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?
In all honesty if I was to start this business from the time I launch till like 5-10 years after I would hopefully be a big enough player that at least one of the large shipping companies wants to buy us out for a good chunk of change.
2) Why have you selected this particular exit strategy?
Basically I want us to be a big enough partner/competitor that they want to buy us out because we proved it was a good idea but we want out because we can't compete with those companies that is not our goal. Our goal was never to start a shipping company from scratch.
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 don't think it effected everything because the capital would be crazy to start a shipping company. We are essentially acting as a middle man so we are not trying to compete with the big box shippers
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It's neat that you'll want to grow into new challenges after growing your business. I imagined that my business would be my life -- I'm pretty stable and boring -- but I can definitely see why people who are more ambitious and need challenges would want to move on from one venture into others.
ReplyDeleteI feel like there’s just enough information about your idea that I really want to delve into your blog and find out more. I’m intrigued!
Check out my blog at
http://ufent3003jt.blogspot.com/2016/04/my-exit-strategy.html
Hey Garrett,
ReplyDeleteYour idea sounds super interesting and innovative! My business venture was related to parking at UF, and it turns out so was the businesses of many other classmates. I also think that it is really interesting that you would like to sell your business. I feel that most of our classmates have said that they would not sell it as we have invested so much time and effort into it.
Here is the link to my blog if you want to check it out: http://theroadtoentrepreneurship.blogspot.com/