What is an Exit Strategy?
An exit strategy is a plan of action that outlines how an organization will leave a market or business. Exit strategies may be necessary when an organization is no longer able to compete in a particular market, when the market is shrinking, or when an organization decides to focus on a different product or service. Exit strategies typically involve minimizing costs, reducing contractual obligations, and disposing of assets.
What's included in this Exit Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Exit Strategy template for?
This exit strategy template is designed for organizations of all sizes and industries that need to create a strategy to exit a market or business. It provides a framework and a set of guidelines for each step of the process. The template can be used as-is or customized to fit the needs of the organization.
1. Define clear examples of your focus areas
Focus areas are the broad topics that the exit strategy should address. Examples of focus areas include reducing costs, reducing employees, and reducing assets. Each focus area should be broken down into specific objectives, actions, and measures. This allows you to create a plan of action to achieve the desired outcome.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that need to be achieved in order to complete the exit strategy. Objectives should be realistic and achievable. They should also be measurable, so you can track your progress and determine when the objective has been achieved.
Examples of some objectives for the focus area of Exit Market could be: Identify and Minimize Exit Costs, and Reduce Contractual Obligations.
3. Set measurable targets (KPIs) to tackle the objective
KPIs, or key performance indicators, are measurable goals that can be tracked and monitored to measure progress. KPIs should be specific, measurable, attainable, relevant, and timebound (SMART). They should be set for each objective, and should be regularly monitored to ensure that the objectives are being met.
An example of a KPI for the focus area of Exit Market could be: Calculate exit costs.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the steps that will be taken to achieve the objectives and reach the KPIs. Projects should be specific and actionable. They should also be realistic and achievable, and should be completed within a reasonable timeframe.
An example of a project related to Exit Market could be: Analyze cost of exiting market.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a comprehensive strategy and execution platform that helps organizations optimize performance, accelerate results, and achieve their business objectives. With Cascade, you can easily create, track, and measure your strategy to ensure it is successful.