Assignment 28A – Your Exit Strategy
· Identify
the exit strategy you plan to make. Do you intend to sell your business in the
next 5 years for a large return? Do you intend to stay with the business for
several decades and retire? Do you intend to protect the venture as a family
business, and pass it down to your children?
o
I plan to stay with Tips for a few years
until I know that I’ll be secure enough financially to start pursuing other
things that may help my career while also supporting myself comfortably. When
this happens, I would want to sell it to a company who has the same intention I
did when I created this idea and make sure that the company would benefit from
it as well.
· Why
have you selected this particular exit strategy?
o
I chose this particular exit strategy
because I want to pursue other interests that I have. Personal finance is one,
but there are many others I want to learn more about and possibly build a
career on one of those as well. For example, I am a passionate writer, and
becoming a successful author has been one of my dreams, and it’s a dream I know
I will be pursuing for a long, long time.
· How
do you think your exit strategy has influenced the other decisions you’ve made
in your concept? For instance, has it influenced how you have identified an
opportunity? Has it influenced your growth intentions or how you plan to
acquire and use resources?
o
I believe my exit strategy has influenced
my decisions in my concept in terms of acquiring and using resources as well as
the culture I would want to build within the company. I want to build its value
before I decide to sell it to another company, and I want the value to be found
not only in the profit it earns but also the employees and processes it has.
Hi Kaitlyn!
ReplyDeleteAs I read through a couple people's exit strategies, I found it a common theme that people wanted to sell their business concept so they could pursue other things. I believe this is the case because we are so young and at this point in our lives, ideas of what we want to do in the future are either just starting or are constantly in a whirlwind in our head.
Hi Kaitlyn!
ReplyDeleteI noticed that your exit strategy is similar to mine because we both plan to move on to other ventures after a short period of time. I too have other interests that I want to pursue after running my company. I agree that I also want to build my companys value in not only profit but in other areas before I move onto my other passions. Great job on this assignment!