Assignment 28: Your Exit Strategy

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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?
This business I believe to be more of a personal venture, rather than a professional one. My intentions would be to stay with the business and hopefully see the impact I intend for it to make. I made it free because for me this business was made primarily to create an external impact not for my own benefit.
2)    Why have you selected this particular exit strategy?
I selected this particular exit strategy because I want to see how my app will take form and serve as a change and relief for the food waste issue. I would like to be part of the growth and improvement of the app and maybe even be able to learn from it.
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?
As I said earlier, this idea came to me because it was an aspiration I had, as a contribution to helping our planet. I did not really have in mind to make an idea that would support me and be the primary focus in my professional life, but rather one that would allow me to be able to do more for our environment and planet. As a result, I knew that I would make the app free, so no one would be prevented of using it for any financial reasons.


Comments

  1. Thomas KindredApril 20, 2020 at 6:42 AM

    Hey Nicole, I too agree that my venture is more of a professional one. I plan on, if I actually create such a business, staying with it for a long time and having it within my family. I believe with a company you make yourself, it's your job to grow it and nurture it yourself. Your idea is so important and crucial to the times we live in. That being said, it's probably best you continue with this exit strategy.

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