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?
If I were to make this business come to fruition it would be very hard to sell. I would have the opportunity to work with an industry I love with a team of people with similar goals. I would try my best to continue expanding the business and increasing profits. When it is my time to finally retire I would either try to sell the company or pass it down to my children if that is an option.
2) Why have you selected this particular exit strategy?
I selected this particular strategy because I would love to work for a company involved in the music industry. It would help me stay creative and eager to work.
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 my exit strategy definitley influenced different decisions in my concept. If I plan on running and not selling it than I would structure the industry differently. I would make it more individual rather thank structure it the way someone trying to acquire it would prefer. I would grow the company with coworkers that are likeminded and believe in the idea.
Bram,
ReplyDeleteI agree that it is extremely hard to pass on an idea that you have came up with a company once it gets up and running. I see how many companies receive millions and billions of dollars but still turn them down because they love what they are doing and do not want to pass it down to the hands of others. You never will have someone treat a company like your own besides your own family. Upon retirement, if your kids or family have any interest in the company, I would always look to them first.
Hi Bram,
ReplyDeleteI think it is really cool that you have found an idea that you are so passionate about. Your exit strategies make it apparent that you are very invested in this concept, which I think can only help when you're establishing a company. I think the ways in which your exit strategy would influence your decisions are really interesting as well. Mine had more to do with the acquisition of resources, whereas yours seem to be more about structure and personnel, two things that I hadn't considered much previously. Both of those affects your exit strategies might have make a lot of sense, I completely understand why you would want to structure your company according to your own preferences if you are not planning on leaving it.