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?
The exit strategy I plan to make with my developing business is to eventually sell it. In the next 5 years I won't be seeing myself sell the business. In 5 years, I see it being at its peak generating revenue. I intend to stay with the business as long as I desire, until the time comes that I decide I don't want to follow through with it anymore.
2) Why have you selected this particular exit strategy?
I selected this particular strategy just because its in my interests to.
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 exit strategy has influenced other decisions in my concept like what target market to keep going after, because eventually a time will come where I will be older than my target market and maybe not be into it anymore. It influences my growth of this business while the time lasts, while I'm in my 20s.
I agree with you Joey. I feel that it is important to see how the business is doing in 5 years and to wait it out as long as possible before selling it. That is if the business is still doing well and you are making a profit and loving what you are doing. I find that many people don't take the chances they need to in order to keep things going, but it seems like you have the right idea. Please check out my blog: http://soulstosteal.blogspot.com/2016/04/my-exit-strategy.html
ReplyDelete-Chris
Joey, First I want to ask you about the photo? I'm curious about it. Second I think your exit strategy is very rationale but I believe this decisions depends a lot on the type of business we are offering. Things are constantly changing and I think is complicated to plan an exit strategy with some exact dates. Great post
ReplyDeletehttp://erickbvu.blogspot.com/2016/04/exit-strategy.html
Hey Joey! I agree with your exit strategy, even though it's hard to predict what the next 5 years holds, selling it before then would be too soon. Waiting it out to generate as much revenue as possible is the smart thing to do. I applaud you for having passion about your business and not just selling it as soon as you can and doing something else. You're thinking in the best mindset. If you want to check out my exit strategy you can at this link:
ReplyDeletehttp://rmathisonent3003.blogspot.com/2016/04/my-exit-strategy.html