1 & 2) I am not yet sure exactly what my exit strategy will be, however, at the moment I believe I would want to keep it as a family business and pass it down to my children someday in the future once they come of age and learn the ropes if this becomes something of interest for them. I like to work and would want to work doing this for as long as I can in order to build a good reputation for the business and hopefully have a well-known name by the time I decide to retire and let my children take over as if it were their own. That is the reason why I would most likely select this particular exit strategy over any other at the moment.
3) I think that my exit strategy has influenced the other decisions I've made in my concept considering since the start I always knew how much this idea meant to me considering, in a sense, it would be following my family's footsteps in the healthcare industry. My personal experience in the field had helped me identify this opportunity and thus also helped me acquire the resources I mentioned in a previous post.
Hi Nathan,
ReplyDeleteI agree with you in that my exit strategy was also to keep the business in my family. I know my family will keep the same culture and values that I first instilled in it which is very important to me. The foundation of my company was also built on my families values and it is important to keep that if it becomes successful. Although I may not work for this company until I die, I would like to be able to check in on it and having family running the company would be beneficial.
Sarah
Hi,
ReplyDeleteI really liked your exit interview strategy. I was also very similar to you because I wasn't exactly sure what I wanted to with my venture in the end. I think it is so smart to spread it back to your family because you are allowing them to control something that you loved so much with the people you love the most.
Amanda Gonzalez