1. I believe that I will probably sell my business especially if someone offered me a lot of money for it. This was a pretty basic idea that I came up with and if someone thinks its worth a lot of money I would probably sell it and create a new business with that money. This app would only give me a small amount of revenue through ads in gainesville, so if someone offered a large amount of money I would probably take it right away. This is not a company I would just keep for several decades and retire. I think it's more or so of a stepping stone to my next business idea. If I create a new and more successful business after this i'll probably end up passing that down to my children.
2. I selected this particular exit strategy because in my opinion this is a simple app that I came up. I can always create and develop new apps that could potentially blow up especially if I have a lot of money to blow on the creation of this said app. I just personally believe that this is a stepping stone, as I said above. I think that I can create better apps with the money I receive from this app.
3. I think my exit strategy has influenced the other decisions I've made in my concept in a few ways. I think that it showed me that I am probably not going to take this long term. I think that coming up with this app and realizing the exit strategy definitely showed me what I think that I want to do with this app. I think it would be amazing to sell this app and have a lot of money to use to create a new business and I believe that that is what I am going to do with this business.
Hopefully this will be me soon
I feel like everyone number one chose is to sale their business to a local big name firm, company or franchise just because you all still reap the finical rewards of the business without having to handle all the work aspects of your business. Naturally this comes after a number of years, but I like the approach you chose to take with leaving your business in someone else's hands. Here's my post you should enjoy it http://skylar219.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteI feel for a business like the one you have now it would be good to sell about 90% of your business. If you sell 90% you would still get a large amount of money and you would still get 10% of the profits as a constant source of money. You don't want to completely sell your first business do you? If you would like to check out my blog feel free! http://dillondunn.blogspot.com/2016/04/my-exit-strategy-dillon-dunn.html
ReplyDeleteHey Jason,
ReplyDeleteI think that the most common exit strategy is to sell off their business, and it's probably not wrong. Many businesses fail because they get stuck in their old ways and cannot develop (perhaps bounded by the same mind that created it) and rather than get a new perspective, they stick it out until the end. Selling off to someone new is a good idea so that the business can grow and you can make a final amount of money out of it. http://loganbrownuf.blogspot.com/2016/04/my-exit-strategy.html