Wednesday, November 28, 2018
Assignment 28- Your Exit Strategy
I've actually had my exit plan in mind this whole semester. If I were to pursue this venture I would 100% sell the app to the highest bidder after a few years of building a following and showing proof of concept. I have this strategy because I would want to move on to bigger and better things and I think my app could fund even more lucrative ventures in the future. This exit strategy has made me more focused on rapid growth as opposed to long term growth. Rapid growth will allow me to sell the company for more money, more quickly.
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Hey Peyton,
ReplyDeleteI totally agree with you on this, I know some people would want to be along for the ride the whole way and pass it on to their children, but I think that the best option is to sell in five years and take the profits to be able to invest them in the next new business venture.
Hey Peyton,
ReplyDeleteMy own exit strategy was the same, if I were to pursue my idea I would sell the app within a few years to the person willing to pay the most. I say this not only because it would allow my to pursue any further ventures I want, but because we also have to account for changes in technology that would render our ideas or apps less effective than they currently are, making them less valuable.
I had the opposite exit strategy but I can totally see where you are coming from. I definitely think selling a company and moving on to creating new ideas and companies is smart but I just feel that I would be too attached to my first company. I hope everything works out for you though!
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