Are you ready to go broke?
‘Exit Plan’ is a must have plan for every business.
Many mistakenly understood ‘exit plan’ as ‘selling off’ business or stop doing the business.
There are many ways and plans of exiting a business.
Successful businessman out there, have more than one business.
They plan strategically and the public can read only the tactics.
This is the story…
Once, I have decided on an exit plan of a business, I was asked by the financier, whether I am ready to go broke for the decision I have made.
I told the officer in charge, “Puan, any business liabilities, I will pay it with the money from my business activities.”
Then she asked again, “How are you going to pay from your business income, if you exit from your business? Are you ready to go broke?”
I smiled. I said, “Puan, I am only exiting from a business. Closing one shop and selling it off, does not mean I am out of business!”
“Oh…so you have another business plan?”
“Absolutely! Who said that once I exit from my first business, then I will be out of business?”
We both smiled.
