28A - Your Exit Strategy

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?

·      I think that I would likely sell my business in the next 5 years for a large return. While I am passionate about my business concept, I think that I can continue to create and develop products that add value to the world and help solve many of the issues that are prevalent in society today. While I would love to hold on to the business and continue to grow the idea, I am more passionate about making a difference in the world and I think that extends beyond this product idea.

2)    Why have you selected this particular exit strategy?

·      I selected this particular exit strategy because I think I would be able to turn the large return that I would get from selling off my company and use it to fund my next idea to hopefully solve another issue that the world is currently facing. The goal isn’t to strike gold and then stop, my long-term vision is to continue to generate business concepts that make the world a better place and help solve some major issues that we are currently dealing with. I would love to hold onto the business, however I do not think my long-term goals are achievable if I am solely focused on a company that will hopefully already be large by the time I decide to move on.

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 has really influenced many of the other decisions that I have made in my concept. I identified this opportunity with an open mind and without thinking too hard into the future. In creating a product to address this problem, I decided to go with a more-developed concept which will make it easier to grow quickly. Other than that, I think that continuing to focus on why I have created this concept has made me more passionate about creating similar concepts that have a positive impact on society as a whole. My vision is to make the world a better place and this concept is just one step in a long race to help accomplish that goal.