- My exit plan is to play it by ear. Most likely, since the wireless charging system will take a lot of capital to start up, so it will also take a lot of time to recuperate the initial investment. Once it gets to the point where the wireless charging system is making money I will probably hold onto the business for another 5 or so years and then sell it and cash in. Now if the business is doing exceptional, and I'm enjoying what I'm doing then I will hold onto it for as long as I can, but if it is just chugging along and doing okay and taking up my time then I will most likely sell it.
- I selected this because it is pretty flexible, and it allows me to make the decision when I get to that time. Most likely a lot of things will be different then, and the business could potentially be worth a lot. It would be silly to plan for things that far in advance when they could be so different and all of that worrying and planning would be for nothing.
- This decision mirrors how I plan on running my venture. I will ultimately have goals that I want to complete, but when it comes down to it I'll have to make the game time decisions during the game, and not in the locker-room before the game.
Wednesday, July 25, 2018
My Exit Strategy
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Hello Ethan, I believe that you have an excellent idea with you about how you want to exit your business. I believe that with your wireless business, you will be able to sell it to someone else as this is a future of technology. Especially, I believe that you should try and sell to airline companies to implement this in their airplanes. I agree with you that this exit strategy is flexible as you are leaving your doors open to anything happening.
ReplyDeleteHey Ethan,
ReplyDeleteLike yourself, I want to hold onto my company for as long as I possibly can. With that being said, it is tough if you were made an offer you believe you might not ever see again in your life time. Hopefully our products would give us this extremely welcoming problem! With that said, I like your strategy and believe you would do well with it.
Hey Ethan,
ReplyDeleteI thought you were decision to "play it by ear" was very thoughtful and wise. Sometimes in life it is smart to make a decision so quick and thrash. Sometimes it is smart just to wait a second, ponder and truly think out the consequences of those actions. Flexibility is such an important aspect to take advantage of in life, because if you limit your flexibility then it restrict yourself to a more difficult life.