1) Identify your exit strategy
My exit strategy is definitely to stick with my company for at least 10 years. If I've already put in the work to create something that I care about then I'm definitely going to stick with it for awhile. That being said one taste of success would probably lead me to try and start more businesses so I would definitely consider selling or joint-owning down the line.
2) Why have you selected this strategy?
I have selected this exit strategy because this start-up idea is very important to me, my friends and I have been working on it and continue to work on it now. Since we are so passionate about this we want to be a part of it and if it became successful we would absolutely stick with it and keep creating. After all, that's pretty much my dream job, getting paid to create and design.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
I definitely think that my passion about this idea has led me to think and act differently when answering these assignments. This is something that I would be willing to do for the rest of my life so of course I'm going to treat it differently then Joe's fly-catching device. Since we are expecting to get bigger we are starting small so we can financially support our progress 100% of the way. So yes I think differently about my venture because I am actually invested in it and need to think about finances and such because it literally affects me.
Brady,
ReplyDeleteI also have a long-term exit strategy because I am drawn to my entrepreneurial idea as a lifestyle. I think joint-owning is an interesting idea and one that I touched upon a little bit in my post or giving the company away to someone else I trust in the industry. I think that passion is something that can make you super invested in whatever you are doing and I am glad to see that you feel that way about your entrepreneurial concept.
Hi Brady,
ReplyDeleteI think it is super cool that your exit strategy has you staying with your business long term. I could pretty much tell throughout this class that you were very passionate about the business you created so I think that it would be very cool to watch your business grow over the years. I am very fond of my company but it is not my passion so I think that is why we differ in our exit strategies. Great post!
Hi Brady,
ReplyDeleteI find it very interesting that you chose a longterm exit strategy and I applaud you for it. Personally, I am not so invested in my product that I would like to stick with it for a while, but the fact that you would like to is certainly commendable. I also think that you sharing this business and idea with your friends will be beneficial in helping it grow and receiving input from a variety of perspectives. Overall, good job!