1. I think that my exit strategy will be protecting my venture and keeping it in my family to pass down to my children if it takes off the way I think my venture will. However, if the venture experiences a brief period of growth and then a substantial decrease, I will sell the company and move to something else. I understand my creative abilities and how to build a company so I can use my skills to realize another opportunity.
2. I have selected this particular exit strategy because I feel that the ultimate goal is to create generational wealth for your family so that no one ever has to struggle in life and can make the absolute most out of their opportunities. A successful company that acts as a cash cow would enable my children and grandchildren to always have a place to work and money to live their lives with. If the company is not successful, then I will sell it and put the money into a new venture.
3. I think that my exit strategy has influenced other decisions that I have made in a way that shows that I am willing to take risks but understand that there is a point at which risks are not beneficial and could be harmful to my venture. I use this mentality in all things, including acquiring resources and making decisions on how far to push a concept.
Kyle,
ReplyDeleteI think that it is super cool that you want to keep the product in your family because it shows how passionate you are about the idea. I also enjoy your answer to number two because if you can keep the wealth and profit in the family why wouldnt you want to!
Kyle,
ReplyDeleteI think it is awesome that you have two different ideas on what to do with your business based on its success. Start up businesses can go either way so it is super important to have many different plans. I have loved your idea from the start and am sure it would take off. Good luck on your future business plans!