- My exit strategy is to sell my company in five years.
- I selected this strategy because I think after five years, my business will have grown enough for me to receive a nice return from it. Although I do think running this venture will be enjoyable, I don't see myself running it long term and I'd rather work in the finance industry. I think that running this venture will give me a perspective on the business world that a lot of people won't have an opportunity to get at such a young age. Although it would be great to make money off of this venture through the years that I am running it, and when I sell it, I think that the learning experience in of itself will be more valuable to me.
- My exit strategy definitely influenced how I saw my opportunity. Since I knew that I wanted to be pursuing this venture for the short term, I knew that I was only going to pursue the most readily available customer base, which is college students. This will insure quick growth for my company and then maybe a few years down the road, in year 3 or 4, I would expand to working adults as well. Most of the ideas for my company were formed on a short-term, quick growth basis.
Friday, April 17, 2020
Your Exit Strategy
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Hi Patrick,
ReplyDeleteI think you have the right idea to plan on selling your venture in five years. While there is always the possibility that it will take off, and that you might want to stay involved with the business, having this exit strategy as a goal is a good way to look at building value into the business. If you work towards creating the most value in the business that you can by year five, you will either sell at a higher price, or have a more sustainable business.
Patrick,
ReplyDeleteIn the event that the venture is profitable I think that selling it is a good move. In order to be successful you must do something that you enjoy rather than just owning a business for the money. I would select this exit strategy as well especially since it is a quick growth business.