Assignment 28a - Your Exit Strategy

Assignment 28a

Your Exit Strategy

Personally, I think I would sell the business in a couple years, according to its success level. Once it is established and doing well, I’d hand it off to someone else and go find another project to start working on. However, I do feel that all this depends on many factors and can change incredibly while working. If, after several years of working with this business and it being successful, I might decide to keep going and working with it since it is my creation and I would have a sentimental value to it.

The reason why I would sell it after working on it for several years would be because I don’t want to get too greedy and keep it for myself. I want to bring new people in, with their ideas, to make the business grow in ways I would have never been able to. I also want to do many things and don’t like being tied down to a project I have already successfully completed.

I think this has had an influence. It’s influenced the way I’m planning and how long I envision it to be. Since I want it to grow and be successful as fast as possible, my networking efforts and hunting for resources is very elevated. This would help me develop the business as fast as possible and really establish it.  I also think this is true because the market for it is available right now and maybe not a couple years. That’s why planning for it and developing it as soon as possible would be most beneficial. Then selling it several years later would be a good return and a new introduction of ideas into the business.