Exit strategies aren’t just for small business owners; you need one too.

I subscribe to a great e-newslettercalled “little PINK book” from Pink Magazine. The May 24th article is a good one for business owners and emphasizes the need to go really make sure you have an exit strategy in place. This can be really difficult because as the owner/founder; there is always something that seems you are certain is simply going to fail if you aren’t there. There is also the guilt over abandoning something that is your legacy.

Personally, I believe that there are a lot of similarities between business owners and career professionals in the area of exit strategies. Most of us might be more comfortable in thinking of “exit strategy” more in the terms of “plan b” but regardless of what you want to call it, an alternative plan is a must.

Some things to consider when thinking about your own plan:

• What are your current assets and can you write them down (aka Resume)?
• Are there any gaps in your skills (assets) that you should take the time to fill by taking on special projects or attending a training class?
• How healthy is your network and what is your plan to make it healthier?
• What are your financial requirements and do you have a plan in place to achieve “money” goals?
• If you were to do something else, what type of work would you love to do? What job characteristics would appeal to you the most? What would you absolutely hate?

Having a “plan b” doesn’t mean you have to execute it but you’ll be surprised at how much more confident you’ll be in your current job when you know you have other options.

Happy planning!
Maven