28A Your Exit Strategy

Exit Strategy

My exit strategy will be to stay with it for 5 years and then probably sell it off depending on the venture’s success. I feel like there is a certain point I can take the company to and at that point, I won’t be able to do much else. I want to pass it on to a buyer and allow them to spin the venture as they wish. This venture was just the beginning of me finding what opportunity I should truly take on.

Why?

I chose this strategy because this venture allowed me to learn from it. Now, I know how crucial feedback is, what tools to use to find the right opportunity and target audience, and can apply my experience to my next venture. I also want to sell it off because, after 5 years, I don’t know how much more I can do with the venture. I feel like at that point I won’t be able to do much more and just need somebody else to take over. The selling factor is also dependent on how well the company is doing. If it is doing well, I might keep it for a couple of years, but if it is not, I’ll sell it to a buyer.

Strategy Influence

My exit strategy has influenced other decisions I’ve made in my concept by showing how I am shifting my focus on another venture and closing the chapter to my first venture. Like I mentioned before, it allows me to know how to identify a proper opportunity and audience to market and sell my product/service through the tools I have learned. As well as, helping me know what people to connect with to build my company and where to look for investors. This exit strategy helps me to grow as an individual and apply my previous experience to the new venture.