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?
Personally, I don't think it is has a family business frame, but it can be a start to other kinds of ideas. I could hang on to the business even after it reaches a good value, but it depends on how my career is going throughout time. I've no intention of attaching myself to the business unnecessarily since I want this idea to help people, not to use its benefits for my personal gain. This means if someone has a better way to run it and I agree with that way, I would sell it. Otherwise, I would stay with it and let it be a platform of credibility for other apps or programs that I could create in the future.
2) Why have you selected this particular exit strategy?
As I said, I want it to be run properly, like many other ideas I might develop in the future. I want to be for the best benefit of the people, not for myself. The money behind it might be a bonus but is not my priority.
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.
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.
Most of the decisions were made taking into account that it could save lives. My exit strategy and why I found the concept at the beginning are made under the same thought, this means that the way I use resources and find opportunities have to be surrounding that idea.
Hey Juan,
ReplyDeleteI admire your honesty and thorough plan for your business. I like your point of if someone has a better way to run it and it compliments your views, you would sell it. Often times in society I feel like some people are not willing to do what is best for the company because of their ego or selfish ways. I admire you saying what you did. Good job!
Hey Juan! Thank you for sharing your exit strategy with us. I love how you are transparent about your business. Unlike many other entrepreneurs, you are committed to the value of your brand and not really the financial profit. I believe if you continue to stick with this mindset, your business will become even more successful than you can ever imagine. I love how you mentioned your growth intentions. Your exit strategy seems like it will be nothing but the best and I certainly will take this into consideration when planning my exit strategy. Feel free to contact me if you need help. Great job overall.
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ReplyDeleteI definitely understand and respect your vision and decision based off of it. If your heart isn't into, it is best to just sell it and move on when it becomes profitable, even if the profits don't matter much to you. Especially if someone has better ideas to grow it at that point in time and more of a passion to follow through with those plans, it is only right to pass on the torch to that person.
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