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What’s your exit strategy?
The difference between a job and a business – shown by NASA
What do you call something that’s collected 635 GB of data, traveled 4.9 billion miles, and taken over 450,000 pictures in the span of 20 years? Productive? Dedicated? Impressive? What about all three? These are just some accomplishments of NASA’s Cassini, an orbiter that was sent into space in 1997.
After a 7-year journey through space, Cassini went into orbit around Saturn and stayed there for 13 years. It explored Saturn’s rings and atmosphere in ways never done before, sending back information to NASA that helps our understanding of the kinds of worlds where life might exist beyond Earth. A 20-year job is no joke, especially in today’s economy. But that job is now over.
Because Cassini had a job, instead of coming back to Earth for retirement, it ended 20 years of service being crushed and vaporized as it crashed into Saturn on September 15, 2017. This is how Cassini shows the real difference between having a job and having a business. You can’t leave a job, but you can leave a business.
What was your goal when you decided you wanted to start your own business? Chances are, it wasn’t so you could sit behind a desk all day issuing orders and signing contracts. Having your own company wasn’t the end goal. Instead, you envisioned how having financial freedom could make your life better. If you didn’t have to worry about money, you could travel more. You could spend more time with your family. You could pursue the interests that fulfill your soul, perhaps through volunteering or learning new skills.
You decided to run your own business, and most likely mapped out a plan for your company, but you might not have made an exit strategy business plan. Do you have an exit strategy for your business? Or will you crash and burn like Cassini? Some people might think, “What is an exit strategy?” and decide that if you’re just starting a business and already thinking about when you can leave or sell it that you have the wrong mindset. This attitude is false. You have to start thinking of an exit strategy as a critical part of your business.
Watch the video from Tony Robbins below on how to tell the difference between a job and a business, plus what happens without an exit strategy.
Cassini header image courtesy NASA/JPL-Caltech
You might not have the money or technology that NASA has, but you can start making gigantic strides in your professional life. Discover how to create and run your dream business at Business Mastery. At the incredible five-day event, you’ll learn what it really takes to run a successful business, no matter your industry, and listen to some of the world’s leading business professionals, including Tony Robbins.