A businessman with an exit strategy lacks commitment

Do you talk with other business people? Do you interview people? Most people these days lack commitment. Either they don’t want to be at the same job for long, or they don’t completely care about what they are doing. Mark Cuban warns about people who have exit strategies. If you are fully committed to your work or business, you shouldn’t have an exit strategy. Perhaps if you become deathly ill, you might have to sell the business. But, under normal circumstances (because normal people never die) you should focus on keeping your business.

If you truly love your business, why would you want to sell it? If you get married to a woman, do you have an exit strategy? Starting a business is like getting married. To be successful, you should ideally do the same business most or all of your life. People who get ahead do so by being the best at what you do. If you switch jobs every six months, you’ll be good at interviewing and that’s about it.

Looking for a business partner or outsourcing relationship? If they talk about exit strategy, you might not get the best service. That means they are thinking about money, not commitment. You can even trick them by asking them what their exit strategy. If the answer doesn’t involve a graveyard, you might have the wrong prospective partner! Warren Buffet only buys stocks that he is willing to keep for the rest of his life. I encourage you to choose businesses that you would like to be in for the rest of your life!

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