In the next five years once my business venture has been established, I plan to sell it to a large company for a profit. I don't see myself owning this company longer than 7-10 years because after a certain point it would be better to sell it off to a large company that has more resources and time to commit to the expansion of the product. At a certain point, I don't think I will want to work on this business anymore and would rather start something new as I like change and innovation rather than working on just one project for a long period of time. While I am passionate about this project right now, I am not sure that passion could take this project further after 5-10 years. I think this exit strategy has influenced my decisions thus far because I have really only focused on short term goals rather than any long term goals and developments for this product. Although, I am open to any path that this business venture would take me on, I don't foresee myself staying solely committed to just this one project in the long term. Having other interests and career plans has lead me to develop this business proposal in a more relative manner and have more realistic short term goals throughout this course.
Hello Andrea!
ReplyDeleteI love your post. It is very thorough and thought out. Your plan is very detailed and I completely agree. I chose the same exit strategy because I really want to be able to experience other oppportunities within the world of entrepreneurship. I think you strategy makes a lot of sense and completely support it. Keep up the great work.