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 would like to sell my business within a decade so that I can use my resources to create an even better business.
2) Why have you selected this particular exit strategy?
Because I have more than just one idea and I think it would be great to take the guaranteed money and then invest in another entrepreneurial endeavor.
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?
I don't think it has really affected my decisions, I've made decisions in the best interest for the company, so as if I was going to be a part of it forever.
I also decided that I would sell my business after a couple years of operation. I think the best bet is to still hold a large enough share of the company to not be the main overseer. It's always nice to have a guarantee in life and I mentioned on my post that if someone is willing to buy something from you, you should sell it while you still have the opportunity.
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