1)Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
My exit strategy is to sell my business concept and I will sell the idea to all the states to raise the age to 21.
2) Why have you selected this particular exit strategy?
The reason for selling the business once all states adopt the age of smoking tobacco to 21 is because this means that the business was successful and there is no need for to continue the business.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
My exit strategy has influenced other decision by preparing for all states to raise the age to 21 and once that happened I would be able to be successful. My exit strategy represent growth in my business it because I’m selling it once all states have adopted it.
Hi again Carly! I think your idea to sell your business is a good one. There is no need for your business once it has been implemented, as you have already explained above, so, leaving is the reasonable next step for you. It’s important to know when to sell and when to stay with your business, as sometimes we get attached to things, like businesses, after putting so much time and effort into them.
ReplyDeleteHey Carly,
ReplyDeleteI agree that it is best to leave your business after all states have adopted the new age of 21. I am not sure if you would be able to sell it for anything because the goal of your business will have already been accomplished. You may have to just dissolve the company at that point unless you implement a new business plan.