28A- Your Exit Strategy

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1. After a few successful years with my company, I plan to sell it for a high profit.

2. I selected this strategy because I am interested in getting into other industries. If I continue to run this business it will take time and money away from what I want to do. I believe my idea has great potential for long term success but I would rather sell it to someone who is more experienced and passionate about serving the retail industry. I thought about making it into a family business but selling self-scanners isn't the type of business I would want to pass down.

3. My exit strategy did influence some of the decisions I made in my concept. For example, I came up with the idea of adding a robotic arm to the self-scanner. This was supposed to make my product stand out immediately against competitors. Retailers would then want to buy my product because it would be the latest development in the industry. My reasoning behind this idea was that it would put my product on the map and drastically increase revenue in the short-run. I could then sell the company for a high profit like I always wanted.

Comments

  1. Colette FinnApril 19, 2020 at 4:40 PM

    Hi Felipe,
    It seems like we have very similar exit strategies, as I also plan to sell for a high profit and my decisions are influenced by making a profit and being successful quickly. I think it's good that you realize you may not have as much expertise and passion as others may have, so eventually selling your company and starting another venture might be the best option.

    ReplyDelete

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