Friday, April 17, 2020

28A Your Exit Strategy

1.) In terms of exit strategy, I plan on holding onto my company for at least 10 years before selling it for a large return. I say 10 years because I want to establish my company and ensure it's sustainable. 

2.) I selected this particular exit strategy because I want to expand my diversity in the types of business I deal with. I don't plan on working within the same industry my whole life. I'm someone who enjoys change and takes it as a challenge to enhance my work. I also wouldn't consider making it a family business for generations to come because what if that particular trade isn't something they're interested in. Growing up, kids develop different interests and I would want my kids to exploit those interests by pursuing careers that they value. 

3.) One thing my exit strategy may affect in my concepts were my plans of expanding overseas once my product is domestically established. There's a 10-year window for that to take place so it may still be a possibility. Other than that, I don't think it influences any of my concepts as I had this exit strategy in mind initially. 

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