Your Exit Strategy: Assignment 28

1.)     Your exit strategy is paramount to your entire entrepreneurial endeavor. The U.S. Military works backwards with planning and timing so starting with your exit strategy and working backwards from it can be a great way to help guide your business to its ultimate goal. For me, my exit strategy is to ultimately sell the business for a large profit. I've read Peter Thiel's Zero to One and in that book, he explains that the time to sell your project is when you are completely out of ideas to innovate. For me, that is my goal as well.

2.)    I believe that getting all of my ideas and innovation into my business is a great way for me to leave the project feeling complete. I can say I put every ounce of what I have into it. If I sell to early, I'll be wanting to put a bigger footprint into it. If I sell too late, I'll be wondering why I didn't sell it earlier. I feel when I am fully out of ideas, that is the time to pass the torch.

3.)    Knowing that in the end that I will be selling the company hasn't really changed the way I think about it. I always know in the back of my head that there will be other projects ahead. When it comes to resources, I know that I can put my all into this project since I know it will be profitable when I exit. Of course, in the meantime, adding growth to the project will help teach me new things to apply to future projects as well as grow the value of the company. 

Comments

  1. Morgan MoweryAugust 3, 2020 at 10:03 AM

    Hey Chaplin,

    Great job with this post! I really really enjoyed reading your ideas and your exit strategy. It looks like you have focused in on a few of great really great ideas for your company's future. I like that you plan on selling your company in the future, and I think your reasoning behind that decision is brilliant and smart on your part. Thank you so much for sharing, I think your business has some really awesome ideas for its future.
    -Morgan Mowery

    ReplyDelete
  2. Jackson GoreAugust 3, 2020 at 11:37 AM

    Hi Chaplin,
    It looks like you put a lot of thought into your company's exit strategy. It is highly commendable that you are committed to putting everything into this project. Putting all of your creative energy into this business venture is a surefire way to know "what could have been" with this and I doubt you would have any regrets. Great work!

    ReplyDelete

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