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 intend to sell my business in the next 5 years for a large return.
2) Why have you selected this particular exit strategy?
I believe this is a useful item that should continue to be sold, however, I don't see myself growing with this. It's not my particular area of interest and I would like to pursue other career goals. If I were to continue in the household item industry, I'd like to move more toward the kitchen item section because as someone who loves to cook I believe I can help create items that ease the process of some things.
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?
I think my exit strategy has influenced my growth intentions. I would like to grow more of an influence in the culinary industry because it is something I am slowly becoming more involved in.
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ReplyDeleteCarolina, I love the picture. I also like the honesty in your strategy. You realize the product you have is something you don't see yourself growing with and would rather pursue something else, lot's of people couldn't do that. Getting more involved in the culinary industry what's one product you'd want to create though?
ReplyDeletecheck out my post at:
http://anicentrepreneur.blogspot.com/2016/04/exit-strategy.html
Hello Carolina!
ReplyDeleteGreat post! I similarly plan to sell my business for a large return. Have you thought about how much money you'd like to make on your idea? My strategy definitely influenced my growth intentions like yours. I agree that selling your business might be the best idea if it is not something you are truly passionate about. I appreciate the added element of humor in your post. I chose to include a funny picture as well. You can find it here, along with the rest of my exit strategy post:
http://mariakongosfirstblogever.blogspot.com/2016/04/my-exit-strategy.html
Carolina, fantastic post you have here. I also plan to sell my business for a large return and I think you have an excellent plan of what steps to take to succeed past the duration of your idea. Your exit strategy seems to be the best idea for your business and I think that you will succeed with this idea. Your sense of humor is also a nice read. Check out my post here http://ethan2you.blogspot.com/2016/04/my-exit-strategy.html
ReplyDelete