Have an Exit Strategy for Your Mom Blog
An exit strategy is definitely one of those super-businessy terms that can make your eyes roll back in your head. An exit strategy is simply what you plan on doing with your business when you don’t want to do it anymore.
Will you just close up shop? Will it be the foundation for a different business in the future? Will you want to sell it someday? Or will it merge with another company?
These concerns probably seem far-off, as if they didn’t have anything to do with your business today. But as an entrepreneur, you should think differently about this topic. If you want to transition your blog to have others write on it, you will need to ensure that you have the revenue now to pay for content — and make sure that you can earn that money back.
If you decide you want to sell your blog someday, you may need a year or more to make changes to your site so that someone else can run it.
While shutting down a business is an absolutely appropriate (and common) way of ending a business, it isn’t your only option. If you want your blog to be the foundation for a different business in the future, or if you even want to sell it someday, there are things you need to take into consideration now to prepare for that end goal.