28A - Your Exit Strategy

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 plan to try and sell the patent as well as the brand to a bigger office supply manufacturer in 5 to 10 years. I will also try and keep a percentage of the business or remain involved in the company.

2)    Why have you selected this particular exit strategy?

I think this product will become obsolete eventually as we move towards a paperless environment so I would like to make as much money as people on the venture. I would also like to remain involved in the business at an executive or board level so I can continue to monitor my product and still be involved.


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 that my exit strategy shows that I thought of this idea because I thought it could generate a lot of money in the future and be a very helpful and popular product for everyday people. I think as far as growth I would want to make the product available on a global scale so I am able to get a higher valuation when I believe it is the best time to sell the majority of the product.


Comments

  1. Bernard BynumApril 19, 2020 at 5:39 PM

    Michael,

    You have a well thought out exit strategy. I like how you took into account the fact that a product like yours could become obsolete quickly. The current quarantine situation we are all facing perfectly shows just how easily everything can moved to an online, paperless environment. You talked about wanting to make your product available, this would be a great idea because you can sell your product to areas that can generate a lot of money with a lower risk of becoming obsolete.

    ReplyDelete
  2. The Mainzer PostApril 20, 2020 at 12:14 AM

    Michael,

    Overall, i believe that you developed a great idea that will benefit many people. There is a target audience for this product especially with alot of people moving to technology based notes. The ones that stick with paper notes will greatly benefit from this product and be the main source of revenue. I really enjoyed watching the development of your product throughout this course. Great job!

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