Rich guys focus a lot on exit strategies. As they plan their next venture or deal, they decide how to achieve whatever goal they’ve set for this endeavor — that’s all an exit strategy is.

For example, Jimmy wants to open a restaurant, and his plan is to run it until retirement, by which time he hopes to have a good general manager that can run the day to day stuff while he collects a check from his beach house. That’s Jimmy’s exit strategy.

James, on the other hand, wants to build a medical services company and achieve a 25% market share with a 15% margin. He wants to do this because he knows the bigger players in this industry will buy his company when he achieves these goals. So, he creates a plan that will help him build this company in ten years, and sell it for $100 million to a large competitor. After that he’ll search for the next big deal (right after he flies around the world with his trophy wife for a couple months). That’s James’ exit strategy.

What’s your exit strategy?

Most employees don’t think this way. They get a job because they believe incorrectly that they need that job to pay the bills. They collect their paycheck, allow their bills to grow in proportion to that paycheck (ensuring they are stuck on this treadmill), then accept whatever comes along in the form of promotions or lay offs. When they lose their job, they find another one to continue the process.

The “default exit strategy” is to save up enough to retire at a reasonable age in relative comfort. This plan worked when inflation was low, companies were loyal to those they employed, and retirement was about 10 years between work and death. We live in different times.

The better option now is to create a “goal map” for yourself so you know what the goal of your employment is, and what you’ll do when you reach your goal. This means driving your life forward according to the principles you choose at the beginning, and it gives you the ability to measure your progress as you travel along your planned path.

Are you the right path to your goal? Is your current position in life propelling you toward your next move? How will you transition to that next phase?