Friday, September 25, 2009

Be Prepared for Any Situation

They say that necessity is the mother of invention and I am finding that to be more true daily. My health recently turned bad making it all but impossible for me to continue to effectively run my company. I had already begun to implement an exit strategy that would allow me to step down on April 15th and move onto other projects as my business continued to net me profit under someone else's guidance.Now I see a need to step down sooner and limitations being placed on what, if any, future projects I will be able to head.

This has become both disheartening and a blessing in disguise at the same time.It forces me to do what I would have never considered before by structuring future projects to run without me from the very start. I must admit I do love to be in charge but I must also admit there will be times when I simply can not be. The lesson I am learning the hard way could be utilized by any entrepreneur that simply pays attention to my own flawed business plan.

My advice to all entrepreneurs at this point would have to be not only to build your business with an exit strategy in mind but to also account for an emergency exit strategy should the need arise. I will continue to build more companies and to watch each of them grow with the same enthusiasm as I would my children, I will just do so with a plan in place should I be forced to step down earlier than my original business plan calls for.

No comments: