What is your exit strategy? or how much is enough

28 replies
My plan is to own a vineyard before the age of 40, I could buy one now but Im no where near 40 yet. Wife, kids, blah...What is your exit strategy to this crazy, computer focused industry.

or...is it the silk screen all the way.
#exit #strategy
  • Profile picture of the author Alex Barboza
    To open Spanish schools for English speaking people in Latin America (Panama, Colombia and Uruguay). I am a language teacher so I think this would be easy to me. I just need the money
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  • Profile picture of the author David Keith
    i retired 2 years ago at the ripe old age of 30. i spent the time traveling and just living life. soon i will start another online business of some sort, but i really plan to spend a lot more of my time working in and around the education industry.

    i think it is an industry that has a real lack of entrepreneurship and innovation. i think if a few more business and marketing people took our talents in that direction we could really do a lot of good.
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  • Profile picture of the author Joseph Robinson
    Banned
    Exit strategy? I'm going to bomb everything and act like I was never here lol.

    To seriously answer your question: when I have at least a Master's Degree I think that it will be enough for me. I have my dream job set already and unfortunately it is not on the internet. I'll make the most of the time that I am on here though.
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  • Profile picture of the author oda
    Just a Small farm, Grow some vegies, have some chooks, milk the cow.

    Also it will allow us to build housing for our 2 kids, because the way things are going that will be a MAJOR issue in the future for them I believe.

    If I can remove the burden on them of needing to worry about paying for a place to live then my goals are complete.

    It would be nice to not be able to hear my neighbors stereo or them break wind as well. Its funny when I do it, not when they do. At least not anymore.
    What the hell are they eating?

    Once my farm is paid for and there are 3 houses built on it, I am pulling up stumps and going on a very long fishing trip.
    "Think Robson Green's Xtreme fishing adventures"

    Good luck to everyone in achieving your goals, and to "thejustwarrior" when you produce your first vintage I'll take a bottle or 2 and toast you from the back of a fishing boat somewhere to compliment the catch of the day.

    Onward and Upward!

    Oda
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  • Profile picture of the author TheJustWarrior
    Mate ur dreams are righteous. From go to woe, on the right track. Space for ur family and a place the kids can always return to if the "city" gets too hard. perfect.

    Im lookin in Mildura now but possible mid coast NSW, the first bottles sent direct to your boat
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    even if you're on the right track, you'll get run over if you just sit there

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  • Profile picture of the author manocans
    That is a good plan. I am planning also to own a rubber plantation.
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  • Profile picture of the author ibacklinkpro
    I also plan on going back to brick and mortar businesses once I have enough capital, I'm interested in things like gas stations, rental units, apartment complexes, hotels, resorts... (probably in that order)
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  • Profile picture of the author dadamson
    Most people here are still concentrating on their entry strategy!
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    • Profile picture of the author TheJustWarrior
      Originally Posted by dadamson View Post

      Most people here are still concentrating on their entry strategy!
      Yeah fair enough, but without an exit strategy in mind, where is all this busy-ness taking you?

      Without an "end game" in mind, you got no play, no structure and no time frame.

      Concrete steps require an end vision.
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      even if you're on the right track, you'll get run over if you just sit there

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  • Profile picture of the author Mike Anderson
    Banned
    People think that brick and mortar businesses are more stable than IM but I think the exact opposite. In any industry it's never longterm or stable. That's the cold truth.
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  • Profile picture of the author Marketing Fool
    Exit strategy? Exit from what? I'm 33 years old and literally never had a real job...been doing this online stuff full time since 1996... I didn't really need to put on pants today...*shrugs* exit? Never!
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  • Profile picture of the author itrepreneur
    Hi all.
    I semi retired at age 40 through building up a property portfolio of positive cashflow property both in Australia and UK. So the exit is sort of done but so is boredom!!

    That's why I'm now learning as much about IM as possible because 1) I'm interested in it, and 2) I LOVE making money!!

