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Sen. Marco Rubio, R-Fla., said Wednesday that he will likely decide between running for president or another term in the Senate around this time next year.

"I think by and large when you choose to do something as big as that, you really have to be focused on that and not have an exit strategy," Rubio told radio host Hugh Hewitt when asked if he would try to stay in the Senate if he sought the presidency and lost.

The potential Republican presidential candidate also noted that Florida law prohibits being on the ballot for more than one office.

"And I think that's the right law," he said.

Rubio also indicated he may explore opportunities outside of politics.