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"Joining to jump: Force Recon Marines perform parachute training with SEALs, pararescuemen" by DVIDSHUB. https://flic.kr/p/9d3QYt |
As entrepreneurs, it is good for us to have a solid exit strategy. For the Navy SEALs pictured above, their strategy was simple: jump. Mine is relatively simple as well. It is a plan that I have actually been saying since the very first elevator pitch video, and I see no reason to change course now. My plan is to make a solid product, then sell the rights to it to a larger company. I would preferably keep some stock in the company or a royalty agreement. But if a good enough deal can be agreed upon, I would sell the entire thing outright. I selected this strategy because it is the most logical way to make money. Make a product that does well, then sell it and invest the money into something new. I don't think this particular exit strategy has influenced my decisions a great deal. Since my goal when owning the product is also to make a profit, the decisions I made haven't really been altered by this plan.
Hey Ryan,
ReplyDeleteGreat analysis when deciding what exit strategy should we adopt! I believe you have a great knowledge of how you want the lifecycle of your business to be and that is essential on the first stages of your company. However, I believe that even though exits strategies can be developed with anticipation, the real decisions has to be made after seeing the results of the venture. All in all, great post!
Take a look at my post and let me know what you think about it. Here is the link:
http://alejandroentrepreneurship.blogspot.com/2016/04/my-exit-strategy.html
Hi Ryan!
ReplyDeleteI thought you did a good job of explaining your exit strategy and I like that you compared it to something like the NAVY seals. I agree that the ultimate goal is to make as much as profit as you can so the way you described your strategy makes the most sense. Good luck with the rest of the semester! Here is the link to my post: http://myent3003blog.blogspot.com/2016/04/my-exit-strategy.html