1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
2) Why have you selected this particular exit strategy?
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
- I would sell my business in a few years for a large return if the person or company who would buy it was as passionate about the environment as I am and would use the company to make a positive impact. I am not exactly sure in how many years I would like to sell it in but at the soonest 6 years, and at the latest 10 years.
2) Why have you selected this particular exit strategy?
- I have selected to sell my product in a few years as my exit strategy because I think after 6-10 years I would have done everything I can for the company and would like to move on to larger ventures. Selling it would allow someone else to bring new ideas and innovations to the company and allow me to focus on other projects.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
- I do not think my exit strategy had influenced much (if anything) I have made in my concept. I had not started thinking about the exit strategy until recently. I think it is always important to give your all no matter how short or long you will be involved in a project for.
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