Tuesday, April 5, 2016
My Exit Strategy
I would say an exit strategy will be something I will evaluate as the future moves forward because it can always change. A big factor that will influence my decision depends on the market value of my company. But, ideally, my exit strategy will be to sell my business in the next 5 years for a large return. This business is just the beginning of my career and I think selling it will take off my career. I can't see myself in this business for my whole life or my family taking it over, but I will still put all my value in it for the time leading up to the sale. I don't think it's influenced how I've identified this opportunity, but I think that it's influenced my decisions regarding my growth. I think that this company is right on the forefront of an increasing technological age, and I don't think my business will last that long. I think this opportunity is something that everyone sees and there's no telling when someone else might think of a similar idea. This reason has impacted my decision to achieve rapid growth and my business concept revolves around achieving wealth and growth as quick as possible. This means that I will try to acquire and use my resources such as my electrical and phone app technology as soon as possible before another company does because I don't think my window of opportunity is very big.
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Week 13
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I think that you did a great job with this post. I think that my favorite part was the opening line, because it truly is impossible to see where you will be in the next year or two let alone 5-10 years. I would also sell my business, but want to stay a part of it.
ReplyDeleteHere is a link to my blog if you would like to look at it.
http://wjkms.blogspot.com/2016/04/my-exit-strategy.html
Hi James,
ReplyDeleteIt's interesting that you would sell your business. When I first started my own, I wasn't sure what my exit strategy would be. Like you, I certainly didn't see myself doing this forever, but I wouldn't just liquidate either. I think selling it is of course a very good, very viable option. I'm thinking of selling in about five years as well.
I unfortunately wasn't able to do this assignment. But great post!