The Financially Savvy Entrepreneur

Chapter 5:The Most Important Business Plan You’ll Ever Draft: The Exit Plan

I recently read Jim Collins’s book Great by Choice. As are all Jim’s books, it’s fantastic, filled with wise words backed by years of research. In this book Jim delves into how the most successful companies have survived in turbulent times. He uses the story of the 1996 Mount Everest disaster as an illustration (the subject of the book Into Thin Air by Jon Krakauer). That year, an experienced guide, Rob Hall, led a group of people bound for the top of Everest. It’s a long, arduous, costly journey to reach the summit. In every such group, on each day in which they make their bid for the summit, a time is set by which the party must stop their movement forward, turn around, ...