Thursday, April 16, 2020
28A – Your Exit Strategy
For my venture my exit strategy would be to sell my business in the short run to make a large sum of money. If I were to plan this out correctly, I would only have my venture/product as a side project. Therefore I would see it as a way to make some extra money. I do not think I have room to grow and change my product once I have it on the market. This also contributes to me wanting to sell my product to a later business. I have selected this strategy because I want to keep this as a side project. If it is successful I would not want to stick around and try to make it grow when I could sell it and get money. This money would be used to invest in future products and developments when I am more experienced businessman. This did not influence my opportunity at all, I had come up with the opportunity before I thought of how I wanted to end it.
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Hey Ashton!
ReplyDeleteIt's important to have multiple sources of income, I think the situation were in now really exemplifies that putting all your eggs in one basket isn't best. So I think you're idea of making your venture like a side business is smart! That's great that you would use the money to fund other developments!