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?
I plan on staying with my business and passing it down to my next generation. However, if there is a large sum of money that is offered for my business. I will seriously consider selling my venture for the financial gain, if I do not see my business going far.
2) Why have you selected this particular exit strategy?
I choose this particular exit strategy because I find it most reasonable and logic. I have made up my mind with staying with my business unless there is someone that offers an substantial amount of 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?
My think my exit strategy has not influenced my decisions in any way. I constructed my business decisions off of what I feel is best for my venture. There are some business ventures that are going to be a temporary hit in the market. Those business ventures are created for instantaneous success for a quick, short return.
Your thought process about your venture is extremely logical which I respect. Your logical thinking is what will help you make the best decision when an offer for your business comes along. Unlike you, I have predetermined the exit strategy of both my business ideas. Of course things can change, but for now I envision the business the business I am most passionate about to be passed down to family, and the one I'm least passionate about to be sold for profit after a few years. Check mine out at http://palombiblogs.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteVincent,
ReplyDeleteYou approach was different than mine, personally I didn't want to pass my business down generations. But I find it interesting that you want to. It's good that you find it the most reasonable, especially if it's successful. It's a good thing that you kept in within the family.
Check out my post if you have time: http://kristianasimon.blogspot.com/2016/04/my-exit-strategy-week-13.html
Vincent,
ReplyDeleteI like the honesty about your exit strategy. It is definitely hard to turn down a lot of money for the company even if you put a lot of time and energy into it yourself. Like you I would keep my company as long as possible until enough money is offered for it. The buyer would not have to be someone I know, just someone willing to pay a lot. By not creating your venture with an exit strategy in mind would definitely help keep the focus on bettering the company. Check out my post here: http://thomasmurphy-ent3003.blogspot.com/2016/04/my-exit-strategy.html