What does this mechanism? Exit and payback strategy? What does this means? Exit and payback strategy for my

What does this means? Exit and payback strategy for my business plan..what does this penny-pinching?

Answers: Putting together a business plan gives you the opportunity to muse about adjectives aspects of your business. The exit strategy portion is asking you how you're planning to get out of the business. Most entrepreneurs spend a large amount of time thinking about how they're going to catch into the business and very little planning how to get hold of out of it. An exit strategy is important during your initial planning phases because it can guide decision you make hasty on; like naming your business. If you're planning to grow the business and go it, for example, you'll want a name that someone would want to buy. Widgets R Us instead of Joe Smith's House of Widgets

No one is going to hold you to your exit strategy and as you re-visit and update your business plan periodically, you can variation it.

A payback strategy is just that; how and when are you going to repay any start-up loans. At what point will your business be debt free.
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