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 selling my API business in a few years. The changing tides of technology would make it become obsolete without someone to adapt with it. I'm not that invested in this idea and I think someone else would be better equipped to devote more time to this project.
2) Why have you selected this particular exit strategy?
I don't want it to a business that I pass down to my children. I'd rather sell it off and make some money to start something that I enjoy more.
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 don't know if it has influenced anything else. My enthusiasm for this venture has definitely declined and that has led to me being less likely to devote time and resources to it.
Hi Parker,
ReplyDeleteI'm curious as to what your idea is that would result in you not wanting to pursue it to a greater degree. I hope you find something that you think will work better! However, I think it's good that you realized something may not have that much potential before you invest in it, rather than lose all your work and money to trying to make it happen.
If you're interested in my post (which coincidentally has the same image as yours and a weirdly similar blog name) here's the link:
http://blogsfirstwords.blogspot.com/2016/04/my-exit-strategy.html
Hey Parker, thank you for sharing your exit strategy with us, I really enjoyed reading about it. I emphasized a lot with you talking about wondering about the potential your idea possesses before investing too heavily into it. I dealt and grappled with a lot of that in my idea, which you can read about here http://jlopez3003.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteParker,
ReplyDeleteI would first like to compliment your work thus far and your business mindset. Like you, I plan to move on from my business after a few years and what better time for us to learn than now? I like how you have the foresight to predict your business' future and adjust accordingly -- that's a strong skill of an entrepreneur. I wish you the best of luck with your venture and have included the link to my exit strategy as well.
http://dipaoloent.blogspot.com/2016/04/my-exit-strategy.html
I look forward to your comment and hope you enjoy the remainder of our semester.
Best,
Louis DiPaolo Jr