28A your exit stragety
Here's what you should do and write up for your post:
1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
I do not intend to sell my business in the next 5 years for a large return. The reason for this is because my vision of the company is eventually expanding into other segments of technology. Eventually, I do want to retire owning the same business and protect the venture as a family business and pass it down.
2) Why have you selected this particular exit strategy?
I have selected this particular exit strategy because of the vision I had of my business. Also, I would like for my children to continue the legacy of my business making it a family business.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
My exit strategy has not influenced how I have identified my opportunity but has influenced my growth intentions or how I plan to acquire and use my resources. I want to expand my business idea so that I can enter other markets. Also, I want to make the business family oriented which would influence the way I acquire human resources.
I am also planning on keeping my company longer than 5 years. I think you are making a smart choice because technology companies are always changing and you can always grow and develop as times goes on. Sometimes tech companies or ideas are sold for millions of dollars. If I was in your shoes and given a big offer, i would be considering the money. It is a difficult decision.
ReplyDeleteI think it's great that you want your company to venture into new markets and that you want to be the one to do it! I'd love to do the same. Unfortunately, I don't really think my business has any other markets to venture into. It's interesting how you believe that a family oriented business affects what type of workers you would hire. That's super cool!
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