- I would stay with my company Sleep Belt, until I have made enough money to start a new venture. I would eventually sell it to a larger company or investor for a large return, while maintaining a role in the business that would enable me to earn royalties for years to come.
Why have you selected this particular exit strategy?
- I selecting this particular strategy because while I would be thrilled to make a lot of money off of one idea, I prefer having the ability to create new ideas, without having to worry about continuing work on old ones. Also, while this idea is one I would like to see work out, I am not fully interested or passionate about it as I am other potential concepts.
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?
- My exit strategy has influenced my decisions to work heavily with other businesses, market my product to other businesses, and plan to possibly acquire investors. Because I do not plan to keep the company forever, working with potential businesses who might purchase my company in the future, is great for showing them the potential profit to be made by doing so. I also hope to grow as much as possible, but wouldn't be discouraged by a peak in growth, because I do not plan on maintaining the business for a long time. I simply look to profit in the short term enough to pursue another idea, next time with more financial capital.
Hey Owen,
ReplyDeleteI feel that your exit strategy is a smart one and I especially like what you have to say about staying with the company in a small way for royalties. I feel that this is a smart idea as you did create the product to beginning with. I would like to do this as well and I also planned on selling my company to a large supplier like you mentioned as well.
Thanks, Zach L.
Owen,
ReplyDeleteThat is a very smart exit strategy and I like how you will still be a part of the company after you sell it. I agree that you should wait until you have made a large enough return to sell the company to an investor. Then using the money that you have made to start a new product is a great idea and a great way to then make more money.
Owen,
ReplyDeleteI like your idea of staying with your company until you make enough capital to start a new idea and venture. I also had a similar idea to still play a role in my original business to keep it within reach. I think using one idea to go out and create a new idea is a good way to become a very successful entrepreneur.