I believe
that exit strategy is something I would develop at least three years in and
that it would a direct result of the progress made at that point. My thought at
the moment is I would be willing to test the acquisition market and see if there
is a potential large corporation who would be willing to pay a fair market
price and who would have a lot to gain from integrating this firm into theirs
and are willing to include that value in their valuation. The reason I would
sell it so is so I get back to my list of ideas and the pick one that I would
like to go with but which I couldn’t because it was too capital intensive for
me to afford when I started this one. My entrepreneurship model is Elon Musk,
who built company after company with the proceeds of the last one he sold in
order to create the capital needed to go after the biggest, craziest ideas he
had in mind. I don’t think my exit strategy would affect the way I make
decision about the firm, at least until the very end before exit time is up.
Hey, Lirim. Your strategy makes a lot of sense; it's very practical and often something entrepreneurs use in the real world. Sometimes it's a little too far out within the first year to predict what your exit strategy is going to be, but I believe there is an old business saying that says something along the lines of 'If you're already thinking about how to get out, you're not fully committed to going all in' (with your business). Elon Musk is definitely a role model, and one of the world's greats.
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Hi Lirim. I really liked how you set up this exit strategy post, and how it was very different and unique. I also thought that some of your points were awesome and I definitely agree with your definition of an exit strategy. http://minaaomar.blogspot.com/2016/04/my-exit-strategy.html
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