#28 – Your Exit Strategy

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1. In the next five years, I hope to have grown this business to a national scale and to have become one of the market leaders for running applications. I intend to sell my business, most likely to one of my competitors, for a large return. However, if we are well established and financially stable and someone in the company wants to take over, I will evaluate the option of passing down the business.

2. I have selected this particular exit strategy because I don’t want this business venture to be my whole career. I think it’s a good start for the direction of careers I want to pursue, and I’ll definitely gain a lot of useful skills and experience from it, but I don’t want to rely on a specific app business for the rest of my life.

3. I think this exit strategy has influenced my decisions in some ways since I knew from the beginning that I didn’t want to do this my whole life or for that long. For example, this influences my growth intentions because I want to quickly develop the app and raise capital to get the business running, that way it’s an established business/product in five years for me to sell to another company for profit. After that, I can then move on to what I really want to do and use the experience of this business to help me excel.

Comments

  1. Angel Torres-VargasNovember 23, 2019 at 9:25 AM

    Hey Taylor! Your plan sounds like it may be stressful but rewarding! I didn't think about your solution being an app product first, but mainly about the ankle bracelet for the pace timing. You could also sell the technology of the ankle bracelet to a fitness/technology apparel company like Fitbit, Apple (for Apple Watch), etc. For me, I didn't think about an exit strategy while doing my assignments haha.

    ReplyDelete
  2. Herzen VallejoNovember 25, 2019 at 8:45 AM

    Hello Taylor,
    Your exit strategy is different from mine and I can see that you have a different vision for your business venture in the future. After watching the lectures this past week and reading some post of other students, professor Pryor was right about man trying to keep their idea while women are more likely to let go and keep moving along to new things.

    ReplyDelete
  3. Matthew RubinNovember 25, 2019 at 10:27 AM

    Hey Taylor!
    Your exit strategy is very similar to my exit strategy. I plan on having my business grow on a massive scale, then selling it to one of my major competitors for a large return. I included the want for royalties on my product. I agree on the want to have a thriving career apart from your business, and use the business money as an emergency fund.
    Great post!

    ReplyDelete
  4. Matthew MrnacajNovember 25, 2019 at 11:59 AM

    Hey Taylor!

    I really enjoyed reading your post! I also don’t see myself making a full career out of my business venture. I mainly see myself staying local in my hometown area and not expanding much larger than central Florida. I have about 3 actual exit strategies though, so if I were to do my business venture, it would all depend on how I do money-wise and how it affects my personal life. Great Post!

    Best regards,

    Matthew Mrnacaj

    ReplyDelete

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