1. As I have said in previous posts, I have a huge passion for Finance. That is the career I wish to pursue. That being said, I plan to build up this business as I study in college, and have it be a side/passive job while I work. Eventually, once the business has seen significant growth (3-5 years), I will sell it.
2. I selected this particular exit strategy because while I believe I identified a great opportunity with a lot of potential, I want to pursue my dream of being a wealth manager or the CFO of a large corporation (still haven’t decided).
3. My exit strategy only reiterates the fact that I need to put a lot of effort now to get it ready to be sold in three years. I would like it to equate to a large sum of money that I can use to invest into real estate early on in my life. As far as how my exit strategy influences my resources, I will continue as previously planned.
Hi Erick!
ReplyDeleteI think the exit strategy that you have chosen is the best fit for your company and as it seems, your future. Your app will be extremely helpful with appliances, and other large corporations will see the value in that. If your app sales grow rapidly in those first few years, competitors will eventually come and try to have the same success as you. Selling your app before or when that happens ensures that you got the market at the prime without much competition.
Hey Erick, not only do I agree with your exit strategy, I also have some of the same goals as you. I love finance and want to be a manager of a firm in the future. Also, I plan on investing most of my savings and money into real estate and hopefully live off of my properties when I am older. I want to have dozens of properties and live off the income I receive from them.
ReplyDeleteHey Erick,
ReplyDeleteI think your exit strategy is the best choice for your business and future career. Once you have made your business successful the smartest thing would be to sell it so that you can focus more on your CFO goals. If your app sells fast and does well a competitor would most likely want to buy you out to avoid competition.