When do you think is the time to start thinking of an exit strategy from a business? I will say the least favorite exit strategy is the failure of a business. And so part of the exit strategy is being ready to leave when you know you've done not only your part, but you've created your own irrelevance. For example, if i have a board meeting, you better be prepared because for that two hours you have all of me.
Thinking about starting a small business? Or looking to expand a business you’ve already launched? Entrepreneurs Stacey Abrams and Lara Hodgson were blindsided by the cash-flow problems and other systemic issues they ran into when trying to scale a new but popular product. They don’t want you to be.
Stacey and Lara share hard-won lessons from starting and running three companies together: first a consultancy, then a manufacturer, and finally a fintech. They reflect on what made their long-term partnership work well and how they manage self-doubt and guilt. They also share tips for networking, hiring and retaining employees, learning the ins and outs of finance, and developing an exit strategy.
Guest experts:
Stacey Abrams is an entrepreneur, politician, and author. She co-wrote Level Up: Rise Above the Hidden Forces Holding Your Business Back.
Lara Hodgson is the co-founder, president, and CEO of Now, as well as the co-author of Level Up: Rise Above the Hidden Forces Holding Your Business Back.
Resources:
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