1) My exit strategy would probably be staying with the company. If someone is willing to buy my business for a pretty penny then I would consider. My business would not be a family business, so it would not be passed down. My business would be sold to another similar business that would enhance my products or combine it with theirs.
2) I chose this particular strategy, because I want my products to grow into something big. I don’t want only few people to know about my product. I want the whole world to know what my product is. Sometime in order to do that is to sell it to a business that everyone already knows about.
3) My exit strategy has influenced how I would market my products. I would try to market them to similar businesses more to try to get the businesses interested. If a business really like my product, they might try to buy it from me.
Hey Melanie,
ReplyDeleteI like that your business is strictly looking for profit. Regardless of profit, you are also looking for product awareness in the mind of every consumer or person in the world. You take pride in what you have developed and you want everyone to know about the product, even if it means selling to another company without having your name recognized for it.
I agree with your strategies Melanie. I too am a little undecided about how I would deal with my business after a period of years. If someone is willing to pay enough for it I might consider. But also thought of building an empire myself and letting it be passed through generations is a tempting idea as well for me. I also wouldn't want to relinquish to anyone else pretty soon because I have so many ideas for products that I know only I could execute the best.
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