1) Identify the exit strategy you plan to make. Do you
intend to sell your business in the next 5 years for a large return? Do you
intend to stay with the business for several decades and retire? Do you intend
to protect the venture as a family business, and pass it down to your children?
I do not intend to sell my company in the next five years
for a large return for the fact that my company will mostly likely be corrupted
to suit profit instead, of truth. For that reason, I will be with my company
until I die because retirement is really just a fast track to death. A family
business would mean nepotism and, by no means, will my company be anything but
a meritocracy. If my children do come into possession of my company, it will be
through their sweat and tears and not through their name.
2) Why have you selected this particular exit strategy?
I have selected this particular exit strategy because too
many times have I seen companies shift from their original purpose once the
owner has left. A good example of this is Dell because the company has done
poorly on the open market outside of its founder’s control. Turnaround occurred
when the founder took control of his company once more. Meritocracy is the most
efficient form of promotion since nepotism will automatically deny more worthy
successors. It also pushes one’s progeny to be better than their progenitor or
create their own venture.
3) How do you think your exit strategy has influenced the
other decisions you've made in your concept? For instance, has it influenced
how you have identified an opportunity? Has it influenced your growth
intentions or how you plan to acquire and use resources?
My exit strategy has influenced the other decisions made in
the concept since it is all a long-term plan avoiding an immediate payout. The
opportunity was found because of how glaring it is and how we will fix it is
through long-term development of our idea into a company. Growth and resource acquisition
are both concerns that have been pushed to the way-side since we have all the
time in the world to deal with them as opposed to first getting our company off
the ground and offering a solution to the problem we see.
2 comments:
Michael, you have put a lot of thought into your exit strategy and made a well constructed post. Most people don't put in as much effort into a post, and I can appreciate that you did. I didn't understand some of what you meant in your exit strategy, but for the rest of it, it seemed extremely well thought out and fool-proof. Keep up the good work on your blog, check out my exit strategy at http://kingkion.blogspot.com/2016/04/my-exit-strategy.html
Michael,
You are the only blog that I have read that says they want to keep their company. I think it is very interesting that you said "retirement is the fast track to death." I have never really thought of that but that statement does make some sense. If you would like to check out my blog feel free! http://dillondunn.blogspot.com/2016/04/my-exit-strategy-dillon-dunn.html
Post a Comment