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 do intend to have my business either up and running or in the beginning of that process. I do intend to stay with it for a few years, to make some extra money on the side but I would never treat it as my main job. Therefore, I would retire in a few years. I do not think I would pass it down to my travel because it is a one-hit-business, in my opinion.
2) Why have you selected this particular exit strategy?
-The business is not a long term business because it does not have long term success potential.
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 think that because this business is not going to last very long because of other goals I plan to focus on, I have not put in much thought on all the factors of my application and have not looked into perfecting my product.
What I've noticed about some of the projects that I've looked at so far, is that none of us plan to keep our business growing in the longterm. Why is that? Are we just fond of other professions or do we really believe we couldn't grow our venture to be more than short term success? Your post has me wondering about this because I responded similiarly to the way you did. Just an interesting though I wanted to put out there!
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