1. For this opportunity, I would plan on selling it about 10 years down the road once I was able to run my course with it and build up a fund to carry me into the next phase of my life. I'm not totally sure what I want to do with my life yet, but I'm not ready to spend to doing the same thing until I retire.
2. I chose this exit strategy because I love making investments. This opportunity is an investment for me, and at the end of it, I will be looking for a return to take with me into my next investment. I also don't like being stuck in the same place for too long and I think by the end of the 10 years or so, I would be ready for my next opportunity.
3. My exit strategy has influenced how I set my opportunity up. Within 5 years from now, I want to be in the supervisor/ quality control position, while I have execs below me running the overall business. I set it up this way, so when I do decide to move on in about 10 years, I have people capable and willing to take over the company and will be able to bring in more success and pay me what I'm looking for.
Hey Caelan,
ReplyDeleteI enjoyed reading your post about your exit strategy and what you hope to get out of this business venture. Just like you, I plan on selling my business because I am someone who always needs to be working on something new, so I plan on selling my business venture and then starting on a new project for a new demographic of people. You did a great job highlighting key points and establishing your point with what you want to do with your plans. It seems like you had a lot of influence through these assignments and throughout the class. Overall, very informative and great post.
Caelan,
ReplyDeleteGreat job with your exit strategy. I like that you define a timeframe, and the conditions that need to be met for you to exit the company. I also like that you define the steps and times for the transition. I think you put together a pretty solid plan that makes sense and is well-justified. My only recommendation would be to add provisions for contingencies: what would happen if the company never takes off, or on the contrary, takes off faster than what you expect? I really enjoyed reading your post, pretty solid reasoning and clearly articulated.
Caelan,
ReplyDeleteI have a similar strategy to sell my product years down the line. I completely agree that spending my whole working life doing the same thing seems rather boring, especially if that starts right out of college. I like how you compared this product to an investment rather than a future profession. It allows you to keep an open mind and allow yourself to be experimental in the future.