Exit Strategy
1) My plan is to sell my business as soon as I manage to grow it large enough where I can no longer run it alone. I don't want to deal with hiring other people to run it with me I would rather just sell it to someone.
2) I never intended to keep my business long term. I don't want to run my own business because it demands so much of your time. I also want to be in a job where I can travel for it a lot and owning my own business I don't think would give me that freedom.
3) I think my exit strategy has made me less invested in my business. Since I plan on selling it I haven't thought of my business as "my baby" that I'm growing. I want it to succeed of course because otherwise I wouldn't be able to sell it, however I am not emotionally invested in it.
My exit strategy was very similar to yours in the fact that I decided to sell my business as well. I said that I want it to be large enough that I can sell it for a decent sum of money. But in my case I said this decision did not affect how I thought about my company. I think I invested all I could into the idea and other things because I had not thought about my exit strategy until this assignment. I think it’s best to do everything and have success before thinking about exit.
ReplyDeleteGreat job on your exit strategy as well as determining how your exit strategy has helped you identify opportunities. I like your reasoning for wanting to sell it, because I agree running a business would take up a lot of your time and if you want to travel and do other things it will severely limit your ability to do so. Overall Great job.
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