Assignment 28A- Your Exit Strategy
Assignment 28A-
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?
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?
- My intentions for this business in the next 5 years will be to continue working and making this product recognizable and make enough profit from it. After I have a good amount of money I would probably sell it and buy a franchise where I wouldn't have to deal with everything a new product or business requires. But I don't plan on keeping it for a long time.
2. Why have you selected this particular exit strategy?
- I chose this exit strategy because I don't want to work on something for the rest of my life. I rather invent it and make it well known so that others can make good use of it and after focus on things I like or want to pursue. If I don't open the franchise maybe I can open up my own advertising agency or something along those lines. This product is something I'm passionate about for many reasons but I know if I sell it to a well-known brand it would reach a bigger audience.
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?
- I had never really thought about my exit strategy before this assignment. I always saw it as a product I'm passionate for but now thinking about it I think this exit strategy is what would benefit me best. I think I've never put much thought into it.
Hi Guiliana,
ReplyDeleteI had a similar exit strategy to yours. I also plan on not keeping my business for a long time, I would like to sell it. My reasoning was different from yours though, I want to sell mine because I do not see myself as an entrepreneur or an expert in the field my business is in, so I want to sell it to someone who can take it to the next level that I can't.
Hey Guiliana,
ReplyDeleteI think that this assignment is a good practice for those who are interested in becoming entrepreneurs. It allows for them to project their thoughts to 5 years ahead of them and visualize what they want to do with their project. It's interesting that you rather keep inventing. Good work!