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 plan to stay with my business for about 7-10 years and to build it up so it owns most of the red ocean market share. I want to eventually sell the company to a larger company and potentially work for that company. I think licensing my product to colleges and fitness centers might be a better strategy because I would get residuals for a longer period of time.
2) Why have you selected this particular exit strategy?
I have selected this particular exit strategy because I think it is the best way for me to make money and to build up my company into its greatest potential that it can possibly be.
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 think that my exit strategy has influenced my other decisions that I have made in my concept. I think that licensing my product and technology will reap the most benefits for me in creating this company into something larger than merely a shower shoe company. It has directly influenced my growth intentions to go into the medical market, the beach market, and the farming market.
A rough prototype example of my product can be seen below:
Hey Max,
ReplyDeleteI think that your plan to keep your business for 7 to 10 years to improve is great. You are thinking professionally about how to receive the most money and reap a lot of benefits. I, on the other hand, would not be able to sell my business because I am too passionate about it. However, obviously, everyone has a different end goal and I think that your exit strategy is still great. If you want to check out what my exit strategy is, here is the link:
http://andreacdona.blogspot.com/2016/04/my-exit-strategy.html
Hey Max, I think that you have a great exit strategy and I can see that you've put a lot of time into planning it. I also agree that it's a good idea to sell your company only after you've maximized the market share potential. 7-10 years is a good goal to set forth, and I'm sure that in this town you would be able to make the most out of your business before you move onto other ventures. Good luck with your company, and here's a link to my blog post so that you can check out my exit strategy.
ReplyDeletehttp://camcoop8.blogspot.com/2016/04/my-exit-strategy.html
Hi there Max
ReplyDeleteThank you for sharing your exit strategy with me. I really enjoyed reading it and I think you made some really good points in this blog post. I think you have a really great plan for your product and business. I think it would be really smart to license out your product and I think it would definitely garner more revenue by doing that. Overall, great job! Here is the link to my blog post in case you want to check it out: http://lbritthoff.blogspot.com/2016/04/my-exit-strategy.html