Your Exit Strategy
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?
I created my business with the intent to sell it to a bigger company. Since my business is a ride sharing service, I intended to grow it until a bigger company like Uber or Lyft would notice it and be interested in purchasing it. Though the companies are my main competitors, I feel that my business is relatively unique enough that they would either copy my plan or purchase it.
2) Why have you selected this particular exit strategy?
Though I can see my venture lasting for a while, it is not really about someone that I am passionate about. Also I don't really see myself as being the forefront of a company. I would only pursue this venture in order to acquire money to pursue other ventures that would interest me more.
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 did not influence that much in my decisions for my venture concept. Since, my business plan mostly talks about starting the business and growing it, my exit strategy does not affect it.
I created my business with the intent to sell it to a bigger company. Since my business is a ride sharing service, I intended to grow it until a bigger company like Uber or Lyft would notice it and be interested in purchasing it. Though the companies are my main competitors, I feel that my business is relatively unique enough that they would either copy my plan or purchase it.
2) Why have you selected this particular exit strategy?
Though I can see my venture lasting for a while, it is not really about someone that I am passionate about. Also I don't really see myself as being the forefront of a company. I would only pursue this venture in order to acquire money to pursue other ventures that would interest me more.
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 did not influence that much in my decisions for my venture concept. Since, my business plan mostly talks about starting the business and growing it, my exit strategy does not affect it.
Oh smart, I never considered selling to uber since I was doing a ride sharing service as well. Mine would be more for nanny.com though. In my area we don’t have their services, or if it is it’s not widely used. So if I started it up and it was successful I could see selling it. I posted on Bailey’s I think it’s hard to think of all the details when it’s not really something we are going to do. But it’s been interesting to read everyone’s ideas.
ReplyDeleteHey Czar, I think this is definitely the best plan for your business. I also want to sell my venture relatively quickly, so I get where you're coming from. Selling to uber would be a smart move. I would suggest that you make sure you have some good legal leverage on your side before you begin negotiations with a company like that though, because although your concept is unique, I'm not sure it's so unique that uber wouldn't just be able to just develop their own scooter squad.
ReplyDeleteI agree with you exit strategy because people today want to keep going for ever and since huge companies with high tech can easily steal your idea and patent it an their own way..... You chose wisely. How much would you sell it for? Would you sell the entire tech? Its an interesting busines concept, and what other ventures would you pursue in the future?
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