    Cheers
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  • Profile picture of the author stevenalowe
    Originally Posted by TheJustWarrior View Post

    My plan is to own a vineyard before the age of 40, I could buy one now but Im no where near 40 yet. Wife, kids, blah...What is your exit strategy to this crazy, computer focused industry.

    or...is it the silk screen all the way.
    There is no exit strategy (death is not a strategy y'all, it's an inevitability...for now).

    google "lifestyle design"; read Tim Ferriss; live now, not for some distant future

    Suppose you turn 40 and buy a vineyard - how will you advertise your grapes and wine? Probably by using your IM skills...!
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  • Profile picture of the author kolbywhite28
    $20,000
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  • Profile picture of the author TheJustWarrior
    OK, I could be trying to sell ice to eskimos here. I totally understand, what IS there to exit from when you are free from working in a j.o.b. what more could you want.

    I guess my question is aimed at people who are building a business online with an exit strategy in mind. Some posters above "get it" others think i am actually suggesting that they stop doing what they enjoy. Totally off the mark.

    Associated content was sold to yahoo recently for $19 mil

    youtube the guys in the garage got over $2 bills

    nevertheless thanks all for chiming in.
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    even if you're on the right track, you'll get run over if you just sit there

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  • Profile picture of the author consultmartins
    One of the most important part of your business plan is your exit strategy. Think Bill Gates, youtube, Facebook and the rest. For me, my exit strategy is to retire when i accumulate assets worth a billion us dollars.
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  • Profile picture of the author Willie Crawford
    I'll probably NEVER completely retire. Most of the people that
    I've watched do that didn't really seem to enjoy it that much
    unless they found something else that gave them a sense
    of purpose.

    I'm already diversifying into things like real estate, and niches
    offering long-term residual income. I'm also outsourcing and
    turning many things over to others to manage (delegating)
    which is the key to real business growth.

    My exit plan is to gradually scale back on day to day involvement
    ... working IN my businesses, and spending more time with family,
    friends, traveling, etc.... but I'm already doing more of that

    As someone else posted, my ultimate exit plan is death

    I do build businesses that I can sell some day if they ever
    begin to not be fun!

    Willie
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    • Profile picture of the author PamE
      My dream is to own a ranch. Not a farm, farming is hard work! Lots of property, surrounded by pine trees....

      So what would you do? Leave the websites up? Sell them? Give them to the grandkids? I don't see myself stuck to this computer when I'm 60, so yes a strategic exit is necessary. But I haven't looked that far ahead.
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  • Profile picture of the author timb98133
    I love the winery idea!! My passion is acting. One of my dreams is to start a traveling children’s company! I toured with a children’s theatre company a few years ago & it was a blast. I would love to do it again!
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  • Profile picture of the author dutchguy
    Spend more time with my family, travel, charity work and do more fun things (including IM).
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  • Profile picture of the author WiFi
    Stick with it. I have no exit strategy.
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    WiFi
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  • Profile picture of the author sadiecopywriter
    Lets see...if I had all the money and time I wanted....
    I would love to be able to buy a nice house, a few investment properties, a new car, go on a yearly cruise and take every tour my area offers. (We have a lot of tours.)

    I would also love to be able to have the time volunteer more. (Right now, I can only volunteer IM skills.)

    I would love to have the time to help run the charity art auction, work in the thrift store that raises money for abused women and children, mentor a child and cold call for fund-raising. (Right now, I don't have time to fund raise for more than one charity.)

    I'd also like to volunteer at our local aquarium, historic sites and the children's museum.

    As far as money goes, I would love to donate more to the food pantry, write out a fat check to the alley cat rescue, the arts council and the BPW scholarship fund. I would also like to go to at least one charity auction and make a ridiculously high bid on something just because I know the money would be going to good cause and it might get others to bid higher.

    And I'd like to teach at the community college.
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