Monday, April 8, 2019
28A- Your Exit Strategy
The exit strategy that I plan to execute with this communication application platform is for me to build up on service and ultimately sell it after years of success and flourishing. I am not interested in being in my company for the long haul because as I get older and mature I will want to move onto another business venture as I am someone who loves to jump around and live an interesting life. I have selected this exist strategy because since my business idea has a lot to do with college students, I will want to move on and work with older people and ultimately have a new life in regards to businesses. I will move forward and take those skills and lessons that I have learned and implement them into my future business operations. This exit strategy and everything that I have learned has completely influenced my decision making in identifying an opportunity. It has influenced my growth intentions because of my hunger to become successful and be good at what I do. Overall, all of these past assignments and strategies that I have learned have made a huge impact on my future with what I want to do.
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Alex,
ReplyDeleteThank you for sharing your exit strategy, and how did you arrive to it. After reading your post, I can see that your exit strategy was embedded in your planning from the ground up. I had a similar strategy with mine’s and I think it makes perfect sense. If you know you are not going to be in the same business forever (who does nowadays?) better to plan when to leave early on. To improve your post, I would suggest you define your timeline a little better and provide an approximate range of how much time are you planning to be at the helm. I would also suggest to have a contingency plan if things do not go as well as planned (or, on the contrary, go too well.) Overall good post and a well-thought strategy, thank you again for sharing it.
Alex,
ReplyDeleteI have the same plans to eventually sell my product and move on with my life. It is important to focus on your passions in life and even if this product is a great short-term idea, it might not be what you want to get involved in down the line. It seems as though you are prepared for that ultimate decision and that is a great thing to have figured out. Great job!