28A - My Exit Strategy
All good things truly come to an end.
1. I intend to sell my business once I have get an offer that I cannot refuse, assuming the business takes off and is reasonably successful.
2. I choose this particular strategy because in my eyes, I want to sell while I know I can make a good return on the business, as any number of market factors can change at any given point, potentially leading to a decrease in what I earn as profit. I want to make sure I will have money to live off of and not take risks, therefore selling while I am guaranteed a decent sum.
3. It has somewhat affected the other decisions I’ve made, as I’ve deliberately tried to avoid risk and operate this business with as little initial investment as possible, instead opting for a somewhat slow launch with gradual expanding in order to ensure I don’t expand beyond my means. I want to grow my business, however, I want to do so without risking too much as I don’t have the financial means to risk it all so to speak.
Hey Nick! It seems like you have a good exit strategy that you've put quite a bit of thought into. I was so preoccupied with strategizing my startup and how to get my product in consumers' hands that I didn't even think about my eventual exit. It's good that you had this in mind from the very beginning. Nice post!
ReplyDeleteHey Nick, nice job with this post. I personally chose a different exit strategy, but I have to say your strategy is a pretty good one. For a lot of businesses, selling while they can is better than staying in the market for a long time. And now that you mention it, I can see how you avoided risk from the beginning of your venture. Great job!
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