In working with commercial real estate investors oftentimes as part of the investment strategy we discuss exit strategy. You know, how long to you plan to own the business? How long do you want to own this income producing asset, etc.? And then how do you plan to dispose of it.
In our personal real estate careers, careers in general, and life overall, there are phases and you don't want to end up saying
I Have That Exit Strategy Somewhere Here In My Bag.
In other words, they and you, are essentially saying you are CLUELESS.
I'm here to tell you that it is all right. The first step in stopping being clueless is to know you are clueless. In today's busy world who has time for planning one step ahead even? Well you really should best you can. Life can throw all those detours and roadblocks in our way of course but if you put in your bag at least a small map of where you are going scratched out on a napkin the next time you are in Starbucks, you will be way ahead of the masses.
Think of the exit strategy as the point in time where where you are closing the one door and the next door (your plan) is where you are headed. There is a fun quote that says when one door closes the next one opens, which is all well and good but the hallways are bitches (pardon my French) <Smile>.
In life make time to plan, do it at the Starbucks, on your summer vacation, under the night sky, in your recliner with the TV off, but do take a little time to map out those exit strategies.
Oh, and by the way, there are some instances you don't have all day to plan your next step, and you have to think quick on your feet.
Like getting out of a speeding ticket <Smile again>.
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