For my exit strategy for this venture, I plan on possibly staying with the company until I retire. I would most likely then pass this business down to family or friends, whichever is more interested in owning the company and who I believe to be the best match.
I have selected this exit strategy for the purpose of not trying to overwhelm myself in the future by moving in and out of various companies. It makes more sense for me to stick with something I am more familiar with, and have more of an attachment to, than to jump into something else.
The only way my exit strategy has affected my venture is in how I would acquire resources. Because I don't plan on leaving this venture any time soon, I feel less rushed to seek the resources I need to make it become reality. This is also because I understand how long it takes to get something like this up and running, and my exit strategy allows me to keep an eye on the company throughout its growth.
Cheyenne,
ReplyDeleteFirst off I would like to say you are the first person I have reviewed that would consider staying with their company until retirement, which is the route I plan on taking. Couldn't agree more that why " overwhelm" yourself with different jobs when you can continue doing something that you will enjoy and not regret in the future. By knowing you are going to stay with the company for awhile it does change that idea of going from a hurry mode to a more pace type system where you know you have time to gain resources and not have to rush to build your company right away.If you ever have time please take a look at my blog:http://pljordan1994.blogspot.com/2016/04/my-exit-strategy.html
Cheyenne,
ReplyDeleteI admire your commitment to your business venture until retirement. I feel that your track is slow and steady, but I think that what the right idea the gradual increase for decade is valid. You giving your company to your next generation is a kind thing to bestow upon them. Check me out: http://vincentdimenna.blogspot.com/2016/04/my-exit-strategy.html
Hi Cheyenne,
ReplyDeleteAlthough we have completely opposite preferences as to what to do with our future ventures, I can definitely see your reasoning for wanting to stick with your venture until you retire. Should your venture become successful, it would be really hard to give up the stability of maintaining control over it, not to mention all the hard work and effort you might feel like you would be giving up if you. It would be cool to leave your family/friends with a successful legacy.
Thanks for sharing! Here is a link to my own blog:
http://ablog4c.blogspot.com/2016/04/my-exit-strategy.html