We know when we started our business; do you know when to end 
it? 

It's relatively easy to define our beginning point when we 
started the business and we can certainly define the process 
of running the business. Ask us to define the end or finish line 
and you will probably get the, palms-up salute. Ugh...mmm...Good 
question. - No, *Run it till I drop* is not a good answer!

Take a look at a typical race; say a horse race for the sake of 
a visual. The race starts at an easily defined starting point 
and continues until it reaches a well-defined ending called The 
Finish Line. When the finish line is crossed it's pretty easy to 
determine who came in first, second and so on. In other words, 
it's pretty easy to define the level of success achieved by each 
participant.  

What makes us appreciate a great race is the fact that we see a 
definite start and can easily define an ending. We are able to 
clearly appreciate the efforts of all participants and 
vicariously experience the thrill of crossing the finish line 
with them.

It should be the same in your own business. The satisfaction 
of owning your own business will never be fully realized or 
appreciated by you unless you have defined an ending. You can 
only have an ending by defining it right at the beginning. - 
Can you imagine a race with only a beginning and no finish 
line?  Sounds pretty exhausting and never really satisfying 
for you or anyone else, isn't it?  

Yet many business owners start various enterprises, investing 
and virtually signing away their lives, and never really think 
about where they are racing off to! 

If you are in business now, you may be questioning 'To What End' 
am I doing this? 

Do not despair it is never too late to define your finish line. 
If you are just starting your business, then define a strategic 
ending now and if you are in the middle of running your 
enterprise, take time out to define the ending. 

In business terminology, an ending for a business owner is 
called an Exit. The planning of a defined ending is called an 
*Exit Strategy*.Having an exit strategy speaks volumes of you 
as a business owner. It tells others that have the occasion to 
view your business that; 

1. You are in control of your business from the start.
2. That you are aware and goal focused while you are running it.
3. You have a plan for an organized and profitable ending. 

 
When you have a clear exit strategy, you are better able to 
make the right business related decisions in the moment. These 
decisions will tend to be more in line with your strategic 
vision. 

Here is a small sampling of typical Exit strategies:

· Selling all or part of the business for a nice gain
· Handing the business down to siblings
· Taking the business 'Public'
· Being "Taken Out" by a competitor or vendor 
 
There are many combinations of the above "Exits" and not any 
one exit plan is appropriate for all businesses. The key is to 
start to define your own exit strategy today. Keep in mind that 
defining an exit strategy is a process that requires a well 
thought out plan. This plan is not something you will finish 
in ten minutes and something you should continue to revisit 
as your business grows. 

With your exit plan in hand, work each day at making the 
decisions and moves that will position your business to reach 
your exit goal. Doing this, you will find that running your 
business will be a much more fruitful and fulfilling experience. 
Wining races is not left to luck alone and luck should not be 
your business exit strategy! 

Best of Success, 
Rich Becerra