The endrepreneur undertakes exit behaviors throughout the life of the venture and assumes the financial risks of leaving the business. These behaviors affect the options for exit. Some exit behaviors are intentional, such as succession planning, and some are unintentional, such as a decision to compete on price that ends up devaluing a business unit. Some exits have little lead time.
There is wide variation among endrepreneurs but all become owners who exit their businesses. Exit generally falls into two broad categories of voluntary and involuntary. According to the Small Business Administration Office of Advocacy, exits range from unsuccessful (closure with losses) to successful (reaching owner’s tangible and intangible goals, with no loss). Exit can involve disposition by transfer or closure of the business in whole or in part. There are also different, personal definitions of successful exit. Some founders will go on to start and leave many businesses, and for some, exit may only happen once and involve some form of retirement. Sometimes the owner assumes a new role in the company.
Have you ever faced the endpreneur challenge in your business?
Photo by Landhes Bregas Manuhara