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The Exit Strategy Decision

By
Real Estate Broker/Owner with Pareto Realty TN #251071

Often, dissonant ideas show up simultaneously.

Such is the case for me the past couple of weeks as I have been exploring new opportunities for personal and professional growth.

Yes!

I’m experiencing another one of my “3 year itches” . . . It seems that, for my entire life, I’ve had this masochistic need to shake things up even as they are humming along swimmingly. This is how I grow, and so when I get this itch, I take action.

So here I am evaluating everything – especially my goals for myself and for Pareto Realty my Real Estate Sales firm, and I am choosing to choose a path of GROWTH in all respects.

I’m smart enough to know that I must engage folks smarter than I to raise my bar of effectiveness and performance, so I have been seeking an appropriate Educational Program which I would hope also to provide a strong base of Mentoring and Accountability.

I think I’ve found that program and have taken the first step of applying . . . and am eagerly  awaiting confirmation of approval because I KNOW that THIS program is THE program for ME NOW!

One of the many reasons I believe this is my right program for now, is that in the “Informational Session” for the program, I quickly understood that everyone in the room was in EXACTLY the same place as I . . . entrepreneurs seeking to learn and share the wisdom from/with other entrepreneurs in an environment that would incubate something akin to a “quantum leap” to a new level.

I also heard many mention this concept of “exit strategy” . . . A notion with which I have been in conflict for years because of these 2 nagging questions:

  1. How can you grow a healthy company when your “goal” is to EXIT?
  2. Aren’t you interested in being able to RETIRE with financial security and leaving a legacy?

On the first question, I think every time I fly in an airplane . . . When you fly, do you want the pilot to be SO committed to getting the plane off the ground that he accelerates FULL throttle with full commitment . . . rather than tentatively easing the throttle up with the idea that if the plane doesn’t lift fast enough, there’ll be enough runway remaining to stop the plane?

We don’t think of “Leaders” as being “quitters,” and some folks equate “exit strategy” with “quitting.”

and then there’s this notion of leaving a legacy . . . We’re all going expire (die) one day, and none of us know when that day will come. Most of us want to be remembered for something. We wonder what people will say about us at our Funeral and what will be inscribed on our tombstone.

If we build an organization that relies 100% on our leadership such that when we die, so does the organization . . . thereby extinguishing our professional legacy, have we succeeded?

The best leaders build great organizations that can run on auto-pilot in their absence . . . and they mentor/cultivate a culture of Leadership within these organizations such that they survive the death/exit of the founder . . . for generations to come . . . THIS is LEGACY!

I challenge you to consider all of the above and apply it to your personal and professional scenario.

Are you working on your exit strategy?

About 

Residential Real Estate Principal Broker and Founder of Pareto Realty, LLC. Creating the quintessential real estate firm with emphasis on "Live, Work, & Play" balance . . . and a true Performance Oriented environment for Real Estate Professionals. Serving the Real estate needs of Home Buyers and Sellers in Middle Tennessee.

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information....Thank you for sharing and have a great day too!

Aug 01, 2016 11:12 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Barry- another great one!  Years ago when I managed an office I was nervous about leaving for vacation.  How would they manage?  My husband reassured me and told me that if I can't leave for a week then I'm doing something wrong. 

Aug 02, 2016 11:47 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

                                Thanks Barry Owen 

Aug 06, 2016 10:47 AM
Barry Owen

Hi Kathy Streib and THANK YOU for including this post in your weekly AHAs. I am always grateful to read all of the great posts you feature each week and am honored when you choose something I publish,

Aug 07, 2016 03:43 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Barry. If you have done it right it will run itself! That is your exit and legacy! Enjoy your day!

Aug 06, 2016 10:03 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Barry Owen ,

I caught this on Kathy Streib 's post of her "Ah-ha" moments for the week. Great post and no I'm not working on my exit strategy yet.

Aug 06, 2016 10:57 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Hi, Barry!  And Kathy sent me.  Lots of good stuff to chew on in your post.  

Aug 06, 2016 11:21 PM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

So glad that Kathy shared this post. I enjoyed it and I believe it's going to inspire many!

Aug 06, 2016 11:39 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I am a non-quitter and have no EXIT strategy. Will keep working until going to work with a cane or wheel chair not taking me where I want to go.

I learned how you blog on your site leaving a number of them in a contigious fashion. I will replicate that.

Thanks

Aug 07, 2016 12:08 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

I love this post and I can see why Kathy chose to highlight it this week!

Aug 07, 2016 12:17 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Great post and I so agree with you - leaving a legacy should be paramount in determining your exit strategy.  I believe our business is one in which many do not consider themselves business owners.  When you do realize that you actually ARE an owner and you DO need an exit plan, surrounding yourself with those who are smarter then you, WILL raise that bar.  Good for you seeking that advice/eductaion for yourself and your business.  Smart man!

Aug 07, 2016 08:15 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

No exit strategy for me...other than my will of course...the BIG exit. 

Aug 07, 2016 10:56 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

When in the corporate world, I found myself looking for a new challenge every 2 years. When in real estate, it seems every day is a new challenge so I'm definitely not getting bored yet!

Aug 07, 2016 08:35 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Barry - most people do not have an exit strategy.   But if you lead and organization you then can sell it.

Aug 07, 2016 09:51 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I have a loosely defined exit strategy in mind. One that allows me to stay on in a lesser capacity to guide the team and new leader for a few years and then ultimately leave, after training my replacement. It will be a slow transition for me.

Aug 08, 2016 01:36 AM