What's your exit strategy?
 

Do you have backup plans on what to do if this industry stops being profitable for you? Have you already planned out your exit from this industry, or perhaps your early retirement?

Just curious :2 cents:

if you think that you shouldn't be here now

That's a rather idiotic comment :2 cents:

In ANY business it's a good idea to have an exit strategy. Life doesn't always cooperate. Grocery store owners whose town gets invaded by Walmart, industries that come tumbling down, products that are made obsolete by new inventions - you never know what tomorrow will bring.

Yes I have that planned out. Have invested in many assets that are offline. Not because I feel the industry will stop being profitable. More just about when I may want to get out, if I perish and my wife wants to get out, or if the workload becomes more of a liability compared to the amount of money it produces over a long period of time.
I think all good business plans should have a possible exit strategy. Some plan on selling them off for instance.

selling coke

We diversified a few years back and now mainstream and gaming make up a good part of our revenue. It will probably surprise no one gaming is quickly overtaking adult!

You know that old saying: "The last one out please turn out the light" I've always figured I'd be the one turning off the lights lol

-Loki-

in all those examples there are options to stay in the business they love if it's what they truly want to do

3D modeling for local council. It's a side gig atm, but could go full time with it.

I would work as system administrator or maybe push more my own hosting bussiness.

diversification

Hitting the lottery :2 cents: :2 cents: :1orglaugh

Adapt or Die

I thought of this a few years back and started up my own printing business. That industry is getting worse too now, hehe. I guess things change and you simply have to adapt. I'm probably going to sell everything in a year or two and try something else. Both industries have been good to me over the years, but it might be time to move on before I start putting in more than I take out.

One day after surfing all of the porns on the webs, I will finally give up, and maybe loose my virginity!

I run at least once a week.
You never know when the zombie crowds will hit.

it mustn't be exit strategy, it must be new term strategy, unlike most people here what i understand from branch industry is the whole interweb itself, so if one side got shitter, i would like to turn my stuff to an other direction.

i like computers/internet, i like this business, i like online moneymaking, so i wish these online businesses lasts for ever and we can stay long enough in it.

i dont have a plan b....
:(

i would never leave the business, well maybe me personal but never my company, i would rather take some one on to do my job and take a cut im my pay check, which is then still ok. But having back up of what so ever is good. I am not sure what mine is going to be. I am still young and business is going great.

For all intents and purposes I am already retired, and have been for over 10 years now, at least from my former employment. But since I am not yet drawing income from my retirment fund, RSP's, and other investments, choosing instead to leave them alone and let them grow until I'm well into my 50's, I do this as an income supplement. Along with income from rental propery and a few other sources I have in place I'll continue to do so (ie: run an online business) as long as it suits me.

In fact, as long as there is an "internet" in one form or another and a means to earn income from it I can't see myself ever quitting. Automate yes. Find ways to free up time from it, absolutely. But I see no reason to ever take down sites that are making money, even if those sites eventually make very little. A little income is still income.

Sometimes, "adapting" means seeking out greener pastures. Having a good exit plan means being aware of what the greenest pastures might be.

Rule #1- Cardio :thumbsup

:1orglaugh :1orglaugh ...

if you're not already diversified you're behind the power curve :2 cents:

mcdonalds will feed me :D

Im going to have to say, I agree with so many people in this thread.

From the top, I agree Sleazy and libertine as you shouldnt be thinking about an exit but maybe if anything goes wrong in life as you can never say never.

There is nothing thinking about the future & what ifs though. The people that are not prepared for a fire get burnt!

You should always think about what if, similar to buying life insurance or writing a will.

I am planning to move to Spain no matter what, however, Im hoping it is with Natalie, my partner & with this home here in Bournemouth still in my holding for parties held every month & for my return every month or so. My business shall always continue with no retirement, I see nothing wrong with the good Hugh Heffner.

I think where you went wrong was stating " If your business closed" I agree with Loki apart from the light wont be turned off, Loki & I shall need the light on to continue working.

Working on my Italian citizenship....

I am looking for a plan b that let me also get out of the city, go to quiet and green place...

I will be heading towards the clearing marked, and illuminated exit signs either in the front, or back.

Correct, that was a really dumb comment.

Yes. I always have a plan B and C for everything.

My exit strategy?

http://www.awn.com/olddocs/vmag/issu...nagglepuss.jpg

I think I shall exit stage left...

ADG

Break a leg...

I'll lock the door behind you :winkwink:

I believe I shall break wind instead...

http://2.bp.blogspot.com/_f98opUNuVX...s400/farts.jpg

:winkwink:

ADG

my wife likes to say 'I always have a plan B, C AND D!'

I'll be going into the wild

The internet is always growing and making new ways to make money online, this industry (internet, not just adult) will out live not only us, but our grand children.... That's if the world doesn't end on 2012, and if so, nobody will need an exit strategy, because I'm pretty sure John Cuesack won't share his plane with us... Fucking bastard! :mad:

I'm surprised only one person mentioned retirement... I would have figured, many of you would just retire when things get bad...

after over 10 years in this industry i've realized you have to be ready to jump from one thing to another when the one stops working. some people are able to ride the same boat all the way to shore but not many.