Assignment 28A: My Exit Strategy
- 1.) Identify the exit strategy you plan to make:
- I plan to stick with my company until I feel that it has reached its highest potential possible while I own it. This will most likely take about a decade to achieve. However, once I feel that my company/product has reached its potential, I will sell it for a large return and then either find something new to put my entrepreneurial mind to or find another job that interests me the most.
- 2.) Why I selected this particular exit strategy:
- I selected this mixed exit strategy because I believe that as technology continues to develop in the future, there will most likely be another product that provides the same service that I am providing but better. And I intend to anticipate that by selling my company at the perfect moment between its success and before its downfall/unpopularity.
- At a certain point, an entrepreneur must review whatever they have accomplished and determine whether it is worth continuing or closing that door because it will only be valuable and last for a certain amount of time.
- 3.) How has my exit strategy influenced the other decisions I have made in my concept?
- My exit strategy has influenced me to attempt to make my product and company as popular and powerful as possible as quickly as possible so that it will be relevant for a long time before newer or better technology and ideas are developed.
- My exit strategy has also influenced my growth intentions and how I plan to acquire and use resources because as I plan on becoming successful as successful as I can as soon as possible, I will need to utilize my resources in convenient ways that will provide the best options for my product.
Hello Julia,
ReplyDeleteI want to start by giving a little advice. Since you want to sell the business at its prime, just before the downfall, you have to take into account that the potential buyer will notice what is your current position. Therefore, you might not be able to sell it for as much as you wanted, or even to take longer that expected. Other than that, I think it is pretty smart to try to anticipate and make the most out of it, and in case you want to stay in business, you will need to find new products and technologies. Great job overall.
Hi Julia,
ReplyDeleteYour exit strategy is well thought and planned out. Its inevitable that new technology will come out that may outweigh your current product now, but if you anticipate that you can definitely find the right time to sell your product so that you actually benefit rather than feel the back lash from other companies developing a similar, but more advanced technological product.
Hi Julia,
ReplyDeleteI absolutely loved reading about your exit strategy. I have loved learning more about your passion for the food industry and you seem like a very passionate entpreneur. Many other people have stated they think they will sell their business within the next five years, therefore your passion shows - the fact you aim to stay with the business. This is really valuable because potential investors will view and see your strong passion for your business concept and this will dramatically help your business potential. I hope you follow through with your entrepreneurial dream. Good luck!
Hey Julia,
ReplyDeleteYou seem like you have a good plan for the future of your business and how far you want to take it. I have similar plans with my idea for the same reasons, technology. We both understand the inevitable advancement of technology and how it will affect the future of our business. Great job at identifying your way out.