28A – Your Exit Strategy

  1. 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. 
  2. 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. 
  3. 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. 

Comments

  1. UnknownDecember 3, 2018 at 8:05 PM

    Hey Nathalie,
    I 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.

    ReplyDelete

Post a Comment

Popular posts from this blog

22A – Elevator Pitch No. 3

1.  Link to my video  In my last pitch, I was told that my pitch was good and easy to understand. The only thing that I really needed to fix was the length. It was a tad bit too long last time. The one feedback I got that surprised me as that one peer stated that he could tell I had viewed other pitches i order to make mines good. I took the feedback I got and deleted some parts that I was told could be left out. Specifically, some parts from my opening and the statistic I had included. Since this is only my second pitch, I don’t have it completely memorized just yet. However, I am more comfortable in front of the camera. 
Read more

18A – Create a Customer Avatar

Image
My product can be sold to both businesses and individuals, however, its more likely that only businesses will purchase this. Therefore, I have described a business entity as my avatar.  The year is 2017 and the board of directors for Florida State University (FSU) has been under heavy heat from parents, the media, and donors due to increased hazing incidents on their campus. This university lacks diversity and campus life is controlled by Greek life. Their Greek life has been highlighted due to increased injuries and ‘accidents’ that occurred because of binge-drinking and hazing incidents. Furthermore, the university has strict rules against hazing and especially with alcohol. However, it happens either way. Their campus is filled with some infographics in black, gold, white, and garnet detailing the hazards of binge-drinking. This university already struggles to maintain a high reputation and these incidents have only added more heat to the fire. They need to fix their reputat...
Read more

21A – Reading Reflection No. 2

I chose to read the book,  The Art of Social Media: Power Tips for Power Users.  I believe that the authors of this book emphasize the importance and effect that social media can have on your brand/company. They give tips on how to create powerful social media pages on all platforms. Their put much focus on explaining how social media is a tool that can benefit entrepreneurs immensely if used right. The also explain that social media can just businesses if not used correctly. Social media is an important if not one of the main areas that can build or destroy a brand/company. In ENT 3003 we practice being entrepreneurs by thinking creatively and identifying innovative solutions. Throughout this class we have done assignments that has helped students understand who our customers are and how we can shape our product to our target market. This book sends a similar message in that it teaches readers how to market themselves and/or company on social media. What companies post o...
Read more