Thanks Emily. A great deep-dive on the subject.

As I said in the sessions and in other posts, I use the exit strategy exercise to help snap people out of day-to-day thinking and think long-term. I disagree with Lance that startups (yes, I've spent a lot of time with a lot of startups, including nonprofits, service, technology and others, but haven't had the good fortune to rub elbows with Zuck, Jack or Biz) that think about exit strategies are house-flippers. Most have investors who want to know their money is well spent. One client said his exit strategy "exists so that I don't settle into complacency."

I appreciate Lance's conviction but disagree that exit strategies are incompatible with creating an enduring business, or that "legacy" is (as it pertains here) more than a semantic difference. That said, the exercise only works if it challenges assumptions and creates new ways of thinking about your business, even if you refute them.