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 feel that I would stay with this venture for a while if it were to become a reality. I feel like after putting so much time and effort into something like that i would feel bad giving it up, maybe have other people trained doing most of the work for me but i feel that i would still like to be involved in the process with it. Maybe one day I would sell it off after i got tired of doing the work but the whole idea is based around traveling and thats something I could never get tired of.
2) Why have you selected this particular exit strategy?
I selected this particular strategy because being able to do something that allows me to travel so much would be an amazing job and I don't think that i would be willing to give that up for a while. Maybe if I were to retire I'd pass on the organization to someone who i believe would hold up the same value that it has been based on.
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 it would influence the organization much. Maybe it would slow growth because the budget would be limited because if the fact that I have a limited budget vs. a larger company that would have a lot of funding to do multiple things at a time.
Adna,
ReplyDeleteI completely agree with your exit strategy. After nursing a start up and creating something of value the goal is to continue to see that companies success until you are truly ready to move on. The balance however, is finding the right time to move on. In life you must constantly challenge yourself to grow and improve.
If you get a chance here is the link to my post. http://ericchyattesblog.blogspot.com/2016/04/my-exit-strategy.html
Adna, great post. I believe your exit strategy is a very smart one. Being able to grow your start-up and then teaching others how it works, can be a great plan for the future. Eventually you could get to the point where others in your company handle the day-to-day functions and you can slowly start doing less busy work. As an owner you want to be primarily focused on management and planning which it sounds like you want to do. Eventually selling the company can allow you to come out on top as you pointed out! Good post overall. I did not get a chance to complete this assignment so I cannot link you to my post.
ReplyDeleteAdna,
ReplyDeleteI think it is great that you have such a connection and passion to your venture. This would be extremely helpful if you were to see your venture through. I think of this as some of those episodes on shark take where the only offer/s on the table are to buy the whole company. Seeing the reactions of the owners is just sad. when people put so much effort, work, and money into a venture, it is hard to say bye to it, whether it is successful or failing.n With you loving the venture so much, I agree with you as in I wouldn't see you selling it before you retire. If you want to check out my blog the link is below.
http://smileyent3003.blogspot.com/2016/04/my-exit-strategy.html
Adna,
ReplyDeleteI completely agree with the strategy you have chosen. It does seem crazy that after so much hard work and effort put into a venture that you could just give it up. It also would definitely help if you love what your doing, like traveling. I for one love to travel and if my venture had anything to do with it I don't know if I could ever give it up. However, in the chance that I do, I agree with you in passing it on to someone who will uphold its same standards. Here is a link to my blog if you want to check it out http://wrenmoriah.blogspot.com/2016/04/my-exit-strategy.html