Hey, Ben! We had the best exit strategy for the same reasons. However, I was affected by my strategy early on in the business concept creation process while you seemed to not be affected at all. I wish you would have included a picture too. Some of the ones I've seen have been pretty funny. Nicely done over all! Here is the link to my post if you would like to check it out: http://nika-uf-ent3003.blogspot.com/2016/04/my-exit-strategy.html
Depending upon the business and industry you are in, it is sometimes best to sell your company within 5 years. For example, the last post I did a review on was about a mobile app based company. Companies like that only last so long, unless it's a large corporation. In some industries applications update every month, making it wise to sell your company while the profits are hot, and buyers would be interested. I am unsure of what your business is, but I am sure that you have the right idea in mind. For my company, I would want to grow it as much as possible and either promote someone to take my spot, or pass it down to the next generation, whichever works at that point in time. If you're interested here is my blog post: http://niblaidoc.blogspot.com/2016/04/my-exit-strategy.html
Would you be interested in staying involved in your business after you sold it, or would you want to sell it and be completely focused on your new ventures? It must be difficult to give up control of a business you started yourself, but if you have other aspirations, I guess that would be a necessary step. In my exit strategy, I would give up control of the business but remain involved. This may just be wishful thinking, and I would not have any power to keep myself in the business.
Thanks for sharing. Here's a link to my exit strategy. http://jamestyrrell.blogspot.com/2016/04/my-exit-strategy.html
Hey Ben, I completely agree with selling the business for a profit when the company succeeds. I would choose the same thing should my business "catch fire." Considering we are young, we have a lot left to do in our lives and sticking to one business my be less beneficial.I sadly did not complete this assignment.
Hey, Ben! We had the best exit strategy for the same reasons. However, I was affected by my strategy early on in the business concept creation process while you seemed to not be affected at all. I wish you would have included a picture too. Some of the ones I've seen have been pretty funny. Nicely done over all! Here is the link to my post if you would like to check it out: http://nika-uf-ent3003.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteDepending upon the business and industry you are in, it is sometimes best to sell your company within 5 years. For example, the last post I did a review on was about a mobile app based company. Companies like that only last so long, unless it's a large corporation. In some industries applications update every month, making it wise to sell your company while the profits are hot, and buyers would be interested. I am unsure of what your business is, but I am sure that you have the right idea in mind. For my company, I would want to grow it as much as possible and either promote someone to take my spot, or pass it down to the next generation, whichever works at that point in time. If you're interested here is my blog post: http://niblaidoc.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHey Ben,
ReplyDeleteWould you be interested in staying involved in your business after you sold it, or would you want to sell it and be completely focused on your new ventures? It must be difficult to give up control of a business you started yourself, but if you have other aspirations, I guess that would be a necessary step. In my exit strategy, I would give up control of the business but remain involved. This may just be wishful thinking, and I would not have any power to keep myself in the business.
Thanks for sharing. Here's a link to my exit strategy. http://jamestyrrell.blogspot.com/2016/04/my-exit-strategy.html
Hey Ben,
ReplyDeleteI completely agree with selling the business for a profit when the company succeeds. I would choose the same thing should my business "catch fire." Considering we are young, we have a lot left to do in our lives and sticking to one business my be less beneficial.I sadly did not complete this assignment.