For my exit strategy, I would plan to play it by hear with my business. I would probably intend to stay with the business for several decades and retire and then eventually pass it down to children. A business that stays within the family seems like something that would be interesting. I have selected this particular exit strategy because if I started a business I would like to see it grow in the long run and be able to watch it from start to finish. I think my exit strategy has influence the other decisions I've made in my concept because I've made sure to make valuable decisions and shaped my company to be something that could be able to last. I have identified the opportunity in this area and identified my market. I would like to see the growth in the concept and be able to see the venture thrive.
I think its cool how you want to see the start to finish of your business. It is a good strategy to think long term from the beginning of a venture so it will be able to last like you have planned. By having a good foundation of your venture, if you do decide to stay with your business you can know it is a well constructed company.
ReplyDeleteI have the exact same business exit strategy as you. I don't feel like its easy to guarantee that you will do things a certain way with your business because things and interests are bound to change. I think it would be very rewarding to see the growth of a business you put a lot of time and effort into and I could understand why you wouldn't want to just sell it right away.
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