Episode 533: “How would you advise small business owners to best prepare an exit strategy?”

Today’s episode was recorded on a boat during activity day at the Diamond Mastermind in Costa Rica at the new MOBE Resort, Sunset Del Mar, with Diamond member Deb Lytle, who lives in Florida in the USA. Deb wants to know how I would advise small business owners who are trying to plan their exit strategies.

I talk about an entrepreneur who I have followed for years, Michael Gerber; who wrote an excellent book called The E Myth Seminar which addresses building and exiting your business.

I talk about the pitfalls that can happen where you build a business to gain freedom; yet you end up working so hard in and on your business that you forget your original plan was to be free.

I discuss the processes you need to put in place so that your business can run without you – so that you truly have a business and not just another job. I explain that part of that documentation process of getting your procedures in place is critical to the planning of your exit when you are ready to move away from the day to day operations.

To learn how to build your own online business, join the MOBE Affiliate Program.

For tips on how to grow your business, click Here.

If you like this video marketing tip and want more, go to AskMattLloyd.com and subscribe, and I’ll send you a new one each day for free.