Thursday, April 11, 2019

Assignment 28: Your Exit Strategy

1. If my business turns out to be very successful in the next five years, I would decide to keep it unless some other company could offer me an amount of money that is a lot greater than my view of what the venture is at that point in time. If I did end up keeping it and it continued to be a success, I would definitely end up retiring and passing that business on to someone else or sell it to a large firm. I do not intend, at the moment, to even have children so if I were to make it more of a family business I would give it over to one of my siblings that needs it. 
2. I want the best for the company and for my family. So if it turns out being great and I keep it I would hand it over to one of my siblings whenever I saw fit.
3. I don't think my exit strategy really impacts my opportunity since I would make sure that the business would be carried on to address that opportunity before I just sold it or handed it over to someone. It hasn't really affected my growth intention either because I already have a plan for my education and future that I will not allow anything to get in the way of and I already had this ideal before I even came up with this idea. If it turned out to be a success, it would change how I acquire resources because I would have the means to those resources sooner than I would if I just go with my current plan, but I intend on using those resources in the same way. 

1 comment:

  1. Hey Corrine,
    I agree with your exit strategy and would probably do the same myself. I would probably lean toward selling my business unless I really have all my ducks in a row and know exactly what I'm doing. If thats not the case I would definitely sell. I also think planning for your family is a great idea and something I would for sure need to do myself.

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