What's Your Exit Plan?

by popstocks Banned
16 replies
hi. So how are you planning your exit? Do you have one?

Mine is $3million....and i retire.

You?
#exit #plan
  • Profile picture of the author muffty
    Hi Popstocks,

    Sounds good to me but far less than that would suit me!

    Keep your fingers crossed that the PopStocks don't Crash & Burn!!!
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  • Profile picture of the author hebsgaard
    An exit plan?

    That's something I haven't really given much thought. I'm not sure I'd actually want one. Meaning, off course it would be nice to reach a number that allowed you to just kick back for the rest of your life if that's what you wanted to do.

    Personally, I don't think I'd want to do that. I mean it would be great not to have to work anymore. I still think I'd want to though. I love my business. Can't really imagine not doing what I do in one capacity or another.

    $3 mill. sounds nice though.
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  • Profile picture of the author popstocks
    Banned
    Got to have an exit plan though....or you just keep meandering through.

    Muffty...."HOPE" is a four letter word for the ignorant.
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    • Profile picture of the author hebsgaard
      Originally Posted by popstocks View Post

      Got to have an exit plan though....or you just keep meandering through.

      Muffty...."HOPE" is a four letter word for the ignorant.
      You're probably right.

      As far as I'm concerned I'm still working through my entry plan

      Doesn't mean it's too early to think about the exit plan. In fact, the exit plan should probably be the final step of the entry plan.
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      • Profile picture of the author popstocks
        Banned
        [DELETED]
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        • Profile picture of the author hebsgaard
          Originally Posted by popstocks View Post

          Imo it should be the 1st question you ask. Might stop you wasting time in things that cannot
          achieve your goal. If you have no idea where you want to go...how can you start?
          There are goals which are more immediate than the exit plan. At least for me.

          I do know what I need to achieve to be able to retire confident in the knowledge I'll never have to work another day in my life. However, there's more to an exit plan than a number. A number is a good starting point, I'll give you that.

          Have you considered what you're going to do if the Internet suddenly ceases to exist? I know it's a ridiculous notion, but considering what you're going to do if things beyond your control kills your business should be part of your exit plan, shouldn't they?

          EDIT: What happened to the post I was quoting?
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  • $3 mil is not an exit plan. It's a number
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    • Profile picture of the author Runboxxx
      Originally Posted by Declan O Flaherty View Post

      $3 mil is not an exit plan. It's a number
      Exactly my point!
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      • Profile picture of the author agmccall
        When I am finished I will exit.

        Can we please have a sub-forum for useless waste of time questions. We can call the sub-forum "Get your post count up here"

        al
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  • Profile picture of the author Samuel Adams
    Why would you just stop at the end of the road at some imaginary checkpoint? Won't there be another road to travel on? That's always the way in life. Even if you get the money you want and retire, you'll just have to find something useful to do with your life. Maybe laying around on the beach all day will get boring. You'll need a hobby then. So back to whatever you were doing before to fill your spare hours.
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  • Profile picture of the author art72
    Exit plan?

    Heck, I'm still trying to figure out how we got here!

    As far as a 'retirement plan' which is what I am assuming you are speaking of(?)- I had set some early goals in life that centered around a specific number of dollars I intended to acquire to afford the lifestyle I desired.

    Funny thing being, those numbers are far less (in value) today, than they were then... as the rising costs of living and inflation has by far exceeded my prior predictions.

    Ultimately, my 'exit strategy' is to establish a membership platform that offers members far more value than they could purchase independently... the numbers in my head look a little something like this;

    30,000 members @ $500 per year ($1.37 per day) = $15,000,000.00 per year NET

    Less 60% for operating costs, affiliate commission, etc... = $9,000,000.00 operating costs

    Estimated Annual Gross Profits (*excluding other investments/tax shelters) = $6,000,000.00

    Assuming I live another 10 years, which who knows = $60,000,000.00

    Compound the interest & factor in other investments = $40,000,000.00

    So, if we're gonna put a number on it, why not $1,000,000,000.00

    To which I donate 90% to charitable organizations - my kids (3) split the remainder, they will each have approximately $33,000,000.00 each to squander.

    Worst case scenario, I die trying and I get to 'experience' what happens when that mysterious energy within finally escapes the imprisonment of this flesh... muuaaahhhh!
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  • Profile picture of the author datingworld
    Originally Posted by popstocks View Post

    hi. So how are you planning your exit? Do you have one?

    Mine is $3million....and i retire.

    You?
    Trust me when you will have $3 Million, you would want $30 Million (this is human nature )
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  • Profile picture of the author brettb
    Acquire cash and turn into rental property. That's the plan I've been following.

    I might sell some sites on Flippa soon though. It's getting very hard to get new stuff off the ground, especially if you're a product creator rather than a marketing guru.
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    • Profile picture of the author Shadowflux
      My exit strategies are still up in the air but I have been considering them. I think they're important because you can't measure your own success without an identifiable goal.

      What I've done is develop a system that allows me to have diversified income sources, as well as diversified traffic sources, that operate somewhat independently from the each other.

      With this system I can add or remove income sources whenever I want while still tapping into the traffic sources and other marketing.

      If Income Source 1 makes a good amount of money but I get tired of it, I can sell that entire segment of the system as an already up and running income stream. If I need a good amount of capital to invest in another idea, I can sell a few income streams while still keeping the overall system intact.

      So my exit strategy is to reinvest in projects that will yield an even higher return.
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  • Profile picture of the author talfighel
    OK, you retire....Then what are you going to do?

    You do need to do something not to be bored so for me, I will always come online, do what I got to do in my daily tasks, and that's it.

    I might scale it down a bit but will always "work" 5 days a week or so.
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  • Profile picture of the author MarketingBees
    $3,000,000 would be nowhere near enough to retire on. Not here anyways! It sounds like a nice number but when you think about it, it's not enough in the slightest.

    Got to be honest, even if my bank account hit $100,000,000 I can't see myself 'retiring' or 'exiting.'

    I love what I do. It's not just a job. I don't just do it for the money. But I do it for the enjoyment factor.
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  • I do have an exit figure in my head and I do plan to stick to it.

    What will I do afterwards? no freaking clue, but sure as hell I won't be working 12 hours a day, no matter how much I enjoy running my business.

    By the way, I dont think $3 Millions are enough to retire farily young now a days on a western country.
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