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
intend to keep the business because it is something that I believe in and do
not want to see someone else take over the business and forget about its
importance. I created this product to help society and save lives. I hope one
day my family will take over the business if they have the same opinions
towards it. If they wish to do so, I will be able to retire and keep it within
the family.
2)
Why have you selected this particular exit strategy?
I
have strong beliefs towards this opportunity and do not wish to see it go down
the drain if someone else takes over. That person may not have the same values
towards my product and may choose to ignore the importance of it. If I can keep
it within my family, it will show others how important this issue is and that
we are not interested in solely making money, but on saving lives.
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?
It shows that I am dedicated to my
business and do not wish to have someone else destroy all the work that I’ve
put into it. It has given me more opportunities than I could have imagined. It
has influenced other perspectives as to what this product currently represents
and what will and can represent in the future. This opportunity has helped me
come up with more ideas for this product and has shown me how to expand my
market instead of solely focusing on one specific region or age group.
I can see your passion for your business. Not many people want to handle the headache that can sometimes be from a start up company. There have been many cases of large organizations going for sale and not being sold then later getting off the market and their value goes up wayyyy more. I think you can't find anyone to care about your company more than you, no one is going to have the same passion and dedication.
ReplyDeleteLourdes,
ReplyDeleteI think you've made a smart decision to expect to keep your business rather than sell it someone else. I think it does say something about your dedication and confidence with your idea. I've been a fan of your venture since the beginning and can't understate how important it is that you're looking to advocate against driving under the influence. I think if you maintain you're strong ideas and continue to be open to adapting to the feedback you get, you could actually make this a reality one day.
Keeping your business is an excellent idea! I feel the same way about my hobby, and at times there is no one who can do it better than one. Especially with this business, if you are passionate about it so then you are capable of expressing yourself to those who need a little inspiration to keep them safe when driving. Inspiration, passion and determination are key to success in a business.
ReplyDelete