1. This is a difficult decision to make based on the fact that I haven't started this business. I would have to base it on profit. But, if I had to choose, I would sell it in the next 5 years or so.
2. The reason why I would probably sell it in the next 5 years is because I want to eventually start a family and this business would require me to travel to different college campuses around the United States. I would want to start another business locally. Not sure what yet, but I do want it to be another type of business than what I created for this class. There is a lot of potential with selling plastic alternatives, but I would want to sell another product.
3. My exit strategy has influenced me to think about the future of my business idea. If I'm planning on selling it, I have to make sure it succeeds so the next person will want to invest in it. My exit strategy has also influenced me to expand my product line and potentially target a new segment of people.
Hey Monica, I also thought that this was a difficult decision considering we havent even begun to deal with the major works of operating a business. It can be so difficult to predict how crazy things are in the business world and how we will be able to react to major and minor adjustments. I like how you justified your reason for selling the business and the impact that this decision had on your other developments for the company.
ReplyDeleteDear Monica, you seem like a very rational person. You seem to know what you want in life and are ready to start making life decision based on what is the most important for you. If you want to start a family in the next couple of years, I would agree that your exit strategy is the right one. Sometimes it is hard to manage both a personal and professional life but it is not impossible.
ReplyDeleteI also found this assignment to be a bit difficult based on the fact that we haven't started our physical businesses, and, thus, have no concrete data such as sales to base how long we would want to operate our businesses for. Despite this, your exit strategy seems very realistic and I appreciate that you mentioned that you might want to focus on other ventures. Great post!
ReplyDeleteSelling your business is a tough decision no doubt! However, I think we can all agree that business is not the most important thing in life. Starting a family is a wonderful reason to sell your business, and it doesn't mean that you can't reenter the space later on. I think that a large company with bigger manufacturing capabilities would be happy to buy you out at some point!
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