1.) The exit strategy that I plan to make is along the lines of keeping with my venture for maybe the next 5-10 years, and then either sell it for profit, or turn it over to the people I’ve selected for my team. As a long term goal for my life, I’m planning on working in the medical field and in 5-10 years, I’d be at a point in my life and career where I’d need to focus more on that area and I feel like I wouldn’t be able to single-handedly give the venture as much effort as it deserves.
2.) I’ve selected this particular strategy because I feel as if it would be fair to try and turn over the program to the people that I would’ve chosen to help me bring it to life and the help grow it even more. Also, I feel like if I went down the sale route, I could use the basic app principle and sell that to a variety of areas for a great profit.
3.) As far as the other ideas concerning my concept, I think the exit strategy I came up with is keeping in mind the assignment from a few weeks ago where we had to look at a completely different demographic to sell our product to. In that assignment, I really got to thinking about the different uses of the app infrastructure rather than just the cleaning matching service. I think by thinking of a potential exit strategy, I see a lot more room for growth and versatility in the app/ service ideas than I ever did before.
This comment has been removed by the author.
ReplyDeleteYour exit strategy really portrays what you think will be best your business idea! I had a similar exit strategy and I think it is a great exit strategy. I don't see myself working to make sure my business becomes a family business. Working to keep the business alive for several years would be ideal because you could get a sense of what it's like to run a business and see if that is what you want to keep doing forever.
ReplyDelete