1) 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?
In the next 5 years I intend to sell my business for a huge profit
2) Why have you selected this particular exit strategy?
I want to sell my business because this is not my passion. It is just a good idea that no one has thought of. It would be a good chance to make some money.
3) 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?
The exist has made me make sure that all the cable customers come to me so that way they are interested in buying my company.
Hello Bridgett,
ReplyDeleteI believe is great that you know what you want in life and what you are passionate about. Also, if this business venture is not something that you see yourself doing for the rest of your life then selling it after generating some profit is the best option for you. Lastly, the bests entrepreneurs are always on the look for new ventures. They do not settle for just one. Great job! Here is my post if you want to take a look at it http://berrvh.blogspot.com/2016/04/my-exit-strategy.html
Hi Bridgette;
ReplyDeleteI understand the reasoning through which you have arrived to the conclusion that selling your business for a 'huge profit'. Of course, it sounds like the dream to work hard on a business idea to the point that it is so valuable that 5 yrs later someone will come offering 'huge' money and snap it out of your hands. In my personal opinion and experiences, I have seen very little business flourish to such state in just 5 years. If your goal is to work so hard and so dedicated in those 5 years so you can brake this norm, I believe that it is necessary for this business to become you passion rather than the passion being the money at the end of the tunnel. Then again, who am I to judge your expectations and business plan in an entrepreneurship class where we are asked to create and plan for a fictitious business, but we are asked to give our hypothetical opinion and take on each post and I believe yours may be on the wrong track. You may take a look at my fictitious and possibly 'wrong' blog here http://ent3003cesaralfonzo.blogspot.com
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ReplyDeleteI think that this would be the right move for you after looking at your reasoning. If this is not something that you are passionate about, then it would probably be best to sell the business to someone who is passionate and cash in. Once you have sold your business, find another idea that no one has exploited yet and do it all over again or maybe find something that you are passionate about and start another business that will be your full-time job for years to come. Here is the link to my blog post: http://brandonsblog1111.blogspot.com/2016/04/my-exit-strategy.html
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