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28A – Your Exit Strategy
- I never saw this business venture as a business that I would pass down to my children or keep for decades.My exit strategy for this is to sell my business in 5-10 years to the highest bidder.
- As a young entrepreneur I know I am bound to make mistakes and find greater competitors. Since this would be my first business venture, I intended this to be a great learning experience for myself where I can earn some profit or at least break even and be debt free. This exit strategy would hopefully allow me to recuperate the money I have invested and leave debt free.
- I think knowing that this business venture was never going to last a lifetime helped me make decisions that would benefit me in the present. The opportunities and decisions I would take I did with only a 5-10 year plan in mind.
Hey Nathalie,
ReplyDeleteI too decided that after 5-10 years I would sell my business. We did though, take different approaches regrind the reasoning. I said I would eventually sell it because its not something Im passionate about and feel like any business deserves a leader who loves the product and loves what they do. I like your approach too though, I agree that as young business men and women we have a lot to learn.