You may just be starting your adventure into the starup world, but have you considered where you are truly going? Are you on a clear journey from A to B? Or is your journey more of A to Not Sure? Inc magazine online has a great article to get you thinking about this very topic, "What's Your End Game?" StartupNation also has an article along the same idea, "Business Exit Strategy: Got One?"

Overall I think these articles are well written but don't quite cover all the options. Keep these options in mind as you starting out and growing your company. I've provided a short list below from the article and added options the article does not include.

Exit Strategies included in the articles (Please read both articles Inc's and StartupNation's):

• Keep the company private - This option provides the most control and flexibility for founders. Usually keeping it private means that the founders are very passionate about being with the venture long term.
• Selling to a larger firm - This option is usually seen as a faster exit strategy. Usually larger firms that can benefit from the products, services or intellectual property of the startup are targeted.
• Taking the company public - This option is potentially the hardest to accomplish but may lead to the biggest payout. Going this route will take time, lawyers and a favorable IPO (Initial Public Offering) market.
• Merging with another firm - This is usually done when their are strategic benefits between two companies. There may be good product and/or service integration, financial stability or diversification opportunities
• Buyout - This option is not one your venture would be seeking. Normally you are targeted by bigger firms in direct or indirect competition with your venture. This option is usually done to consolidate the market within your venture's industry.
• Liquidation - This option is choosen if you are looking to close your venture and just sell your assets to other companies. This only works if there are buyers interested in your venture's assets and you have no debt left in the company. The other circumstance for this option is usually forced (from bankruptcy) to pay off debts that the business accured.

Additional Exit Strategies:

• Licensing your intellectual property, product or service to one or more firms - This option is typical when intellectual property, products or services have been developed but cannot be fully realized or supported within your own venture. You may license to one company exclusively or license it to as many companies as possible depending on the agreement. This can take time to setup, but will lead to a constant stream of revenue as long as demand remains high.
• Pivoting - This option is not usually planned for from the beginning of the venture. Pivoting your existing business into a different industry or niche may come from an unsustainable business strategy, the market changing or a better product or service emerging. You can leverage all your existing assets and connections to explore other areas of opportunity. Generally, a pivot requires you to consider all the above options all over again.

I encourage you to sit and think about this topic seriously because greatly impact your venture and you personally. It may be helpful to write a list of Pros and Cons for each option if you are not certain which exit strategies fit your needs and goals. This topic should be openly discussed and agreed upon when there is more than one company founder. Talking your options over with business advisors or mentors within the industry is also not a bad place to start. Hopefully you'll find a great exit and no regrets.