1. Although my exit startegy is not something I have thought about I do have one now. I think for me deciding whether to sell my business or keep would have to depend on how much money I am making from it and how much work I am putting into it and if the work is worth the money. I don't think and exit startegy is something you can just decide it is something you have to think about for a while and talk to people about. I think if I was making good money and did not have to work more than usual for my company then I would definitely love to pass it down to my family. If my work load is inusual for how much money I am making from the company then I would definitely try to sell it for a profit.
2. I did not specifically choose an exit strategy but in the above paragraph I explain why I would choose either of the exit strategys I talk about.
3. I think the exit strategys do not really have much affect on my concept because my cliental is so specific and if they need it they will buy it and spend the money. I think it influenced how I want to grow and definitely the intentions I would love to give it to my family but I will not be upset if I under certain circumstances could not do it.
Hey gabby! I think I feel just about the same way you do about your exit strategy. In order to know what you what to do with the future of the company you kind of need to feel it out first and go with the flow. I too think that it would be awesome to pass off the company to a family member because I think it makes the company that much more special by having the family name attached to it. Awesome job!
ReplyDeleteGabriella,
ReplyDeleteLike I have said in the past, I love the idea and I think it would be a huge success! With that being said, great job! I have enjoyed reading this business idea from day 1!! It is tough to have an exit strategy when you are solely focused on getting it up and running! But, you also have to know when it is time to quit too! I think it would be great to make this company a household name and to be able to hand it down to your kids! I too would like to grow my business into a success for my children! Great work!!
I think its a good idea to judge whether you want to stick with the business based on how things turn out for sure, and realistically everyone isn't really make that decision until the time comes, but it is also nice to know which direction you want to head in (have a strategy). With mine I am pretty sure I'm just going to cash out as soon as possible, but making it a family business is a nice concept.
ReplyDeleteI understand your point of view on seeing how your business is running before deciding what kind of exit strategy you would want to have, I have a couple of options also for my venture. It’s hard to tell what the future holds and what outside circumstances could impact your company at any time. Working at the company I am at now, we barely survived 2009 since we strictly manufacture steel stairs for new apartments and there were none being built, but we were able to downsize and make it through and now we are busier than ever. With that being said, good luck in all your future ventures and hope to use your concept one day on my boat!
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