1. Depending on how profitable the business is I would
potentially sell it. However, in selling it I would want to sell it to someone
who would hold the business to the same standards I would of excellence. So
potentially I would sell it to someone I would trust rather than to just
anyone, or another company that would try to buy.
2. I intend on this strategy as I don’t want the work I put
into it to go to waste in a couple of years by selling it to someone who
wouldn’t have the same care of the business. It would also not look good on me
to sell a company for someone to then destroy it or not provide the same level
of excellence it had when I had it.
3. I really don’t think my exit strategy has influenced
anything. I always knew I wanted to build a business that has a good reputation
to it and provides a quality product to the customers. In terms of growth
intentions though I would plan to branch out into more areas to become
diversified. However, I would still want to maintain the level of excellence in
every aspect of the business. So, if that potentially means to sticking to one
area that I would do exceptionally well in, I would stick to only one area rather than being mediocre in a lot of potential markets.
Hello Raul!
ReplyDeleteI fully agree with you that "I would want to sell it to someone who would hold the business to the same standards I would of excellence". In my post, I said something similar except I plan to stay with my business until I retire to uphold all the company standards. I think you did very well on this post! Great job.
Mackenzie
Hi Raul!
ReplyDeleteWhat a great strategy that you decided to use same format business to help people understand your exit strategy. In the meantime, you mentioned that your exit strategy did not influence anything which is great. Most people's strategies affect their plans negatively which determined the trend of development of their business plans. In general, you did a great job on your analysis of strategies.
Hey Raul,
ReplyDeleteRegarding your exit strategy, it also depends upon the success of the business for myself as well and I do find that I agree with your points. I do think if I believe my business is not successful then selling it is also a great idea. I also find that branching out is a very valid option.
Overall, great post!