1) My Predetermined Exit Strategy: As I said in a previous post, once I work out the kinks, the app will be able to run itself with very little administrative overview. I would like this app to be one of my many sources of income. Of course, most things have a price. If someone was to offer a hefty amount for the app, I would sell. Unless that happens, I wouldn't say that I see exiting this industry anytime soon.
2) Why did I select this business strategy? I selected this exit strategy because as I said above, I would like this business venture to be one of my many sources of income. I was once told that if your money doesn't work for you the chances of becoming a millionaire are slim. This piece of advice has shaped a goal to make my money work for me so I can focus on other business endeavors.
3) Influence of the Exit Strategy: I wouldn't say my exit strategy has influenced any decisions in my venture conception. All my decisions for my venture conception were made before my exit strategy was developed. Maybe this isn't a good thing though. Now that I am writing this makes me think I should have incorporated a potential exit strategy in my business plan. Either way, the main factor that will influence my exit strategy will be my desired price of the app. If I do not receive an offer of what I think the app is worth, I will continue to use it as a source of income.
Hey Cayman
ReplyDeleteYour exit strategy post was, per usual with your posts, all around incredibly strong and well informed. Again, per the standards of your other work, you were highly descriptive with what you put and presented truly insightful opinions about the direction you wish for your opportunity to take in an administrative capacity. Reading this gave me an even clearer idea of how you wish to see your plan through. Really great work!
This seemed like a very thourough and deliberate exit strategy its good that you are deciding to stick by your company and make it into a more assive source of income that is smart and perfect for the type of business you are wanting to develop I'm glad youve considered that and have been given that advice as it will greatly impact your success in the future.
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