2. I chose this exit strategy because in that amount of time I will have graduated from college and would hopefully be pursuing a career in business/data analysis and perhaps investment banking. Moreover, after graduating and leaving Gainesville, I wouldn't be near my target market and my ability to assess their growing and changing needs would be very limited and I would no longer have a personal stake in my venture concept. Therefore, by selling my business I would be able to put all of my focus into my career and leave my venture to people who could better satisfy the needs of my former customers.
3. My exit strategy has influenced some of my decisions I've made in my concept because I knew, going in, that my venture would not be a long-term pursuit. Therefore, I limited the opportunity I identified to just UF students. This is because expanding my market to include students at other schools would require lots more resources, such as employees to write material for courses at the other universities my venture would serve. Therefore, if I had planned to stay with this business for decades before retiring or passing it down to my children, I would have identified a much larger, broader opportunity and hoped to acquire the necessary resources to be able to successfully grow my business to that level and accommodate the demands of such a scale.
Hey Hayley, I really like how you explained why you would want to sell your venture concept in the next 5 years. I also plan on selling my concept because I plan on going into the real estate industry, rather than my venture concept's industry. I believe selling it the best way to enter the market and exit it with a lot of money and be well set for future years to come. Check out mine here:http://andrewdales.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHayley you have really expressed a plan of action in this post. It sounds like you have a career plan and this venture is a stepping stone for you. Great job and you can check out my exit strategy at http://jackiepanetta.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Hayley,
ReplyDeleteyour post completely resonated with me. Although my concept wasn't a local opportunity like yours, I too knew that my venture wouldn't be a "long time pursuit." It seems this may be due to the fact that the business was centered around a solution to a problem that was only temporary for us.