1) The exit strategy I wish to make would hopefully be to sell my business in the next 5-10 years for a large return.
2) I've selected this exit because I personally would like to retire with a grand sum of money and not have to work after those years. Also, I don't find it necessary to extend my line onto my family for them to run.
3) It has influenced my growth intentions because I plan to retire with a good amount of money to feel comfortable for retirement and not have to stress about money.
Just some advice would be to make a decision about what to do with your business is to do something that is right in the sense that it has the overall outcome of benefit. I am going to assume that you are around the age range of 19-22 and therefore if you were to sell your company in 5-10 years for a lot of money you could be around 28-32 which is still about 30-40 years before the average age of retirement in america today so maybe do something that is a little more practical. Money won't give you everything you want. When you get the chance check out my post: http://theentrepreneuriaou.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteWow, this is an interesting idea! Retiring ten years from now sounds like it would be potentially fun if you were rich enough, but unless your company is the next Microsoft or Facebook you're probably better off getting another job or starting another company after. Plus, what would you do with all your free time? I plan on selling my business too though. Seems like that's what everybody is thinking. Feel free to check out my blog post if you'd like: (http://taylorjnoe.blogspot.com/2016/04/my-exit-strategy.html)
ReplyDeleteHi Nhama,
ReplyDeleteAfter reading your exit strategy post I find it very interesting. A few of your ideas stick out to me. First, you would want to sell your idea for a "grand sum of money" when if you stuck it out for the years remaining in your life, the amount of money could grow exponentially (assuming your business venture is a successful idea). Also, the fact that you wouldn't even consider selling or passing on the practice to your family is shocking. Young minds are the future of innovation so by skipping your possible children/relatives you are effectively denying your business the opportunity to grow with the values and concepts you initially put into place. As for similarities between our blogs, there are none. My values are vastly different than yours.
If you have a chance, check out my blog post here:http://plantflourishgrow.blogspot.com/2016/04/my-exit-strategy.html