I am hoping to keep the venture as a family business and after many decades retire from my position to give it to a child or grandchild. While this will not be my only job, it will be something that I enjoy doing and take part in. I hope that it will remain successful for many years. However, if it happens to take a turn for the worst, I would try my best to salvage it to the best of my ability.
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I am selected this exit strategy because I truly do love sports and want to have something to do that I enjoy. Being able to pass it down in my family will allow me to always have a smart part of it as my own.
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My exit strategy may not have influenced how I came up with the idea but the idea chose my exit strategy. Had I chosen something that I was not as interested in I probably would have sold it within 5 years to make a large return but to be able to do something I enjoy is more important to me.
Hello Leigha,
ReplyDeleteI enjoyed reading about how you want to keep your business to pass down to your family. You seem to have a good plan to ensure you maintain some control of the company. I’m choosing to sell my company to turn a profit if I find I’ll make more from selling it. I believe everyone has a different perspective and their personal choices concerning their businesses are most likely the right ones. Good luck on the last two weeks of class!
You can read about my “Exit Strategy” here.
Hi Leigha!
ReplyDeleteThat's great that you want to pass it down to your family! It's also great that you found a venture that you enjoy. Not only are you passing down a company, but your love of sports as well! You mentioned that if you had a venture you weren't as interested in, you would sell your company. I have a venture that I'm not as interested in, so after about 10 years I would switch to being a majority shareholder. You can check out my post here: http://nicmcq.blogspot.com/2016/04/my-exit-strategy.html