28A – Your Exit Strategy
1. I intend to stay with my business for several decades and eventually retire. While I could sell the business and generate revenue off of it, it is something I feel passionate about and enjoy spending my time investing in. If possible, I would like to expand the business to multiple locations and continue to improve in various ways. Ultimately, fulfillment will be found in just continuation of the business and possibly passing it down to family members.
2. I have selected this particular exit strategy because again it is something I feel passionate about and would enjoy doing for the rest of my employed life. I would find excitement in continually improving and innovating in the company.
3. I tend to identify opportunities in which would fit my intentions of having this business be under my name and my personal brand permanently. Each new innovation would have to be something that I align with and that fit my goals for the company. Because my main goal was to develop the initial business as my own and keep it that way, I am less concerned about new developments as much as sustainability of what is already in place.
2. I have selected this particular exit strategy because again it is something I feel passionate about and would enjoy doing for the rest of my employed life. I would find excitement in continually improving and innovating in the company.
3. I tend to identify opportunities in which would fit my intentions of having this business be under my name and my personal brand permanently. Each new innovation would have to be something that I align with and that fit my goals for the company. Because my main goal was to develop the initial business as my own and keep it that way, I am less concerned about new developments as much as sustainability of what is already in place.
Taylor,
ReplyDeleteYour exit strategy is very similar to mine. You intend to stay with your business for several decades and eventually retire. This also what I plan to do because I don't want to work all my life and I want to eventually relax. Great idea though passing it down to family members. I should start planning who I'm going to pass my company down too. I think that's smart to keep it in the family so you don't lose the business forever. It's always nice to go back and provide advice to the younger generation. I can tell this is something you're very passionate about and your exit strategy makes a lot of sense.