1) Identify the exit strategy you plan to make. I intend to sell my business in the next 5 years. I don’t see myself in the world of retail, so I would like to sell the company so I can take a different career path.
2) Why have you selected this particular exit strategy? I have selected this particular strategy because I don’t want to be in the retail business. I want to take a different career path while also pursuing my idea for the product.
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? This has influenced some of my other concepts because I know my intentions aren’t long term. For example, in a past assignment, I said I wanted to partner with a larger corporation because they had existing connections in retail and manufacturing. That way, it would be easier to take over.
Hey Taylor,
ReplyDeleteI also said that I would plan on selling my business in the next 5 years because although I feel I would be able to connect to my consumers, I would not be able to grow it without having experience in business. I would also sell it that soon because it is not my passion in life to be a business man, but rather to work with athletes. I differ with your view on the intentions however, because although I would sell my business, I would still want to play a large role in it's upcoming and hopefully be successful so that when I do sell it, I would get more money for it.