Good Afternoon from the TaylorMade Family! I hope that everyone had a wonderful weekend and is ready to jump start a new week of endless opportunities! Today's word of the day is "Exit". We are going to examine what this word means in the business world. When you hear "exit", to most non-entrepreneur's they wouldn't understand what that means but to us business-minded individuals we know that when we think about the word "exit" we think about either filing for an IPO or getting acquired by a bigger firm. In the business world, this is the end goal to all of our years worth of hard-work, sleepless nights, and countless meetings. Being a business owner, you have so many responsibilities that you have to adhere to and try to follow on a day-to-day basis, making sure you hire the right team and delegate the right responsibilities to the right person. In the beginning, this may be a difficult process because you're going through trial and error with each person that you hire because maybe they might not be a good. All in all, when it comes to an "exit" there's a lot of planning, research and due diligence that's involved when it comes to a long-term goal of that manner.
Today's quote comes from Ryan Holmes from BrainyQuote and he states that:
"An exit is only a success if you set an exit as your primary goal. My primary was to build a globally influential tool, to build something from the ground up that could literally change how we communicated in business and individually."
My interpretation of Mr. Holmes quote is that in his opinion, he doesn't feel like an entrepreneur should be focused on an exit, instead they should be focused on building something that would have an impact on a global scale. In my opinion, I feel that while, yes you should be focusing on building out your brand on a global scale but at the same time at some point you will start to think about your end goal. At the end of it all you just want to know that you are satisfied with the results of all your hard work that you put in throughout the years.