1. My ideal exit strategy for my business would be to hold on to it for a while and see how things are. There wouldn't be any reasons that I can see now where I sell the business in the foreseeable future. Unless the workload becomes unbearable or it interferes with my personal life and goals, I would like to keep the business and tell my children about it.
2. The reasons for my strategy is because my business is an application that doesn't require a a large amount of human capital, and it is very unlikely for the business to expand into something huge where I am incapable of being in charge of it. However, I am not against the idea of selling the business if it gains momentum and I feel like that part of my life is done.
3. I think my strategy of hoping to keep the business by my side has influenced my decisions about the opportunity in a way that I am not so concerned about the application making a huge profit, but more so just solving peoples needs. I'd be making decisions to maximize my businesses chances of making a lot of profit if I had the goal of selling it in the future.
Hey Yung-Teng,
ReplyDeleteThis is a very interesting assignment, since it focuses primarily on the personal desires of each potential entrepreneur. Your exit strategy, in my opinion, would definitely work, and it would really help show your family what private district jobs really look like. My strategy was pretty similar to yours, however, I have a timeline on mine, since I plan on doing other things in the future and don't want my business holding me back.
I like your aspirations of creating legacy. Given, I have four kids and one the way, this too is my goal�� I would consider that rapid development of technology and the low barriers of entry for software solutions. If you don’t innovate and reinvest, your success could quickly expire.
ReplyDelete