To be perfectly honest and straight to the point, my preferred exit strategy is always decided with one goal in mind, financial profit. I plan to exit my business at some point (as i do plan to enjoy my life and retirement), but that point will come when I feel I no longer have to offer anything to the company i created. In shorter terms, when my usefulness into improving and bettering the company comes to an end, I plan to sell it. And for as much money as I can.
The particular reason I have selected this exit strategy is because of the same reason I started this venture, financial gain. Now while some may say I lack passion and all i think about is money, which I understand given how I have phrased my thoughts, it is also important to understand that doing something I like does not necessarily have to be the same thing I do for financial gain. I simply spotted an opportunity which I could grow into a profitable company, simple.
I think that having financial profit as a goal in my head from the very beginning has been very influential in how I make decisions in the company and how I spot opportunities. Since profitability is a key point, spotting opportunities that are worth chasing has led me to careful evaluation of every step I take with a company. It also affects me in how much I play to grow this company and my decision to sell it.
Hey Andres,
ReplyDeleteI agree with you are saying. We all may have passion for our venture, but it is the profit we are going to make from it that will let us live. I have the same plan as you do, I believe that it is a good idea to set an exit strategy in the early stages of the venture, but I think that after seeing the results and forecasting the future results of the company, I will be able to decide what exit strategy should be appropriate at the time. Great post!
Take a look at my post and let me know what you think about it. Here is the link:
http://alejandroentrepreneurship.blogspot.com/2016/04/my-exit-strategy.html