For my exit strategy I plan to stay with my business for
several decades then retire because it is something I think I would enjoy doing
for years to come. And If possible I might even pass the business down to my
children. I chose this strategy because I don’t want to sell my business and
the vision I had when I started becomes construed or even lost so I’d rather keep
my business and continue working for the next several decades. I think my exit
strategy did influence the opportunity I identified because I wanted to find a
need that would forever be needed not something that was just temporary. And I
wanted an opportunity that could be expanded and have the ability to create
more than just one product.
Hey there Katelyn, I think your exit strategy is pretty solid and actually matches the nature of your product. It is clear this is not a cash grab or anything of the sort, it is endearing that you plan to leave the business to your children. It makes sense since the need is not meant to be a temporary fix but it is meant to have longevity.
ReplyDeleteHi Katelyn, I think that you have a great exit strategy for yourself because if you spend a large amount of time and energy growing something, I feel like most people would want to see it through until the end. I think your idea of expansion opportunities is important in making your decision because a business idea like yours has lots of opportunities to continue growing. Great work!
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