Ever thought about what you are going to do with your business in the next five or tens years? What is the "end game" for you? When you first started out there was a vision of doing your own thing, the freedom to choose your own hours and of course a fabulous lifestyle.
If you are focused, identify strategiesand plan out the most effective tactics going forward, you will have a great chance of fulfilling your business vision.
However, to ensure you achieve those lofty goals, start with the end in mind.
Drafting up a strategy for your business and including an exit plan informs your future focus and direction.
Here are some questions to ask yourself regarding your plans for exiting the business.

• Do I want to build the business and then sell it for a large capital gain?
• Will Isell it to a public or private company?
• What about a management buy out?
• Do I want to run the business and then wind it down prior to retirement?
• Am Igoing to sell a percentage (say 70%) and maintain an involvement as a director
• Do I want to sell off the business and perhaps be engaged as a consultant?
• Do I want to hand over the business to my son/daughter?

By planning what your goals are for the business early on in its life you provide targets and a pathway when making important decisions.
Many business owners don't realize the maximum return ontheir investment because the goal to build a profitable well run operation that appeals to an investor (or the competition) was never formulated.
Do your self and your family a favour by setting an exit strategy for your business - you'll be glad you did!