I plan to sell my company off in about 5 years or so. The plan is to sell it off to another company or person when I feel like it is the right time. 5 years seems like the company would be established enough for me to sell it off.
I have selected this particular exit strategy because I think that it could get really hard to maintain. I don’t view myself as the most entrepreneurship person and I think that someone else could probably do a better job at running the company. I don’t view me selling the company a failure in anyway. If my business was successful enough for someone to want to buy it for a large amount of money I would view that as a positive for me. Someone liked my idea enough to want to purchase it. Right now, I don’t know how much the industry could be worth in a few years but hopefully it is a growing industry.
I think that my exit strategy has influenced my business concept. Early on in process, I thought that I would sell it off to a bigger company. So, that seed has been planted in my own head for a while that I would sell it. I think that if I didn’t think about selling it I could have made more intricate decisions. My growth intentions has probably diminished because I didn’t have the mentality to grow it to its maximum. I was going to let someone else take over during that time.
Hello Rachel,
ReplyDeleteI think it is smart that you recognize this product is not something you want your career to encompass. I think your product is a great idea but you come first and if you don't want to keep with the business and entrepreneur side of things I think it's a good idea to sell. I think you have thought this out well, great job!
Hey Rachel,
ReplyDeleteGreat job on this post! i really enjoyed reading it. We share the same plans in terms of selling the company for a large share in about five years. I appreciate your honesty in saying how you don't really see yourself as the most entrepreneurial-savvy person. And that is perfectly fair. I see your reasoning for it, because i too am scared of something getting to large and not being able to handle it.