Wednesday, April 6, 2016

Entrepreneur My Exit Strategy

My first exit strategy would be to leave my business to protect the venture as a family business, and pass it down to my children. However, this may not always be an option. As, children can often choose to peruse their own interests that do not include my current business. In that case I would choose to stay with with the business until I retired. At that point I would have decide if the business was suitable for sale, or to be dissolved.
I have chosen this exit strategy because I believe that it would provide the best result deepening on the circumstances that exist at the time that I choose to cease being involved in the business.
I do not believe that my exit strategy would have a negative impact on the planning for the business for the future. Regardless of the direction that would be chosen to exit the business, I would continue to grow the business, look for new opportunities wherever they can be found and would continue to grow the business using resources to acquire more resources. Therefore, it would not matter which direction I went at my exit. If I passed the business to family the business would be in a good position to continue in a positive direction. Should I be in a position to dispose of the business, it should be in a good position to be sold as opposed to liquidation.

2 comments:

  1. I too came to the initial concept of passing it on to family. I thought about the same issues, kids not caring the way you do. I think if you instill that family legacy from childhood, you can see which children value the meaning behind the business. Wouldn't it be great to see three generations take on a care for something you've built from nothing?
    If you have time, I always appreciate feedback
    http://jamiecgarcia.blogspot.com/2016/04/my-exit-strategy.html

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  2. I think it was smart that you discussed your idea of passing it down to your family, but saw the flaws in that plan. I believe that by maintaining the company in your hands, you can do the best possible work for the company. If future generations want to join, the spot is always there. Check out my exit strategy blog post http://ent3003tb.blogspot.com/2016/03/my-exit-strategy.html

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