My exit strategy is to sell the business in the near future,
most likely within the next 5 years. I do not intend to keep it or pass it to
the family for many reasons. First of all, I do not plan to be living hear much
longer after I graduate, hence, I will not be able to take proper care of the
company. Also, I think that the money that the sale will generate is going to
help me with other things that I have planned. It could be repaying my student loans
or investing it in the stock market or another startup with more potential growth,
profit margins, or near my next place of living.
I think that my exit strategy hasn’t affected my decision
making on the development of the business plan. I have tried to play safe to guarantee
that the company will be around in the next few years, and that it has a solid
growth. But it is something that works for both decisions, whether I keep it or
not. What it has done is to make me focus on learning as much as possible and
fail forward to make me a better entrepreneur.
Hi Enrique,
ReplyDeleteI think that selling your business in the near future is a great idea for your business especially since your business will be focused in Gainesville for college students. I agree with you that by selling your company, it could be a beneficial idea to use that money to start new endeavors that you may have for the future. Your exit strategy will definitely help you improve your entrepreneurial ventures and skills. Great exit strategy!
Hi Enrique,
ReplyDeleteI also think I would sell my business in the future. And it definitely makes sense for you to sell it since you probably wont be living here. I think it’s a good mentality that you have that even though you know you are most likely going to sell it you’re still going to work hard to make it be as successful as possible because if you didn’t work hard and slack off failure is a possibility and then it would be even more difficult for you to sell a failing company to someone else.
I think it is very smart to sell your business especially because you will not be living here anymore to run it as well as you could. I think it would be a good thing to accumulate funds to go towards other things and that you are smart guy who has lots of plans. Plus, after a lot of years you may get tired of doing the same thing over and over.
ReplyDeleteHi Enrique,
ReplyDeleteI like that you chose your exit strategy based on other plans for the future, and not building your life around the company. I also admire how you point out the fact that your current venture is likely to not be as profitable as others in the future. Overall really job on your overall exit strategy.