28A – Your Exit Strategy
1. I intend to grow my business to all that it is worth, and if an opportunity comes for me to sell, then, of course, I will take that opportunity, but my main goal would be to run this business to the end. My existing strategy will be when I retire and hopefully pass on the business through my family.
2. I choose this to be my exit strategy because I want to grow and run the business to my full potential and then pass it on through my family to keep it in the family name.
3. I think this decision relates to my human capital and personal goals. I personally would like to take the business that I grew from the ground up as far as I could and, in the end, look at my progress. From there, my family can do what they think there’s exit strategy is best for this. What I mean by this is if they decide to sell it or grow it till they retire also. It has influenced my growth intentions and how I plan to use my resources.
Hey Savannah, I like how you felt that it was better to wait before making a decision on how you would execute your exit strategy. Seems like you're using more different times or situations call for different measures. You never know what the world may bring you such as what we are dealing with now with this virus. I'm glad I sold my restaurants before this whole thing started.
ReplyDeleteHi Savannah,
ReplyDeleteI agree that waiting to grow your business to its best potential is a smart move. I like how you chose to keep the business in the family. It is interesting to see how other factors can influence our exit strategies, such as the current circumstances because of the virus.
Hey Savannah,
ReplyDeleteI really like your mindset to take this business idea all the way and not having to sell it. Passing it onto your family will just come to show all the work you put into your idea. I personally decided I would sell my product in a couple of years, mainly because of the market and how I expect for it to perform in the near future.
Savannah,
ReplyDeleteI think your exit strategy shows your tenacity you have to continue the success of your business, an important trait to have in the business world. Rather than creating ways to exit your business should it come to that like I did, you proved you are in it until the end, which is admirable.
Hi Savannah,
ReplyDeleteI really enjoyed reading Your Exit Strategy. It is really great to hear that you will do whatever it takes in order to keep the business running until the end. It would also be really cool if you were able to pass the company down through your family. I wish the market that I am entering would let my business continue like that.
Hi Savannah! I also think one should run their business to its fullest extent in order to take out what you’ve put in. Obviously if a better opportunity comes along and you can sell the company for a good profit, I’d say go with it. It’s all about weighing your options. However, in the long run I would always recommend staying with your company and expanding its success as much as you can .
ReplyDeleteHey Savannah,
ReplyDeleteI really like your exit strategy of not really picking an exact one. I think that is the smartest option because you never know how circumstances will change and you have to be ready for anything. Keeping your business and passing it on to your family is something that requires a lot of care and effort but can be very rewarding for yourself and your family.
Hello, great post! I had similar intentions with my business as well. I want to grow my business to all that it is worth, but I would want to sell it when the chance arises. In many instances, you find businesses that were once worth a lot, now they are practically obsolete. I would get out while I have the chance. More so, I like the idea of passing your business onto your family, that is very thoughtful. Overall, excellent post!
ReplyDelete