Exitpreneur is a better word than Entrepreneurs

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Whether your startup becomes successful or get fails you must have an exit plan ready with you.

While starting a startup you must keep a point in mind that “startups fails” even the success rate of experienced VCs is 2-3% only.

If you type on google that “why startups fails” you will get 19,700,000 results but when you type “why startups succeed” you will get only 3,560,000 results which is only 18% of the earlier result.

Lets keep the definition of “exitpreneur” simple, “one who knows the exit plan”. Lets take the possible situations :-

Your startup succeed

If your startup get successful and you go for expansion, you need money, you ring the bell at the door of VCs.
The first and important question from VC – “What is your exit plan”. In this case if your Idea is scalable and you have better exit plan, you are done.

Your startup failed

You don’t have a magic boon with you, even after you give your 1000% , your Idea may not work, and for reasons you can refer to “19,700,000” reasons. But don’t be disheartened, if you had an exit plan with you, you wont bother.
You will choose the plan B in this case. May the plan B be another startup with more exit plan.

Whenever we start with a startup, we have a clear picture in our mind. When we enter as an “Entrepreneur”, we know that if I will be successful then 3 years down the line I will do XYZ thing.

But, we clearly don’t have any Idea that what shall we do if we exit as an “Exitpreneur”?

Mantra for an Exitpreneur: “prepare for the worst hope for the best”

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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