1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? I would like to stay with my business for as long as I can and if my children want to carry on the company then they are more than welcome.
2) Why have you selected this particular exit strategy? I chose this strategy because clothing design is truly a passion of mine and I would like it to be my occupation for as long as possible. I also don't want to force my decisions on my kids so I would let them decide if they want to continue the business
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources? I suppose it has influenced my growth intentions because if I wasn't doing something I was really passionate about I wouldn't have the substantial goals that I want to accomplish.
Hi Derek,
ReplyDeleteLeaving your business to grow and to be inherited is a risky deal, but probably that that is most gratifying. Even more when we are talking about something as unique and personal as clothes designing. I understand that your intention would be to pass along your passion and creativity along with the success it has conveyed to future generations, it is actually very inspiring. I wish you the best of luck in such venture and I truly admire your plan. You can take a look at my plan here http://ent3003cesaralfonzo.blogspot.com.
I think that your idea is really great and I love that you want to stick with it. My dad owns his own company and my brothers have begun to inherit it and they really love it so I hope it goes the same for your family and company. I wish you the best of success in the future! Here's a link to my post if you'd like to check it out: http://kalimcauleyentrepreneur.blogspot.com/2016/04/my-exit-strategy.html
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