What is Your Exit Strategy?

            I am sure that we all have discussed the heck out of the housing slump, bank, and investment company failures and how the very institutions that caused the problem have inappropriately used bailout money. So, now that your 401k is substantially less than what it was a year ago, what are you gonna do? What can you do? Did/do you have a plan B? Plan C for plan B?  Alternatively, have you decided to work until you are 70yo not for the love and passion of what you do but because "I work therefore I eat."

            "Begin with the end in mind," says Stephen Covey in his book," The Seven Habits of Successful Living." Those who have created a successful business know it does not happen without planning, hard work, and a little luck. Yet most have no exit plan for leaving their business. The truth is that most business relationships do not have happy endings. To have a successful business, you must plan for all four D's of a business exit strategy.

The idea that your business will provide you with income after you are no longer there may not be a reality. You have to depend on yourself. Take the time to look at the four D's of a business exit strategy: death, disability, divorce, and departing. To have a successful business, you must plan for all four D's. [Taken from the World Wide Web; 05/02/09; http://sbinformation.about.com/od/buyingorselling/a/ucexitplan.htm] Another 'D' needs to be added to the list, downsizing.

 When downsizing happens to you or your position get shipped overseas, take the time to explore your passion and interest. Explore and reconsider if you were happy in that position or company? At the end of the day did you feel fulfilled and that you made a difference somehow, somewhere? If not consider a career change. Start out be "Who moved my cheese?" by Spencer Johnson, MD. There are also versions for kids and teens. If you want to see a summary of the book before you buy it, click on the link below. http://www.authorstream.com/Presentation/mayank.sabharwal-143095-moved-cheese-864859-22196-education-ppt-powerpoint/

Explore and take those seminars and classes that you always said you wanted to take but never did because work, family, and life responsibilities got in the way. In other words, take time for yourself and give yourself time to heal, to rest, to dream and live again.

 "Free your mind and your a--will follow" (song title and words by George Clinton, Eddie Hazel, Ray Davis of the Funkadelics, from the album title of the same name, 1970, Bridgeport Music).