Tuesday, March 29, 2016

My Exit Strategy

1. I don’t necessarily have an exit plan but I do tend to stay in the business. With manufacturing, I feel that a lot of the business is automated and once you have a system going you can have other companies do the work for you. For example, with amazon they will reorder your product when they run low, store your product, and ship the product whenever a customer orders it. This leaves you time to come up with new products, test the market, and then put your products on the market. I assume I would be able to either sell this business when I retire or pass it on to a family member who has the will or drive to keep the business running.


2. I have selected this particular exit strategy because I feel like I can still live an open and free life with the business running. I want to own a business that runs on automation and liberate myself from the 9-5 curse that most Americans deal with.


3. This exit strategy has definitely changed my decisions I’ve made in my concept. Because it’s not just about coming out with one successful product and then selling the company for a profit, it’s about continuous innovation and helping people. I will constantly be looking for reachable niche markets, brainstorming products, micro-testing products, and hopefully launching successful products that help people in every day life. I plan on using the successful principles of past companies to grow this company into an income producing giant! Using this strategy I will always be cautious of payables and receivables and not just what product can take off and make me a million bucks.    

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3 comments:

  1. UnknownApril 7, 2016 at 7:36 PM

    Hi Keifer,

    Not having an exit strategy is common among entrepreneurs. Depending on the success in your venture, you can sell for a large profit amount, or stay in the business in order to keep making it grow.

    My blog:http://anaguevarauf.blogspot.com/2016/04/my-exit-strategy.html

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  2. UnknownApril 7, 2016 at 7:38 PM

    Also, keeping yourself running the business is very flexible. I used to work for a small business, and they would come to the location once every two days, and as their venture grew, they looked into expanding their company.

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  3. UnknownApril 14, 2016 at 9:45 AM

    I actually really like your idea for holding onto your business, maybe it's just me but I know even if I want to go into a business partnership I would always want to have some part and say in my business that I created because I feel like if it still has potential to expand I would still want say. Great post you can check out mine here http://theentrepreneuriaou.blogspot.com/2016/04/my-exit-strategy.html

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