Identifying My Exit Strategy:
I want to stay with the business for as long as I possibly can. I feel that it is my responsibility to ensure that it grows the way it needs to and fosters a positive relationship with the consumers. Once a good foundation is built for my business, I would like to pass it on to my children. I am starting my business to ensure financial stability for both myself and my family. The business will be my legacy that I leave to them.
Why I Chose This Strategy:
I chose this strategy because my main purpose for having a business is to be financially stable and have something to pass on to my family that they will also be financially stable Once I feel that they are ready to take over, I will give the business to them and watch to see how much farther they can take it. As they do this, I believe I will start exploring hobbies such as traveling.
How Do I Think My Exit Strategy Has Influenced The Other Decisions I've Made In My Concept?
My exit strategy has affected other decisions I've made in my concept by causing me search for the most practical opportunity that I can find. In order to financially support myself and my family, I had to find something that I knew that people needed. I want my business to grow as large as it can possibly become. This way I will feel as I really accomplished something with my business.
Hi Brachari, I understand your motive for choosing the exit strategy of passing on your business venture to your family/kids someday. I chose the same strategy. The objective, make a living and provide, sustain the business so that it can continue to sustain our families in the future. It's this innate need to provide and take care of our offspring. Kind of cool I think. Great job with your work on this project! Take care!
ReplyDeleteHey Brachari, I understand your thought process of passing on your business to your family/ children andI think that is such an awesome idea. I'm the say way, but I would be scared to leave it for them and they don't want to take it over and now I'm back to square one where I would rather have a percentage of the company then give them that.
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