For my exit strategy, I would select keeping the business until I am no longer fit to run it, whatever that reason may be. If at that point, I do have the option to pass it down to my children, I will take that option instead.
I have selected this exit strategy because I feel that once I am able to operate my own business, I would like to make it my full-time occupation. I would enjoy being my own boss, and I would want to enjoy it for as long as possible.
My exit strategy has definitely influenced my growth intentions and how I plan to acquire resources.
My business would bring me excitement seeing my business grow larger and larger, with aspirations of expanding to new locations, and even discovering entries to new markets. Additionally, since I plan on being the long-time owner, I aim to handle my dealings personally and build a reliable network with my suppliers and clients so that I can have a loyal customer base that keeps coming back for my services.
Hey Luis,
ReplyDeleteI applaud you for wanting to remain in the everyday functions of the business. If your business would be larger and expand, would you offer to sell off parts of it and still be involved with the day-to-day? Additionally, would you maybe groom someone else to take your place and run your business in your vision? This way you could retire without fear of the future of your business.
-Jordan Jacobs
Hey Luis,
ReplyDeleteThe exit strategy that you chose is a great one as it is responsible to step down once you are unfit to lead your venture. It would eliminate risk and possible ruining all the hard work you but into it. And the fact that it is our passion and dream, it makes for a great combination in succeeding in your venture and making a happy life for you.
Best,
Austin Felter
I think your exit strategy might be a little extreme. Holding on to your business forever sounds great but in the real world isn't such a great idea. Businesses have peaks and troughs and it usually makes the most sense to try to sell at the greatest peak. If you hold onto it forever, you are setting yourself up for inevitable failure at some point in the future.
ReplyDelete