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 to sell my business in the next 5 years. I want to start many businesses
and sell them for a large return. The plan was always to sell the business.
2)
Why have you selected this particular exit strategy?
I have selected this strategy because
I want to make a lot of money. I love my business but sometimes if you love
something you have to let it go.
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 don’t think that my exit strategy has affected or influenced the way I chose to do business.
If anything I think it has helped. It helps remind me that this is a long term business
and that I have to take care of it.
Hey James, I feel that this is going to be a good idea to plan on selling the business and the idea. Your idea is something that can drive a lot of revenue if brought to the right people and the right situations. Selling this to a bigger company may bring you the biggest return in your investment. Getting involved in crowded cities, or universities around the country would be a smart plan to help make this more popular and more money.
ReplyDeleteHi James,
ReplyDeleteI think this strategy is similar to what I have read of other people's exit strategies. Many people in today's world seek opportunities. Your opportunity was the umbrella. Once you end up finding a newer and better opportunity with a high market growth rate, you will be able to sell the umbrella, and advance on the new opportunity. That is how people do business in a smart way, so I think you are on the right track.