1. The exit strategy that I plan to make is selling my business off a few years down the road for a large sum.
2. I have already touched on this in one of my previous posts, but I would choose this exit strategy because I do not see myself managing a business for my entire life. I do not think that I have the right personality to turn a business into a family business and hand it down to my kids, but I do think that I could start a business and let it be bought out by a bigger company for a large sum of money. I would just like this strategy the best because then I would use my money to invest and I would get a steady job that would supplement my earnings from the sale of the company and allow me to live comfortably for the rest of my life.
3. I do not believe that my exit strategy has influenced how I have identified an opportunity, but I do believe that it has influenced my growth intentions because I have always had this exit in mind when designing my venture and I believe in growing my business as quickly as possible so as to gain a large traction in the market that is attractive to a larger investor who would be willing to buy out my company.
I had a very similar exit strategy of having the intention of selling my business in a few years, to gain profit and be allowed to pursue my other aspirations throughout my life. I like how this exit strategy has influenced your growth intentions to grow your business quickly to be able to sell it for a large sum. By setting this goal, I feel that your business will continue to grow as you continue to design your venture and generate success.
ReplyDeleteI have a very different approach to my exit strategy, in fact I don't have one at all yet. However after reading exit strategies of others and remembering what my uncle did, I agree that if I were to make any exit strategy, it would be most similar to this post and other posts. The market is a jungle, you don't know what it will hit you with, but its entrepreneurs job to prepare those changes and maybe even predict the upcoming changes, so just to stick to one type of product would be detrimental, one needs to branch out to find other alternatives before the "well dries up".
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