1) Identify the exit strategy you plan to make.
I intend to exit the market within the next five years for a large return. I started a company that manufactures and sells lifeguarding drones. These drones would have a deployable flotation device to release to the victim as well as accessories such as cameras for improved vision for locating the victim, a gps tracker to help locate the drone if it sinks during a mission, and speakers for relaying information to the victims. I believe the market for drones will increase in the next decade which is why I plan to exit the market in the next 5 years for a large return.
2) Why have you selected this particular exit strategy?
I selected to exit the market after turning a profit because I do not plan to make a career out of manufacturing and selling lifeguarding drones. I think I can turn a profit on this venture because I believe the use of drones will increase as technology continues to improve.
I selected to exit the market after turning a profit because I do not plan to make a career out of manufacturing and selling lifeguarding drones. I think I can turn a profit on this venture because I believe the use of drones will increase as technology continues to improve.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
My exit strategy does not change my venture or short-term or long-term goals much. Regardless if I was planning on exiting the market or not, I would still like to return the most on my investment. So I would like to focus not only on the short term vision of my venture but also what I envision handing on to the next young entrepreneur.
My exit strategy does not change my venture or short-term or long-term goals much. Regardless if I was planning on exiting the market or not, I would still like to return the most on my investment. So I would like to focus not only on the short term vision of my venture but also what I envision handing on to the next young entrepreneur.
I really like your business concept of lifesaving drones for victims in the water. I never heard of such a thing until now. I can understand that after 5 years you will decide to move on from this business and possibly pass it down to another entrepreneur. 5 years is an investment, and hopefully by then your business will be successful. I also hope to move on fro my business after 5 years, I believe, using the finances I saved and invested in for other purposes. Here's my link: http://entintheair.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Greg,
ReplyDeleteI thought your post was very well organized, and I really enjoyed reading it. I like your idea, and I do think selling it is the right move. I mean, you never know what will come out in the future and affect your brand. I would like to sell mine as well. I prefer to maybe retire or work in a different field. When you get a chance, take a look at my post. Here is the link:
https://principlesofentrepreneurship.wordpress.com/2016/04/06/my-exit-strategy/
Thanks and good luck in the class!
I like your idea of seeing your venture as an investment rather than a job. Your venture is your creation, and it is your asset. It can be turned into a profit, it is not just a job habitat.
ReplyDeletehttp://eny3003ablec.blogspot.com/2016/04/my-exit-strategy.html