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September 1, 2015 By Kim Hughes Leave a Comment

Develop Your Exit Strategy

Exit StrategyThe start-up of a business is often all-consuming for a period of time – the owner of a new business is focusing on name and brand recognition and building a client base. Day-to-day demands leave very little time or energy for anything else. And that is what is required initially.

However, it is risky to ignore a long-term vision for your business. As with all our endeavors, we must set goals and plans that aim for our vision. Otherwise, when the time comes to end your association with the business you have created, you may not realize its full value without a strategy to exit it.

Certainly you will have invested much time, money and effort in creating a lucrative business and it would be unfortunate to simply close the doors. What, then, will your strategy be?

Think in terms of having your business outlive you. Because you will no longer be the principal involved in the everyday operations does not mean you should completely stop doing business. Develop a plan to either turn over your business to a key employee to continue it in your retirement, or a plan to sell the assets you have created. An established business with brand recognition already built and an excellent reputation for client service has a great value.

Although you may still be in the building stages of your business, now is the time to begin to develop your vision of what your business will ultimately be and build the value it will possess. In order to avoid losses when you leave the business, begin to work toward your final goal contained in your exit strategy. Begin your assessment of how to obtain its full value even though you retire or leave it.

When you have invested so much of yourself in creating your business, why would you simply give up all its value by closing it and walking away? Develop your exit strategy early enough to have your business outlive you, and the rewards could be greater than you ever imagined.

If you don’t know where to begin in developing your strategy, or just don’t have time to do the very important task of putting it in place, contact Kim Hughes for a consultation. We can help devise a plan that is just right, and at no burden to you.

P.S. Imagine you were offered the opportunity to be coached both on-site and virtually – by the leading expert in the real estate assistant industry through the 10 most important areas of a real estate agent’s business. Introducing the Real Estate Assistant Playbook. Designed for both real estate assistants and agents, The Playbook offers the training you need to excel in the business of real estate today! Visit TheRealEstateAssistantPlaybook.com for more information.

Photo courtesy Flickr.com/audi_insperation

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Kim Hughes | Real Estate Strategy Coach

Ready to create a strategy to improve your business on all levels? Schedule a private consultation to discuss your specific needs today so we can create a strategy that is customized to you and your market. Call or email me and let’s move forward in executing your vision.
 

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PK Hughes, LLC – dba Kim Hughes & Company, a Texas Corporation formed in 1999. .
Kim Hughes & Company offers real estate virtual assistant services to real estate agents by providing strategies with solutions on how to run a successful real estate business including marketing, social media marketing, blogging, not to mention implementing and managing everyday support services.

 

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