2. I have chosen this strategy for a couple different reasons. First, this is not an exciting business, I think I would get bored fairly quickly. Also there isn't much room for expansion. I would just let someone else take it over and do with it what they pleased.
3. My exit strategy may have dimmed my initial enthusiasm for the business - if I know I won't be interested in five years, it's hard to put 100% of my effort into it. I don't think it would influence what resources I choose or anything like that though.
Hey Taylor,
ReplyDeleteIt sounds like you should start thinking about this exit strategy sooner rather than later. It is good that you have realized you will easily get bored with this venture so it will probably not be fulfilling or profitable for you to continue investing your time heavily. I hope that you can find a venture that you are passionate about like the one I have found for myself. Check out my blog post to see a little about my venture! http://josetheentrepreneur.blogspot.com/2016/04/my-exit-strategy.html
Hey Taylor, Is the business even worth starting if you are not 100% motivated to make it successful and expand it? It will be harder to find buyers if you approach a buy out with that type of mentality. You are the second person I have come across with parking garages as their concept. I think the idea is great but to get funding you'll have to differentiate yourself. Good luck with your business venture.
ReplyDeleteTaylor,
ReplyDeleteThis is a pretty vague exit strategy, as I think everyone's goal in business is to generate enough profits to make the business enticing enough to others to exit. You are definitely along the right line of thinking I just think it would help for you to try to specify exactly what you think you need to do to attain this goal. Good write up nonetheless. You can check out my post here: http://apentrepreneur.blogspot.com/2016/04/my-exit-strategy.html
Alex