1. I plan to sell my business in the next five year for a large return. This business will be a learning experience for me, and I hope to pass it on to someone else in the future. The concept appealed to me because it involves goods that are in high demand to customers around me (college students). I want to use this venture concept to learn the ropes of management, pass the business on to a trustworthy candidate, and then continue on my career path.
2. I have selected this particular exit strategy because this business is not where I see myself for decades. I think it is a great place to start, but it is not personally the best place for me to end.
3. My exit strategy has influenced some but not all of the decisions I have made in my concept. For example, it has not influenced how I identified my opportunity. On the other hand, it did influence my growth intentions.
Hey, so we pretty much agreed on almost everything about our exit strategy. I think you did a better job at explaining how the exit strategy specifically influenced your business decisions, but overall, I definitely think we both had similar ideas in mind when developing our exit strategy. I think the main idea with our businesses is creating something that will be successful, profitable, and quick-to-market so that we can use the capital to finance our real end-goal endeavors. Great job coming up with an effective exit strategy that fits your needs, and keep up the good work.
ReplyDeleteAlso, check out my blog post:
http://sebastianent3003.blogspot.com/2016/04/my-exit-strategy.html
Hi Rachel,
ReplyDeleteWe have very similar views on how we wish to handle our exit strategies. In a perfect world I would love to sell my venture for a large return as well. I have much larger plans for my career in business which is why I don't see myself sticking with my first venture throughout my entire career. I can not ignore that, which I think you would agree, our first concept would be an important stepping stone on the path towards success. Whether it is a complete failure or an absolute success, it is ultimately the best tool for learning as we move towards our overall goals. Good luck on your journey! Check out my post if you have a chance. I would love to have your feedback as well.
Richard
http://richardjeffries.blogspot.com/2016/04/my-exit-strategy.html
Hello Rachel,
ReplyDeleteI have almost the same idea you do about this topic. With me, I would have to keep in mind where I am though. If I really need the money in that time or it was taking away from my life with my family, I would sell it. I like how you just want to gain the experience from it and apply it again to something new or a new job.