28A - Your Exit Strategy
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 on staying with CPAP Hygiene for several decades and then retire. It would be nice to hire one of my children to eventually be the CEO and I could sit on the board and chime in when needed. However, if by some strange reason in 5 years my business was worth billions… PEACE I’m out lol.
2) Why have you selected this particular exit strategy?
I want to feel like I accomplished something in my life. Having a successful business for several decades and being able to have your child take it over is awesome! I would feel like I was leaving my baby with my baby lol. Isn’t owning your own business an American dream? I’d love to check that off my bucket list.
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 hasn’t really influenced the other decisions I’ve made in my concept. I would care just as much for my employees, weather I had the business 5 years or 30. I’m not one of those Entrepreneurs that just wants to invent… invent… invent; I want to have one amazing service and the product I developed.
It is important to me to build a lasting organizational culture that will stand the test of time. In that way I feel that maybe my exit strategy does influence my growth intentions and how I want to recruit and retain resources.
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 on staying with CPAP Hygiene for several decades and then retire. It would be nice to hire one of my children to eventually be the CEO and I could sit on the board and chime in when needed. However, if by some strange reason in 5 years my business was worth billions… PEACE I’m out lol.
2) Why have you selected this particular exit strategy?
I want to feel like I accomplished something in my life. Having a successful business for several decades and being able to have your child take it over is awesome! I would feel like I was leaving my baby with my baby lol. Isn’t owning your own business an American dream? I’d love to check that off my bucket list.
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 hasn’t really influenced the other decisions I’ve made in my concept. I would care just as much for my employees, weather I had the business 5 years or 30. I’m not one of those Entrepreneurs that just wants to invent… invent… invent; I want to have one amazing service and the product I developed.
It is important to me to build a lasting organizational culture that will stand the test of time. In that way I feel that maybe my exit strategy does influence my growth intentions and how I want to recruit and retain resources.
Your exit strategy is on the money! being able to just turn over a business for millions of dollars and just sit back and relax and enjoy life is the real American dream though is it not? Hope it all works out and you can leave your business for your kids. My dad has his own business in Chicago and although he makes great money, the stress levels were to much and didn't want us to take on the same stress.
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