28A- Your Exit Strategy
Due to the nature of this business, I don’t see this being the type of venture I could start then discontinue. I didn’t choose this idea to be profitable or popular, I choose it because I was passionate about the issue. For this reason, I’d want to continue this venture to grow it personally, with integrity. I chose this strategy because I don’t think this business with pop off quick, I think it’s a brand that’ll take a long time to develop and gain consumer trust, and that’s my goal, not profit. I’ve definitely tried to develop a company culture for this venture because my exit strategy was this way, I’m thinking long term and investing in the little things now, I wouldn’t be so careful if I planned to exit quickly I don’t think. I’ve been a lot more conservative with the resources I have and been far more meticulous when making business decisions. I think having a long term exit strategy has encouraged be to create a more sustainable business though, so I don’t regret being so conservative.
Hi Ty,
ReplyDeleteI agree with you and I don't think I would choose to give up my business either. I think if you are passionate and are successful there is no need to change it! Especially for your business, since it will take time to grow, you would want to be there at the peak of its business cycle and be there to see it succeed. It was smart of you to think of your business in terms of the long run, since you plan to stick with it. Overall, I think your exit strategy is well planned and organized.
Hi Ty,
ReplyDeleteYou chose a very different business venture from me. I personally would sell my business. I think that you keeping the business makes sense, though, because you are passionate about it. I am not particularly passionate about my business idea, which has to do with parking. I would see my business as an investment and grow it as much as possible to ultimately sell it for a profit.