28A: 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?

To be honest, as this is not the field that I want to spend my career in, I would be completely open to selling the company for a return. If I can find a buyer that I know will take care of its clients and employees, I will gladly sell it.


2) Why have you selected this particular exit strategy?

Book publishing software is simply not the world I want to live in for the rest of my life. I found a solution to a problem that affects thousands of college students around the country, and I've done my job. I would rather spend my time doing something else that interests me. I would sell the company to someone who I know cares about the company.


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?

It has not affected any decisions I've made for the company, as I had not considered selling the company before this moment. Before thinking about selling the company, I put all efforts into the venture, and was not clouded by this decision.

Comments

  1. VictoriaApril 9, 2019 at 4:47 PM

    I choose to sell out as well. My decision was more or less based on my personality and life choices. First I love starting new projects and getting them up and going. Then I start getting bored with them once they are thriving. I think in this sense it would be best for me to sell out and start something new. Also, in five years I want to consider other adventures in life that may not require me to be tied to a business. My project in this class was creating a nonprofit and I don't see myself being tied to that more than five years.

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  2. laityn russellApril 10, 2019 at 5:04 PM

    Hi Fede,

    I too choose to sell out and pusher bigger projects. I chose to do this because I am more interested in the input aspects of my idea rather than the day to day managerial procedures. Considering where I want to be in five and ten years, I tried to set up my business to where it would be easy to sell and pass on. I also considered how I can use it to get a leg up in my bigger interest in coffee roasts.

    ReplyDelete
  3. ChrisApril 12, 2019 at 10:24 AM

    I believe that selling the company is the main goal of many entrepreneurs, myself included. I would plan to sell after about five years. I agree with you, this venture is not what I picture myself doing for the rest of my life, but it was fun to think through the process. I have really enjoyed reading your posts throughout this class.

    ReplyDelete
  4. Alex FastApril 15, 2019 at 8:46 PM

    It seems a lot of people decided to sell their company after it becomes profitable, many for the same reasons you listed. I think it's rather interesting, I personally wouldn't go into a business in something I'm not passionate and interested in because I'd like to keep all of the businesses I create (and also because I don't trust anyone but myself to treat my employees well). Regardless, I think that moving on to pursue newer/bigger/better/more interesting projects is the reality for most entrepreneurs. Great post!

    ReplyDelete

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