Your Exit Strategy
1. I think the exit strategy that I plan to make is to sell my business in the future for a large return.
2. I chose this exit strategy because it's an app and technology is always evolving I feel that I will eventually will want to switch my career up and go a different route.
3. I don't think my exit strategy has really influenced any of my decisions throughout the entrepreneurship process mostly because I hadn't given it a lot of thought until now.
I think it is great that you recognize technology is always changing. if your app were to become successful, there would be new entrants into the market to challenge it, so selling at the correct time could be advantageous. You mention selling your business for a large return - have you spent time truly thinking about what the number would have to be for you to sell? Once you have figured that out, it can help you build out specific revenue goals.
ReplyDeleteHello Savannah,
ReplyDeleteI think your choice in exit strategy is good for your venture. Usually apps do not stay relevant for too long unless its a big hit. I think a dog walking app will be better off if you sell it to another company and take a nice return. Also, by letting go of this you open yourself up to investing your time into other ventures.