A Note From @Tos.Boss
Dida Clifton
I created and grew a company that runs without me, retired my husband, and moved to rural Texas. Now I help others who want something similar with their business through our franchise opportunity and advisory services.
Good morning! ???
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Here's your friendly reminder that another week has zoomed by. ?? ?We're on number 49 of the 50 small business owners lessons learned, just one more to go! This one was a bit challenging for me. The word retirement is not really in my vocabulary. I'm of the belief that if you quit moving forward, you die. Even when I've accomplished all that I've set out to do with TheOfficeSquad, I'll still be doing something...Something with purpose!??
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I believe what my friend meant by reverse engineering your retirement is this: make sure you have an end in mind so that you won't be surprised when you get there. The article below talks about an exit strategy instead. I hope you find value in my message.
#49 - Reverse-Engineering Retirement
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Or Should We Say, an Exit Strategy?!
by Dida Clifton
With my recent move to Texas, I've been asked more then once, "How's the semi-retirement going?? Excuse me?? I'm not retired. My husband is. While the notion of retirement might resonate with many, does it really capture the mindset of a true entrepreneur? After all, for those of us who’ve built something from scratch, our focus tends to be on growth, innovation, and ultimately, an exit strategy – not a traditional retirement.
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The difference lies in how we define success and fulfillment. For many traditional business owners, the goal is to work hard, save, and eventually step away into a peaceful retirement. But for entrepreneurs, the vision is more complex. We’re driven by passion, problem-solving, and creating something that leaves a lasting impact. We’re not necessarily counting down the days until we can sit on a beach somewhere. We're planning trips to the beach in the middle of the week while the company runs without us.? We’re planning how we can transition our business – whether through selling, handing it over to a successor, or transforming it into a legacy.
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So, what does planning look like for an entrepreneur? It’s about reverse-engineering from the end goal, but with a twist. The focus isn’t just on reaching a point where we can exit, but on strategically positioning ourselves and our businesses to maximize value, scale effectively, and ensure continuity beyond our direct involvement. The question isn’t, “When can I retire?” but rather, “How can I exit in a way that aligns with my vision and secures the future of what I’ve built?”
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As you plan for the future, consider what exit strategy makes sense for you. Start with the end in mind, but remember that for an entrepreneur, it’s not just about walking away – it’s about ensuring your work continues to thrive, long after you’re onto the next adventure.