Assignment 28A – Your Exit Strategy
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?
My current business plan is about helping women overcome inequality; therefore, I would like to stay with my business until my brand can make a big impact in this issue. Moreover, I plan to get enough money or profit from this business to create new business plans that could help others in need.
2) Why have you selected this particular exit strategy?
Because I am really passionate about this particular business idea and social cause. The main goal is to help others with my brand and I do not want to exit this business idea until I succeed. Creating a better environment for others and also advocating for equality is something I know I want to do as a businesswoman.
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 believe this exit strategy has influenced how I decide to grow as a person and a businesswoman. I know I would need a lot of resources in order to stay successful until I achieve my goals. Moreover, because I do not really know until when my business would exist and be helpful, I need to plan ahead of time to find other ways to create profit. I also need to create long-term relationships with suppliers, consumers, and other companies.
Exit strategies are a big part of a company. You need to know all the details about your company and what you think you can make in the long run. Each company can have great long term success and some need to make what they can make. I need to know what I can make and where I can be successful at in the best position. I think your exit strategy makes great sense for you.
ReplyDeleteHey Jazmin,
ReplyDeleteI think that your concept is all about helping out, my own idea is similar in this instance, but I think it is still important to know how you are going to go about this. You don't specifically state what you see the end of the business being which is what I feel that this assignment is about. It doesn't seem like you plan to sell it, but do you plan to retire with it or have your own family take over after you are done? This are questions that you still may want to consider.
Being passionate about your product is extremely important and will help you throughout your life. When faced with an obstacle your passion will help you push through it.
ReplyDeleteHey Jazmin,
ReplyDeleteI think you made a great point about part of your exit strategy. Using this business to help raise funds to create new business opportunities can definitely open the ability for leverage. That is huge because the more you leverage the faster you can grow and fuel your life. You'll want to have an overall exit strategy to leave everything one day though.
Shalom Jazmin, I really enjoyed reading this post and you did a great job writing it. However, I think it is important to realize that helping women overcome inequality is not a business plan, but just a secondary objective of your business. I understand where you are coming from and I really love what you're doing with your venture. I see a bright future for you Jazmin!
ReplyDelete