The Most Important part of your Business Plan

How many times have you stayed up all night, doodling the outlines of that new project that somehow managed to crawl into your mind?

Ideas are concepts that are triggered by external stimuli. They are paths formulated along the neurons of your brains. You begin to materialize them once you describe them – once you get them out of your own head!

These plans often arrive in the form of a business plan or venture. Your brilliant concept expands itself on paper, assumes a life of its own, becomes an entity that lives and breathes your own dreams.

All of a sudden, you are on your way to creating *the* killer application or *the* ultimate web site for a product or service no-one thought before. Nobody is going to stand in your way!

But what is the most important part of your business plan?

As humans, we always look up, further. The Greek word, “anthropos” means exactly that – “he who gazes up“, towards the sky and the stars. As humans, we often get caught up into our own dreams and ideas.

Your business plan needs a safety switch, a security line. An exit plan.

By defining at the beginning what will happen when your own plan won’t succeed, you are defining the minimum percentage of your success. With an exit plan, you are not limiting yourself, you are simply ensuring that you won’t get burned if things go wrong.

Exit plans can be as simple as points along a timeline. They can be as complex as a set of processes that will engage once certain parameters fail to produce certain results. They are there to ensure that your vision is realistic and that should you fail you will be able to recover quickly and fully.

In the world of domaining, investments in one TLD or another, a specific market or a certain vertical need an exit plan. Times are fluid and focus becomes blurry, but with an exit plan you will be able to predict the signs of losing the game – thus winning it in the long run!

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