My exit strategy is that I don’t plan on getting out of the
business. I would love to have my own business and have it stay with me as I grow
older and grow in knowledge about my market. I hope that I never have to sell
my business and that I can hopefully pass on the company to my children. I don’t
want to see my hard work going into a company and then have to sell it to
someone who doesn’t share my aspirations about my first venture.
I think that not having an early exit strategy has forced me
to think of solutions that are better for the long run and not just a quick
resolution. I am also always looking for new opportunities that could help grow
the business and possibly let it break into new markets. My exit strategy has
also kept me from reaching too high to fast because I don’t want to jeopardize
the company. I want to keep my company for decades and hopefully never have to
sell to anyone and keep the business in the family.
Hey William,
ReplyDeleteIt's great to hear that you want to dedicate more into your business to ensure it's success. It's true that simply selling a business that you started because of your aspirations would be a hard choice. Being able to keep a successful business to be able to pass it on to your children would be fantastic Hopefully it works put for you as being aware of your possible exit strategy enable you to be informed on your current and future state. Good job! Check out my blog at http://jpmorgan15.blogspot.com/.
Regards,
Juan Parra
Hey William,
ReplyDeleteIt is interesting to see your point of view regarding staying in your business for a long time after reading some of the other responses where some people would rather get out of the business and move on to something else. I am someone who would want to start a new chapter and maybe try something else, but I can respect your plan to stay with your business that you built forever. Here is my blog: http://jaredpape.blogspot.com/