My Exit Strategy (Week 13)
- I intend to sell my business in the next 5 years, if it is successful enough, for a large profit. Since my business is an app, I would sell the technology side to more successful tech companies (i.e. YouTube sold to Google). However, I would retain a share within the company and a large degree of control on creative matters.
- I selected this particular exit strategy mostly because I would want to move on to something else within my life. If my app is successful enough, it would make sense for me to exit, as I have described above, because more capable tech-teams would code the app to be better and ensure its long-run success. I definitely have professional and personal goals, besides this app, that I would want to be able to fulfill in life.
- I don't think my exit strategy influenced the opportunities that I have been able to see in the business. In the stages of developing, creating, and introducing an app, you have to focus on the present and make sure that things are going well in the present, before you attempt to think about the future. That's why after you've established some level of success, you can plan for the future. How I acquire and use certain resources would all have to be focused on the current track they are in.
Hello Jary Kim,
ReplyDeleteI agree with your exit strategy. It is actually very similar to my own so I understand your desire to establish something successful and then move on. As a first time reader of your blog I have no idea what your app is or how it works. I'd suggest including a brief recap for people like myself who are picking your blog up in the middle with no idea about your previous posts. Here is a link to my blog. I ease into it but I give a full description about what I'm trying to do. The recap will also make your post look longer. Just an idea. Good luck with your app.
http://dcbostwick.blogspot.com/2016/04/my-exit-strategy-week-13.html