1) My exit strategy is to sell my company in 10 years after it expands to many products and many states around the country. I would get much more money out of selling the company then when it is at its peak then waiting it out when it starts to decline. I would not want to retire after this company because there are much more things to be invented, changed, and redesigned out there to only stick in one place for your whole life. Especially passing it down to my children would be a bad idea because they will never learn the skills you gain from starting a business.
2) I selected this exit strategy because you can gain a lot of skills from many different places rather than staying in one place. If I want to get have a stable job and income, then I might consider keeping the company and not selling it.
3) My exit strategy influenced my decision in my concept by encouraging me to take more risks with the company. Since I know I am not going to keep it forever, I am more willing to be riskier in situations. This way, I am more likely to identify and take any opportunity. I plan to acquire resources for the short term payoffs rather than the long term.
Hey Jessica, you have a great exit strategy. Let the company grow the fullest potential and then sell it before it starts to decline. You seem like a very creative and innovative person, which are qualities that I do not possess. The marketplace need people like you, so that's awesome that you would not want to retire after selling this business. Your business plan is great and if I attended UF in person, I would use your wireless charging service.
ReplyDeleteHi, Jessica! I think this is a very smart exit strategy, especially because you plan on gaining more skills from other places instead of sticking to one thing. This is definitely a good move. Great thinking as well about how not passing on the business to your children because they will not learn the skills you did from starting a business. I like how you are a risk-taker too, because you may see higher rewards from your strategy!
ReplyDeleteHi Jessica, this is a great exit strategy! It sounds like you’ve thought about this a lot, and have developed a solid plan. I agree that passing the business down to your children may not be the best idea – there is so much to be learned from starting a business, and while running one certainly isn’t easy, it just isn’t the same. Great job!
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