My 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?

My exit strategy is to sell off my business within five to seven years after I have shown that the venture is profitable.

2) Why have you selected this particular exit strategy?

I have selected this exit because, five years down the road, I imagine that I will have become bored of doing the same thing, as I am want to do. Another option would be to expand my business by creating other services to solve social problems. Keeping up this kind of innovation would keep me engaged with my business.

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?

At first, I didn't think of my idea as something I would eventually try to get out of. I thought of it as a start to something that I really want to do. I'm not sure about that now and that has definitely influenced the way I view this concept. If I were to go ahead with the idea, I would outsource a lot of the development so as to keep my risk low and just aim to prove that this business model works (along with actually caring about what I'm doing). So yes, the understanding that I don't want to be doing this forever has influenced how I view my resources.