Sunday, July 31, 2016
My Exit Strategy
It's a hard decision to make. I guess it all depends on how successful the business is. If the company wasn't profiting as fast as I was hoping for, then I would probably sell the company for a substantial amount of money and start something different. Ultimately, I would love to have a successful business that I could pass down to my children. So, like I said it really all depends. This business would definitely fall into the exit strategy of passing it down through my family. I wouldn't venture into a business concept without striving to achieve that goal. Everyone is going to need help budgeting. So this opportunity will always be there.
Subscribe to:
Post Comments (Atom)
Melanie,
ReplyDeleteI agree that people will always need help budgeting-- these skills will cross over into many different ventures and businesses. I also agree that this kind of decision is very situation-dependent, and that things like budgeting would play a big role in deciding whether to sell the firm or keep it as a potential investment for a family. Lastly, I would recommend that something like this be held onto for as long as possible-- it seems pretty valuable!
Hi Melanie,
ReplyDeleteI agree with you in the fact that your exit strategy really depends on how the business is doing at that moment. If it is doing well you will continue to work hard, grow the business, and make it long term for your kids (to pass down). and if it is not going well sell it, thats exactly what I had said in my exit strategy as well because it makes the most sense! Its all dependent on how well your business is doing. I agree with you also in that budgeting will always be an opportunity! Your idea is great so I have a feeling it would be profitable! Great post and logical thinking...they do say "great minds think alike!"
Cheers,
Margaret
Hi Melanie,
ReplyDeleteI agree that it all depends on how business is doing, it might not even be the product but stability or growth of the economy can determine your decision to stay in or out. Budgeting is definitely key in business and with your mindset I can see this being passed down to your children.Good job!
Hey Melanie,
ReplyDeleteI like that you suggested that it is not worth it to even go through a venture if you were not going to put your all into it. It would be nice to start a business that could be passed down in your family long into the future. I agree that it would be difficult to do so if your venture was not profitable. I guess you really would not want to hand down a business that was not thriving. It was hard for me to think of what I was going to do for my exit strategy, because it feels like I just started.
Hey Melanie,
ReplyDeleteI agree with your suggestion that it's worth it to sell your business if it's not a successful one. Without growth or stability, these business ideas can't function for very long. In my exit strategy, I also decided to run the business for however long I could or until I decided to pass it down to someone in the family. I believe this is the best option because the family member will hopefully keep the same goals and morals the business started with. Great job!
Hey Melanie,
ReplyDeleteYour exit strategy and mine were similar in the sense that it all depends on how the business is going and the circumstances at the time. Right now I have an idea of what I want to do, but that all could change in the future. I like how you have the mindset of finishing what you started. If something took time and effort (such as out first business venture) it makes sense that you would want to see that through to the end. Good luck!
Hi Melanie, thats a solid exit strategy you have there. Thats what Mark Cuban did kinda, he sold his internet business before it went bust and thats how he became a millionaire. I agree that its nice to hand over the business to your kids if its successful. That way they are set for life and its part of a legacy.
ReplyDelete