Exit strategy or the lifebuoy

Whatever you need to know about the opportunity

Before we go on with the next module to build your marketing ship or marketing system, this is good also to have an exit strategy which we call it “lifebuoy”. Even though we assessed everything and gather all the details that we could, still maybe there are some problems with performing your idea service or product and simply market does not react as you imagined. So, it is better to have a solution before any failure.
Let me give you an example to have a better look and better understanding of exit strategy or stop loss point. For instance, your friend introduced you a movie and he thought that the movie is really interesting. You rent it, sit on your couch with popcorn and start watching it. After 10 minutes or so, you see that the movie is not interesting as you had imagined. So, you have two options now. You can go on with the movie or you can stop watching it. Stop-loss point, exit strategy, or lifebuoy is exactly the time that you stop doing something which is not interesting. When is that time? And how you get out of business that’s not working? 
How much time and money you can invest or spend on your business which does not affect your current life? These are the questions you have to answer to have or to know the stop-loss point. Let’s give you another example to have a better understanding of the real world. Imagine you want to spend $10,000 to have 5000 clients. You spend all 10,000 but you got just 4,000 clients. Eventually, you spend another 2,000 but your clients improve 300 and you spend more and more to achieve that 5,000. So, in the end, you’ll spend $20,000 or even more to achieve 5,000 clients which you planned at the beginning. This is the wrong strategy. When the 10,000 Euro finishes and you did not achieve what you had imagined, you should stop spending more money which is also called the stop-loss point. This is the point that exactly you stop spending money or time on a project.
Another very important issue that I have to mention is avoiding any kind of long-term contracts or long-term rental lease agreements before you are certain about your business. So, if you can rent your office for 3 months, do that. If you can rent even for one month, then do that. Don’t rent it for 2 years 5 years or 10 years. Even if you pay more amount it’s okay.
In business there too moves that are very important. the first move is horizontal move and the other one is vertical moves. Horizontal moves are like the decorations of your office, like your visit card, how beautiful are your website, graphics, and all things which are not making any revenue for your business. The vertical move involves all of the actions that bring you revenue. It could be in the form of good customer service, like participating in workshops and events, investment in yourself, mentorship programs and making live events, etc. However, do not forget that a successful business needs both movements. But in the beginning, do not focus on costly issues. If you can print your visit card less amount and more expensive, do it. This is because you will be able to change it in the future. If you can spend less amount on designing your website and use the online ready-made templates, then do that. On the other hand, do not go to a program to make you a perfect expensive website. Likewise, if you can have a co-working office or share office use that instead of a private perfect luxury office. You will have all of these things in the future when you have enough revenue.