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?
If this business venture were to come to fruition, it's certainly something I would love to pass it down and absolutely keep it family owned.
2) Why have you selected this particular exit strategy?
I think there's something really special about knowing you've built something from nothing. To know you can be successful in one of the most influential countries in the world is to be admired. That's not something I would want to lose.
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?
Looking back at my concept development and my exit strategy now, I really don't think I was thinking of this long standing growth. To be honest, my first thought was, what will make money and what's always in demand? When I analyze how I would want to 'exit' I see that it's my intention to have something to hold on to. I may have approached my concept differently if I thought of that going into it.
Jamie,
ReplyDeleteYour approach to your exit strategy was really cool! I like how you want to keep your business venture in the family. Gaining success on your own is definitely something to be proud of so your strategy is very rational. I had a little bit of a different strategy so you can check my post out here: http://amyarnoldent3003.blogspot.com/2016/04/my-exit-strategy.html
Jamie, I like how you would keep this as a family owned business. The fact that you want your children to work for this business means that it is worthwhile and reveals great family values. I had differing viewpoints, but really respect your outlook and your exit strategy. If you would like to check out my blog post you can do so below:
ReplyDeletehttp://maxwilk.blogspot.com/2016/04/my-exit-strategy.html
Hey Jamie! i believe your exit strategy is extremely kind since its a family thing. I wish I would have prior knowledge of what exactly you company is to understand if this strategy would work. If it didn't become family owned what other strategy would you use? All in all its great that you are building something from nothing and creating a family friendly company from scratch. check out my blog at http://michaelduellent.blogspot.com/
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