Wednesday, April 6, 2016

Exit Strategy

Exit Strategy
1.       My exit strategy would be to sell the company, hopefully, to one of my employees to help better both of our lives. I would like to make the exit after about 10 years of running the business myself. I think this gives the business enough time to have a good foundation and reputation and also allows me to make a good amount of money to live off of and travel the country.
2.       I have selected this exit strategy because I feel like it gives me and the business enough time to establish ourselves and expand but also isn’t so long where I could possibly get burnt out. The reason I would like to sell the company to one of my employees is in hopes that they continue the tradition that we built together.

3.       I do not think my exit strategy has influenced my decisions in my concept. I think 10 years in a business is ample time to complete everything I have mentioned in my concept. Staying with the business allows me to expand the region to which my company provides its laundry service and also allows me to add to what services I provide such as dry cleaning and comforters and sheet washing. It has given me a deadline to have my business at a certain point where I can live comfortably after selling my business. The 10 years until selling is a goal I would like to achieve.

Picture of me at Fenway Park.
Posted by at
Labels:

3 comments:

  1. UnknownApril 13, 2016 at 7:51 PM

    Hi Easton. I think you have the right idea of keeping the business for at least 10 years. That gives you the time to build it with clients and then be able to leave it in reliable hands so you can travel and reap the benefits of your hard work. I wish you luck. Here is my Exit Strategy blog.
    http://ctaylornewsblog.blogspot.com/2016/04/my-exit-strategy.html

    ReplyDelete
  2. Kevin SnihurApril 14, 2016 at 4:54 PM

    Hi Easton,

    Great work on this assignment! I really like how you laid out what you want to do with your company when you are done with it. This would be a great way to secure your future and move on to something great in the time that passes. Great work! Here is a link to my blog: http://ksnihur.blogspot.com/2016/04/my-exit-strategy.html

    ReplyDelete
  3. Fabian HostettlerApril 14, 2016 at 8:29 PM

    Hi Easton, it's Fabian from Admin.

    Great post. I really like your thinking in keeping the business for 10 years or so at a minimum. When you put that much effort into something it is a bit of a scary proposition to sell after 4 years and watch your work go to waste under an ineffective venture capital, for instance. I think the point you made about getting burnt out is very important too - there are only so many passions-turned-businesses where people are 110% engaged with their work every single day, and I think if you are one of those people, there is no need to sell until you are done working for good, anyways.

    I forgot to post this assignment but feel free to check out my blog here:
    fhostettlerufent.blogspot.com

    ReplyDelete

Subscribe to: Post Comments (Atom)