1) I think if I were to pursue this venture, my exit strategy would be to build value for a few years and then sell the business. To me, this doesn't seem like a business that could grow to be a large company and therefore while it could be successful in its own right, I think the ceiling for growth will be hit fairly quickly.
2) I chose this exit strategy because I dont think this is something that I would want to pursue over a long time because I would much rather work my way up in an already established and secure company.
3) I think my planned exit strategy probably has affected some of the other decisions I've made throughout the class. I think it made it harder to think about log term goals for this business because I wasn't planning to stick with it long term. It also influenced my opportunity decision because I chose something that was relatively niche and wouldn't take long to set up.
Connor,
ReplyDeleteI am in the same boat as you are, as I would also build the value of my company for a few years then I would sell it for a large sum of money. For me, I think it would be too much work to sustain a business for that long. I would like to one day just have a normal job and not have to worry about running my own business. I agree with you in that my business is also something that I would not like to pursue over a long time, also for the same reason as you, I would rather work my way up for an already established company.
Connor,
ReplyDeleteI agree that it was hard to think of long-term goals in the assignment at times, especially if one is not planning to stick with it long-term. However, I think the assignment has definitely provided exposure for decision making, networking, and elevator pitching. This exposure can also be put to good use for future or similar endeavors in the business world.
Connor,
ReplyDeleteI agree with you that if a business can not grow over time, you should sell it instead. I think being an Entrepreneur, one must realize that when one should sell the company to avoid loss. I think you want working for a mature and stable company is a great choice. I think for most of us, find a stable job is really important.