Your Exit Strategy
28A- YOUR EXIT STRATEGY
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?
This is if the business is a success: I plan to stay in the business for as long as possible and when I think it's time to move on retire that is when I'll do it. Retiring will probably be the last thing on my mind until I become too old I guess.
I haven't really thought about what to do if the business fails.
2) Why have you selected this particular exit strategy?
I selected to stay for as long as possible because the economy is changing and it is becoming harder to retire with enough money to live comfortably. I think this is the best exit strategy to chose from and all the other ones don't have a great future in front of them.
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?
The only way my exit strategy has influenced my other decisions is by making me want to do anything to make sure the business is a success. If I see a way to make more money for the business I will go out my way to get it. I haven't come up with ways to acquiring resources and things of that nature.
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?
This is if the business is a success: I plan to stay in the business for as long as possible and when I think it's time to move on retire that is when I'll do it. Retiring will probably be the last thing on my mind until I become too old I guess.
I haven't really thought about what to do if the business fails.
2) Why have you selected this particular exit strategy?
I selected to stay for as long as possible because the economy is changing and it is becoming harder to retire with enough money to live comfortably. I think this is the best exit strategy to chose from and all the other ones don't have a great future in front of them.
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?
The only way my exit strategy has influenced my other decisions is by making me want to do anything to make sure the business is a success. If I see a way to make more money for the business I will go out my way to get it. I haven't come up with ways to acquiring resources and things of that nature.
Gerielle, the best way to make sure things are done the way you want them is to do them yourself. There are countless companies run by older people because they have the most experience within their own company and the industry. The more experience you have the better you will be able to conduct business and make decisions efficiently and overall more successfully.
ReplyDelete