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 my innovation is definitely sustainable, I will just need to pass it along to students or other organizations that can keep it going. The first way to do this would be partnering with on-campus organizations concerned with sustainability. I don't think I would consider selling the business.
2) Why have you selected this particular exit strategy?
I have selected this as my exit strategy because the need will continue to grow without the service I am providing. While my project does not fully eliminate food deserts, it helps to offset difficulties related to them. I also think this could be a great opportunity for students.
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 think identifying new opportunities, such as more suburban communities, has helped me create a strategy that is mobile and can continue.
Hi Megan! I think it will only help you in the long-run that your business idea is so mobile and accessible. I don't think you'll be confined to typical exit strategies because of this. If you don't plan to sell your business, do you mean that you'll hand it off to another student organization? Do you plan to have a hand in the business once you pass it along?
ReplyDeleteGreetings! I find the observation that you could pass it down to an on-campus organization very interesting. These collective employee owned companies are becoming more common and create a sense of common good and ownership that is important to create good corporate culture. I find that good corporate culture and a sense of community is the most difficult asset to create.
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