Exit Strategy
Picture by BrokenSphere
Exit Strategy Plan:
My
exit strategy would be tough, because it’s a growing technology business. The future
of my technology business had artificial intelligence. I had hoped to somehow
become the main controller of AI’s in general. That way, they don’t fall into
the wrong hands, or used for unlawful actions. However, I think that there may
be a government bureau dedicated for this anyways. Part of my plan was to make
sure they would be used as tools to help us with our jobs or enhancing our
skills. Huge and well-known companies are already in the process of building AI’s,
so this window of opportunity is not going to be open for long. After branching
off from Apple after establishing a strong image, I would need a strong
innovation team. If AI’s are the route, then I would be staying with the business
for several decades. Depending on my children’s passions, I would or would not pass
it down to them. If they have a passion for technology, they will continue to
grow the business and withhold a strong name. However, if they want to go into
other fields, then I would need to sell it at some point. I would probably
retire, and retain shareholder status. Therefore, when I pass, my family would
have shares passed to them.
Why select this Exit Strategy?
This
strategy is chosen, because technology has unlimited possibilities. It would be
hard to leave after five years, unless the venture needed to be branched out.
For example, Google. Google has a new parent company, Alphabet Inc. This is
because Brin and Page wanted to discover new ventures. Also, I don’t want to
force a future on my children. Everyone is different. What if they wanted to be
a doctor? I would only pass down the business, if I knew that one of children
would want it. Also, they would have to have the ‘will power’ to keep it going.
Influences?
I
would say that my venture concept influenced my exit strategy. I could see my
future opportunities after making that plan. My overall strategic plan is
developing ‘smart gear’. Smart gear has unlimited possibilities as far as
developments go. This is what will grow my company for years to come.
Seems like most posts I have read have similar exit strategies. If you create a successful business it would be very hard to sell it. My strategy was to pass my business to my children as well. If they did not have the passion for it it would be on them to decide to sell.
ReplyDeletehttp://gainerent3003.blogspot.com/2016/03/your-exit-strategy.html
Nice post. I completely understand, once you grow a business and pour your heart and soul into it it would be hard to give it up. It becomes your baby and your lifestyle. I like your ambition and passion to do what you want!
ReplyDeleteHere is a link to my post:
http://paigecarlent3003.blogspot.com/2016/04/exit-strategy.html
Hi Britt,
ReplyDeleteJust by reading a previous post, it seems that you tech watch idea is pretty impressive! I actually opted out to sell my business within 5 years since it is tailored to college students and I do not plan to raise a family in Gainesville, but your type of business idea gives you that possibility to grow along side with it. Here is my post: http://juansesoto.blogspot.com/2016/04/my-exit-strategy.html