Friday, November 22, 2019
Assignment 28A: Your Exit Strategy
I think my exit strategy is to keep the business, at least for a few decades, and expand it. I don't know if I plan to pass it down to my children, but I know that it is something that I want to see through. If my children end up wanting to take the reigns on it, then they can have it. I think my chosen exit strategy has a lot to do with my personality. I am super loyal and I stick through thing even when times get rough. I know you will have to pick and choose what you dedicate your time to if you have multiple ventures that you have trouble maintaining. However, I don't plan to have a ton of other ventures, only a few. I think my exit strategy has influenced how I have chosen to go forward with the business. I have chosen to grow and expand the company to new locations. I don't think it has changed how I identify an opportunity.
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Hi Nala!
ReplyDeleteLooking over your exit strategy, I definitely identify with your plan to expand your business for some amount of time before passing it over. However, rather than passing it down to my children, I might rather sell it. I too feel that I'm loyal and might stick with things, but doubt that my children can be as committed as I am to my pitch, and as such, would consider abandoning this venture in favor of another that catches my interest. I too felt that my exit strategy influenced my business plan, as . considering where I wanted my business to go and where I expected it to be by a certain amount of time helped me justify the specifics of my product and figure out its expansion.
Thanks for sharing!