortable with old habits than building new ones. It’s easier to ship standing orders and keep marketing costs down because the market is still soft.
But those habits conflict with your exit objectives. That conflict first takes hold in your thoughts. When you struggle with cultivating an exit mindset to shift your priorities away from day to day operations and start applying effort and time to the strategic side of the business to prepare it for a new owner – that’s when it’s easy to sabotage the whole exit plan. That’s when you see owners who tell their advisors to get things lined up and seek out potential buyers but can’t let go enough to sign the papers.
The exit mindset is a process to work through to ensure you are rewarded for the value you’ve built up in the business and to prepare you for what’s next on your terms and on your timeline.