28-A Exit Strategy


1) My exit strategy really does come down to if my business is successful or not and how successful it really is. If my business is raking in a lot of money and growing, I think I would keep it and continue to grow it to become a bigger business but if my company is doing okay and I feel as if I cannot make a big difference in the remaining life of my business, I would try and sell it to someone who can grow the business. If I did decide to keep my business, I would keep it to provide for my family until one of my children is old enough to own it, that is, if they wanted to inherit the business. If not, I would sell it and use the money to retire.

2) My strategy relies on what my kids want and how successful I am. I want this strategy because I don't want my children to be born rich and spoiled, I want them to learn on their own, fail on their own so that they can go through the process I went through instead of just being handed money. 

3) This strategy has definitely influenced the decisions I made in my concept because if I plan on selling this business, I won't put all my money and everything into it. I would work hard and put 100% into it, but I would not give up family time or anything personal to make an extra buck. This strategy also makes me think twice about risky investments and makes money into a big deal because most of the funding would come out of pocket. 

Comments

  1. Nala MckieNovember 25, 2019 at 8:41 AM

    Hi Nathan,

    I think that it is really interesting that you have taken the future state of your business into your exit strategy. I think I most relate to the path of keeping my venture. I think you sort of have the mindset to see the business through if it is doing well and continue to grow it. I think I have the same sentiments. However, I think that you mostly would like to keep the business for revenue later in life whereas I would like to open other ventures off of the funding of the first venture.

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