Assignment 28A - Your Exit Strategy
1) Identify the exit strategy you plan to make.
- I plan to sell my company as my exit strategy. I would plan on selling it to someone who has more knowledge in the education field who can take my business to the next level that simply cannot. I believe I have done/contributed all I possibly could and would love to pass it to someone who shares the same passion for it that I do.
2) Why have you selected this particular exit strategy?
- Being practical, I am still a student in school so I would like to sell it to someone who could dedicate the time and energy it would take to take my business to the next level. I do have faith that if I put my 100% time and energy into the company I could take it far but I prioritize being a student so I would take the profit from selling the company and apply it all into my education, so possibly one day I would have the adequate knowledge to create a new business venture.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
- I think that knowing I would sell 100% of my business has impacted the decisions I have made. Mostly in regards to feedback, I have received from peers and interviews since I know I will not always own the company, I have been more receptive to feedback and critique because I know whoever buys the company will change aspects of it that I might not agree with. And since I need to sell my company to someone, I have to seem like someone people would want to do business with, so in that aspect, I have become more aware of how I handle and present myself around people who could potentially be a future owner of my business.
Hey Kayla!
ReplyDeleteI think you're entirely right-- given your situation you should totally sell your business to another company that is more knowledgeable. I agree that it would be tough to run this operation while still in school. Is this a venture you're seriously considering? If so, you could perhaps start it on youtube, gain a following, then sell a docu-series online for people to buy. Just an idea!
Hey,
ReplyDeleteThat is right sell, it is the best thing that you can do. You are young and have so many other things that you want to do, so sell big and make as money of this that you can as possible. Remember fake it until you make it, when they come to buy your company you make it seem like if they don't make you a great offer than they are fool for not giving you money and that they are missing out.
Hi Kayla,
ReplyDeleteI agree with you that you should sell your business. I think that knowledge in what you are selling is very important, and if it is not something you are truly passionate about then your product will never reach its full potential. I think that you should sell it then try to create more products or services. A person should never limit themselves to one product because there will always be competitors that enter a market if they see that it is profitable. I think it is a great idea that you will be selling and the expanding to other possibilities.