Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
I would plan on staying with this business for the remainder of my undergraduate studies and possibly graduate studies if I stay at UF for grad school, so maybe 4 or 5 years depending on its success. I think running a start up would be great experience, especially because I don't know what I necessarily want to do for my career. 
2) Why have you selected this particular exit strategy?
I selected this exit strategy because this business doesn't really fit my own personal interests and hobbies so I can't see myself sticking with it for too long. However, I do think it would give me enough experience to figure out what I don't want to do and how I want to approach future businesses and professions. 
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 eventually leave this business has influenced the amount of effort I've put into the concepts behind it. I like to do things to the best of my ability and I think that would apply to this venture. I think that because I would eventually be leaving this business, I would want to leave it to someone while it was in a good place. I wouldn't want to leave someone a struggling business. 

Comments

  1. UnknownNovember 26, 2017 at 5:52 PM

    Hey Olivia,

    I think you did a stellar job on your exit strategy post. I like how you identified exactly what you would do, as you would keep the business through your undergraduate and graduate studies. I also like how you identified that you would not want to pursue this business due to personal interests. I relate to this because my business plan is not exactly what I am interested in. However, sometimes it is good to pursue a business that you are not interested in because you don't have a vested interest. Overall, great post!

    ReplyDelete
  2. UnknownNovember 29, 2017 at 11:50 AM

    Hi Olivia,

    I enjoyed reading your exit strategy post. I am in the same boat as you in that I also intend to have my business for a few years while finishing up college, but it is not something that I have enough passion for to spend my life doing. I think that it is nice to have the option to either sell the business if it is doing well at the time you wish to exit, or just shut it down if it is not thriving. Great post!

    ReplyDelete
  3. Justin C SmithDecember 1, 2017 at 6:01 PM

    Hey Olivia,

    Great job on your exit strategy post! I think its great that you've identified that the business doesn't suit your long term lifestyle you want to live, but it would be a great learning experience and source of income for future business ideas. Handing over the business when its in a good position will be hugely beneficial the amount of money you can get from it, and your reputation won't be hurt. Once again, awesome job!!

    ReplyDelete

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