I intend to let this business grow as long as possible and hold on to it as long as I enjoy working on it. I think it will be important to keep up with trends to keep the business alive and I will be focused on that fully with little time to think about selling. For me, entrepreneurship and starting a business is more about enjoying the process, working with people you like, having an awesome team, having a relatively flexible schedule, and not about selling for money...although money as an outcome of the business is a top goal.
I have selected the exit strategy of going with the business until I lose interest or get excited about a new venture because I'm focused on living a happy life and I believe following where my heart is at in terms of what I'm working on is the best way to do this.
I think this exit strategy influences all of the decisions I make in the venture because I know this is something I want to grow and work on for a very long time and I would be dedicated to overcoming challenges the business faces. This has influenced my overall goals for the business and is why I look to expand the business to other markets and ideas to diversify the business so it can continue to grow.
Hey Ben,
ReplyDeleteNice strategy to keep the ownership of your venture to yourself until you get ready to move on. It's very useful to not get too attached to your project in case you become passionate for another project as you said.
Ben,
ReplyDeleteI agree with Esteban. I also think it is a really good strategy to keep the ownership of your venture until you get yourself ready to move on. I wrote a similar response in my exit strategy. It is always good to continue to keep your mind open for all opportunities because you'll never know what could be a need in the future.
I am going to gave to agree with Billy in the sense that it is extremely important to have in a plan in place in the event that your goals or plans in life change down the road. Lets just say you wanted to go to graduate school and pursue further education, then selling this idea of yours could prove beneficial, however you should stay in it as long as you are willing and motivated.
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