Exit Strategy
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?
2) Why have you selected this particular exit strategy?
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?
Answer on this set of questions would be it depends of multiple factors. It depends on different personal and business circumstances of this or that period of time. My experience shows me that even when I plan on something longterm it turns out absolutely differently, other way around and change the whole plan. For example, if it grows large enough generating tremendous annual return there would be no point selling it within the first 5 years. Also, it depends on analyzing the facts where to invest in case of sale at that period of time, would there be something better available on market to acquire or start new business with great potential perspective ? Will I loose my interest in that particular type of business and need to change it completely ? I definitely don't intend to stay with the business for several decades and retire unless I make it passive for myself. I intent to open multiple business and become more passive investor over the time. Becoming more passive investor will allow me to spread my time on things that I love to do. My goal is to contribute one hour a day to the business and making things that I enjoy such as traveling, exploring the world and different people, socializing, getting new life experience and emotions. Overall, to make right decision what exit strategy to choose, it is important to see all different options and evaluate them accordingly.
2) Why have you selected this particular exit strategy?
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?
Answer on this set of questions would be it depends of multiple factors. It depends on different personal and business circumstances of this or that period of time. My experience shows me that even when I plan on something longterm it turns out absolutely differently, other way around and change the whole plan. For example, if it grows large enough generating tremendous annual return there would be no point selling it within the first 5 years. Also, it depends on analyzing the facts where to invest in case of sale at that period of time, would there be something better available on market to acquire or start new business with great potential perspective ? Will I loose my interest in that particular type of business and need to change it completely ? I definitely don't intend to stay with the business for several decades and retire unless I make it passive for myself. I intent to open multiple business and become more passive investor over the time. Becoming more passive investor will allow me to spread my time on things that I love to do. My goal is to contribute one hour a day to the business and making things that I enjoy such as traveling, exploring the world and different people, socializing, getting new life experience and emotions. Overall, to make right decision what exit strategy to choose, it is important to see all different options and evaluate them accordingly.
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