Do you intend to sell your business in the next 5 years for a large return?
My business is a non profit so I do not plan on selling it but rather passing it down to future generations of gators.
Do you intend to stay with the business for several decades and retire?
I intend to stick with this venture until I graduate, so for another 3 years.
Do you intend to protect the venture as a family business, and pass it down to your children?
I intend to run it much like an organization on campus, so elections would be held once a year. I might even try to attach it to Enactus to ensure its sustainable success.
2) Why have you selected this particular exit strategy?
I selected this strategy because it beneficial to the organization and to myself.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
I think it has influenced me in how I set up the structure of employees and who I would go about hiring. It also effects my strategy for development.
Domenica,
ReplyDeleteI had the same game plan in my head for my business as well! I did not want to keep working with my app after college because I have other future plans but passing it down to other University of Florida students with the same intention to further the app was my exit strategy. And yes I would agree that it definitely affects the strategy for development. Great job!
Here is the link to my exit strategy if you want to check it out. Thanks! http://jbasta.blogspot.com/2016/04/week-13-my-exit-strategy.html
Domenica,
ReplyDeleteMy exit strategy is very similar to yours. I do not plan on continuing to run my company after I graduate college. However, since it's a for-profit company I may entertain selling it. If not, I'd pass control of the company to one of my trainers. The picture you used here is awesome as well. Check out my blog post here: http://jakeryanentrepreneur.blogspot.com/2016/04/my-exit-strategy.html