Your Exit Strategy

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 exit strategy for right now would be to eventually sell my business between 5-10 years. 
2) Why have you selected this particular exit strategy?
I decided to select this exit strategy because I want to try new things as an entrepreneur. Once I am in the business long enough, I feel as though I could use that experience to create a more niche and unique business. I want to keep bettering myself with each new experience and I feel like I wouldn't be able to do that if I were to stay in one business for a long period of time.
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 hasn't influenced the other decisions I've made in my concept except for when I think about what's next for the business. Since I intend to sell it in the future, I have to make certain decisions for the business so that it can be sold without any problems. As long as I keep reaching realistic goals for the business, I am sure that the business would become desirable enough to sell. 

Comments

  1. Amaya MarshallApril 19, 2020 at 9:24 PM

    Hi Mia,
    I think your exit strategy sounds great! I believe doing what's best for you and the business is always the best idea and if selling the business after 5-10 years is the way to go I say go for it! I myself am not going to sell my business but try to keep it going for as long as possible, but doing what's best for you is always the best answer.

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  2. Shannon ParkerApril 19, 2020 at 9:41 PM

    Hi Mia,

    It sounds like you are going to grow a business an hopefully pocket a nice profit when you sell in 5-10 years. It would be awesome if everything works in your favor and I wish you all of the best. It seems that having the opportunity to become an entrepreneur early in your career will really set you up to be successful in any future en devour that you choose. Good luck to you in your current and any future ventures!!

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  3. Tarang DongaApril 20, 2020 at 1:25 AM

    Hi Mia, I enjoyed reading your post. I too plan to eventually sell my business for a good profit. I liked how you chose this particular exit strategy so that you could get to try new things and continue to better yourself as an entrepreneur. The thought of indulging in new experiences and trying to continuously improve ourselves is an important characteristic of an entrepreneur. Great post!

    ReplyDelete

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