28A – Your Exit Strategy

1) I think that my exit strategy would definitely depend on how things went after I started the business. If it didn't too as great as I imagined, I would sell it. But, if it became very successful I would stay in it till retirement and then probably hand it off to my children, so I know they would be working in a leading company and probably end up being successful.
2) I would choose the latter part of my strategy most likely (because hopefully my business will be successful) since this would be, most beneficial for me as I can reap the benefits of my business and it will be most beneficial for my family since they can have a solid business to support themselves with.

3) It has probably influenced my growth intentions and how I plan to acquire and use my resources. To explain, in order for my to exit my company at retirement, make it a family business, and hand it down to my children, my business has to be successful and generate profit. To make this happen, I will want to grow my business nationally, have have locations in every state of the Unites States. I plan to acquire resources by working with companies like Apple and At&t to get the materials I need and not waste money on being a competitor and supplying my own products.

Comments

  1. Arielle SusterApril 22, 2018 at 6:24 PM

    First off, i'm going to use your post as an opportunity to respond to your comment on my post. Thank you! My dogs name is Oliver and he's a 2 year-old boy :). I could see your business opportunity really blowing up into a multi-billion dollar service. I feel like when your business becomes that widespread and significant, it's important to keep reliable people on top. Whoever takes over as CEO would have to be someone you trust not to demolish your success.

    ReplyDelete
  2. Amanda HollowayApril 22, 2018 at 9:28 PM

    I liked reading that you are choosing to wait and see how the business is going before deciding to sell. I immediately just decided I was going to wait five years and sell but you're right in the fact that if business is booming, I might chose to continue the business. It would be nice to have the option to pass it down to my children.

    ReplyDelete
  3. Lauren AbeloveApril 22, 2018 at 11:39 PM

    I really like how you are deciding your exit strategy on how you business does, I think that if super efficient in how it can effect you. I think its a great idea to stay in your business until retirement, that way you can be successful throughout your life and if it doesn't do well you can back out.

    ReplyDelete

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