The exit strategy I plan to make is to sell my business in the next 5 years once I have developed a solid and dependable solar charging station. Once I have broken into the market and sold my product to at least 3 different college campuses or businesses, then I will take the opportunity to sell it to someone who is an expert in the market and can take my business to the next level of profitability.
2. Why have you chosen this strategy?
I have chosen this strategy because this is a business that I most likely would do as a hobby/on the side, while still trying to go in the direction of the career I want to have. Once I get the business up and running it will be a lot of work and require a lot of time to run it once it becomes successful and the demand increases. Selling the business would allow me to make money from selling it while also providing people with a sustainable product from the person who takes over my business.
3. How has it influenced your decisions?
This strategy has influenced my decisions in a number of ways. First off, I wanted my business to be something that I could develop and then sell for a large amount of money while still keeping the business going by a different owner. It has influenced how I use resources because I can start out with a small amount of capital and use the solar contractor to help me make my product at a low cost. Once it is up and running it would be marketed to many different universities across the country emphasizing sustainability and then be sold to them, making a lot of money. This would attract someone to buy my company after seeing that it is profitable, who has a lot more experience in the marketing and business strategies than I would have if I were not to sell the business.
2. Why have you chosen this strategy?
I have chosen this strategy because this is a business that I most likely would do as a hobby/on the side, while still trying to go in the direction of the career I want to have. Once I get the business up and running it will be a lot of work and require a lot of time to run it once it becomes successful and the demand increases. Selling the business would allow me to make money from selling it while also providing people with a sustainable product from the person who takes over my business.
3. How has it influenced your decisions?
This strategy has influenced my decisions in a number of ways. First off, I wanted my business to be something that I could develop and then sell for a large amount of money while still keeping the business going by a different owner. It has influenced how I use resources because I can start out with a small amount of capital and use the solar contractor to help me make my product at a low cost. Once it is up and running it would be marketed to many different universities across the country emphasizing sustainability and then be sold to them, making a lot of money. This would attract someone to buy my company after seeing that it is profitable, who has a lot more experience in the marketing and business strategies than I would have if I were not to sell the business.
Very interesting idea! I like how you try to be green even when you exits the venue you are still trying to be green and not just sell it but have someone take over it to have the same objective in mind. Hopefully your exit plan works out! I believe marketing to the college is a lot harder than it seems.
ReplyDeletehttp://notimportantrightnow.blogspot.com/2016/04/my-exit-strategy.html
Hey jennie,
ReplyDeleteI should say something to earn credits for this assignment, but I have nothing to say because it is your business. How will I be able to advise you to sell/keep your business? All I can say is that you seem prepared about this plan, and it will work out! Great job jennie!
Hello Jennie,
ReplyDeleteThis was a great post! We were both similar in the sense that we wouldn't mind selling our businesses in the future, especially if it would have a really nice return or help people tremendously. I really like your reasoning to sell your business, to hopefully find someone that would improve upon it and make it better. You can check my post out here at http://bradksingh.blogspot.com/2016/03/my-exit-strategy.html
Hey Jennie,
ReplyDeleteI had a similar plan to keep my venture for 5 years. I also agree that it’s great to pursue you venture on the side. That way, you have some type of income when you wait for business to pick up in your venture. I am curious to see if the new owner will continue with your methods of production and management.
If you have the time, check out my post at
http://entoni3003.blogspot.com/2016/04/my-exit-strategy.html
Hi Jennie! I think it’s interesting that you plan on selling after five years. I’ve actually read a lot of posts that said exactly the same thing so there must be a trend going on here! I completely understand having other career aspirations though that might take priority over the start-up. Here is the link to my blog. Feel free to check it out! http://thereseverything.blogspot.com
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