What's your exit strategy?

I ask that question to people who ask me for advice on starting their creative business. It's a trick question. The response I really want is no answer at all. Here's why:

It's no secret that starting a business is hard. I've been self employed for a long time and I can tell you it stays hard, but the rewards are great. So what happens if your business falls on tough times, or worse yet, fails? How will you know when it's time to quit and go get a "real job"? Do you have a failure plan? It all boils down to guts and commitment. Here's a story to illustrate:

The story goes that when George Washington crossed the Potomac River, he ordered his men to burn the boats. He said "we're not going back". Washington knew that an easy way out undermines commitment when the going gets tough. Washington and his men were committed to win. It was the only way. Their only options were victory or death. I don't know if this is true or if it's just legend, but the point is important. Commitment takes guts.

Being self employed takes guts. It's your guts and commitment that will get you through when the going gets tough. No matter how tough it gets, you'll be tougher. Give it some thought. Are you 100% committed to your business? If you are, you are much more likely to succeed. If you aren't recommit yourself now.

You may think this sounds foolish. Please don't misunderstand, I'm not saying not to plan. Planning is vital to your success. Just make sure you are not spending your time on plans for failure. Put all of your effort into plans to succeed.

Make your plan, then burn the boats!

What kind of role has guts and commitment had in your business? Please share it with us in the comments.