I believe the exit strategy would truly depend on the success of my business. If it doesn’t do too well then it would probably be best for me to cut my losses and divest. Selling the business will probably be the most profitable move for me at that point. But if business grows successful and sustains a substantial customer base, I would want to stay with the business until I retire.
As aforementioned, it truly depends. But ideally, I would want to stay with the business until I retire. I truly believe in the mission of my business and if it has the ability to impact individuals, especially marginalized groups, my career in this venture would be very rewarding.
The decisions I’ve made in the past with this venture have definitely influenced my exit strategy. The goal of this business is to empower a marginalized group of individuals, it’s not something I would want to give up easily especially if it has the ability to make an impact. I wanted to create a business that resonates with me and my past experiences. Learning about self-defense techniques and crisis management has changed my life, and I believe it has the potential to change the lives of many others too.
Hi Roksolana, I definitely share this same viewpoint in that the amount of success of the business would ultimately dictate my exit strategy. I feel this is the strategy that makes the most sense, as cutting losses quickly would only be natural should the business be underperforming, but should it be exceeding expectations I probably not want to sell. Personally, for the right deal I might be able to be persuaded but I could not really have a firm decision under a hypothetical scenario unless I had specific details. Good post!
ReplyDeleteHi Roksolana! I think it’s great that this business is something you feel passionate about. Personally, I don’t feel an attachment to my business because it is not something I feel very passionate about, and I think that is part of the reason why I am not interested in working with it in the long-term. It has definitely impacted how I worked on this business and I am interested to see how I would do working on a business I am passionate about.
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