I worked for a business sustainability that began to deploy bait and switch methods as the market dropped. They advertised highly appealing products that weren't readily available to entice in buyers to pitch them on less attractive items. They marketed steal-of-a-deal products that weren't readily available to get the chance to upsell greater priced products.
So, preparing for an exit is more than merely acting when the market is 'hot'. It is just the opposite. An effective exit strategy is one that makes use of these down markets to prepare the business for an exit when the 'window' opens once again. And, let's not forget, that offering the company is not the only exit alternative - again, vice versa. Nevertheless, any exit option requires to think about the underlying viability of the company's sustainability in order for the total exit structure to be a success. Now is the time to address this sustainability.
Make sure there is concrete market need for what you are offering. Make some tests on the ground before you embark. You should not deal with assumptions.
What to do? If you are at all thinking about taking a minimum of some control over your own scenario, then it might be time for you to begin considering of package. Thinking out of the task box suggests not counting on somebody else to supply you with your earnings. Instead you choose to take control of your income by counting on yourself.
Picture that a female opens a knitting shop filled with yarn, knitting needles, and ideas. She has a fantastic place and gets great importance of sustainability in businesses traffic. She uses a little area of beads and decorative metals, and soon this is the most popular section of the store. But she perceives herself as being in the service of offering knitting products, so she does not broaden the beading stock or deal classes in jewelry making or embellishment techniques.
What does this mean to us? Besides the apparent reality that we need to learn how to accommodate change in our company item, we likewise need to create our business model for flexibility and changeability. We have to become fluid.