ENT3003 Assignment 28A – Your Exit Strategy

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?

• Ideally, I would like to grow my company to a multi-million valuation and then sell it. I would foresee this occurring in somewhere between 2-5 years as the product will almost surely takeoff due to consumer demand or it will fail off the jump. 

2) Why have you selected this particular exit strategy?

• I'm not too invested in being an entrepreneur for my entire life due to the time constraints and work it takes. I hope to make a good living and then enjoy my life with family and retire young. If my business is successful enough that it can be sold in a multi-million deal then I would be very pleased to enjoy my time building the business and then enjoying my time with the money from selling it. 

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?

• I believe some decisions I've made were made with the intention of selling my business because I've focused on making a useful product that can take off quickly and change the game. However, I did this knowing that there are a lot of companies currently dominating the market that would be very likely to buyout my product and make it their own. Similarly, it has made my ability to use resources a little adapted because a lot of the market works through economies of scale, which forces me to use resources potentially premium and becoming a premium brand or cheaper and focusing on the features.