The very first thing a new business owner should do, after putting together their business plan, is to develop an exit strategy. Ask yourself 3 important questions:
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When do you plan to exit your business?
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How do you plan to exit your business?
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What value do you want your business to have at time of exit?
Even if you don't know the answers to these questions right now, it's important to begin to ask yourself these types of questions and begin to sort out your answers.
I found a great article on Entrepreneur.com that details 5 potential exit strategies for a business owner to consider. Take a look:
http://www.entrepreneur.com/management/operations/article78512.html
So, what are Your Thoughts? Is your exit strategy in place?
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