1) My Exit Strategy:
With my business, as it will hopefully thrive for the next five years, I choose to 'exit' by keeping it on the side. I wish to invest and create more ventures as well. I would also like to make it a family business if it would last that long, why not teach the kids about entrepreneurship young?
2) Why I Selected This Strategy:
I chose this strategy because this would have been the venture to start it all for me, and while I continue in my career, it's important to me to keep it around. It would have been my first step into the entrepreneurial world, and it can set an example for future projects. What could i have done better? What were some great ideas? What should I change for next time?
3) How My Strategy Influenced Other Decisions:
With this strategy, I had influenced the value I place on opportunities and resources. This project was like a baby, and I became very close to it itself, and the closeness helped me value the resources because they can be hard to come by in this day in age. I also think that it'll hep influence future business ventures. Much more now falls under the umbrella of opportunity.
Hi, Julia, I picked the same exit strategy as you. Just like you, I also view my business venture as a marathon and not a sprint, and I invested for time and effort into the company for the long haul. I also have aspirations like you to pass down this business down to my future children and keep it a family business.
ReplyDeleteHello Julia,
ReplyDeleteI like that you are looking at this venture as kind of a learning experience or a test run for your future ventures you could have. I think that is a great way to look at it and then if you do decide to exit the business, you still gained all of that great knowledge that you can use in your future. Also I think that it is great that you became close to your project, that really shows that you were invested.
Hi, Julia!
ReplyDeleteI like the idea of keeping this business venture on the side. That way, you aren't getting rid of the business, you are just keeping it on the back burner. This is definantely a good strategy for you. Personally, I am going to sell mine off or hopefully sell it to the city/state since mine deals with city jurisdictions.
Great post