28A: Exit Strategy
1.) The exit strategy, as of now is to sell it. As far as at a certain time, I can not determine right now. Starting this business is an implementation towards my 10 year goal. If i worked at this and expanded into different college markets and create a huge market, I would want to sell it and invest the money I made. This is because I have other plans for after my 30's which doesn't entail furthering this business.
2.) I selected this strategy because personally I want to walk different paths in life. If you keep growing and growing a business, it becomes a very stressful and time consuming life. That is why I plan to create something big, expand it if it is successful and sell it at its peak. This will allow me to walk a different path in life like such as traveling, being more involved in my kids lives, and whatever it may be.
3.) I think the business I created has a lot of opportunity. There are thousands of congested areas that could use this peer-to-peer parking app. This exit strategy doesn't change any of the opportunities or goals it just allows someone who wants to do this to the end of their lives can grasp onto it. They can expand it all across the world if they want. My job would to be to prove it is successful, make some good money out of it, and move on to something else and let someone else grow it to an international project.
Hello Thomas as we wind down these last couple of assignments I am so glad you continue to try your hardest! Your blog looks sharp and clean as ever which is why I always come back to read it. I am excited to hear that you would continue to grow your business and then sell it once it really takes off because I think it is something that would really suite you. I think when doing this assignment I noticed that a lot of people have different approaches and there is some correlation to their personality. I choose the exact same approach so I wonder how similar we really are!
ReplyDeleteHey Thomas, I as well am looking to sell as my ultimate end term goal with the business. I think If I as well work hard at it for the next ten years I could see major profit from selling it off to people I feel comfortable handing it off to. Glad to see your posts still looking clean and good job hitting all the parts of this assignment.
ReplyDeleteThomas, I don't blame you for selling your business at its peak! It probably is the smartest thing to do. Less stress for you and for income. Good deal, right? I like how you want to pursue traveling. That's something that is on my bucket list and on top of my mind everyday! I like how you also mentioned that the next person in charge of the business can expand it internationally. I can trust that you will be successful and open-minded when it comes to owning a business!
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