Much is made of analyzing the personality traits of successful entrepreneurs.
Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are frugal with their finances.
Their diversity can lead one to the conclusion that there are no common personality traits among successful founders.
I was re-visiting the Survey of Owner Readiness that our Exit Planning Institute (Twin Cities) Chapter published a couple of years back, and I was reminded that it says 99% of business owners agree that they should have a written exit plan.
Simply put: an exit plan is a written document that describes the business owner’s plan to exit the business according to his or her terms.
But what does that REALLY mean?
Really, an exit plan is the beginning of an “exit process” and more important, perhaps, than the plan itself is the act of planning.