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 think if this business really takes off I might give it to my kids and make it a family business, but this would mean they have an interest and are business minded or if the business had room to grow.
2) Why have you selected this particular exit strategy?
I did this because it gives me one exit out if I needed one. Also this gives me a legacy for my kids if I needed it to.
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?
The decisions I made for my exit strategy didn't effect much. I think making this concept changed my opportunity horizon.
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