My Exit Strategy
1) Identify the exit strategy you plan to make.
I intend on protecting the venture as a family business, and plan to pass it down to my children in the future.
2) Why have you selected this particular exit strategy?
This venture is not just a money making business to me, it is something I have a passion for and find joy in seeing customers happy with their products and their life. As the company grows and I learn more about left handedness and other ways to provide comfort, I’d like my children to take over and become passionate about this as I am. I’d treat this business as a learning experience for my children. This family business will stay around as long as there are still lefties in this world.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
This exit strategy influences both how I have identified an opportunity and the intentions of the growth within the company
Hi Nicole! I found your exit strategy so interesting because you actually don’t want to exit! Most people’s blogs have said they would sell out but you are one of the few that would like to keep your business as a family legacy. It also really telling how passionate you are that the business isn’t about making money in your eyes, it is about making people’s lives better!
ReplyDeleteHi Nicole,
ReplyDeleteYour exit strategy is very much similar to mine. It is not that we want to exit the business, rather we will be too old one day and our children can gladly keep the business running. My exit strategy also influenced the opportunity I had and the growth of the opportunity. I think our exits are very similar and a very good idea.
Hi Nicole,
ReplyDeleteI like that you want to keep this in the family. It shows your passion and how you want to keep it for years to come. I really enjoy family businesses. I feel like they have a very comforting brand. I think teaching your future kids about business is great too because they can help grow the business.
Hi Nicole,
ReplyDeleteHi Nicole,
Whether or not to keep it within the family was something I struggled with because I wanted to make sure I was not just limiting the talent that I could bring to my company. It is true though that it would be a great learning and bonding experience for you and your children. However I did also decide to keep the business running for a while rather than selling it in 5 years. I enjoyed reading this, great post!