Assignment 28: 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 have mentioned before that I don't really see my business venture as a full time job or a product that would really be able to take off and make a lot of money. I would love to do it as a hobby or a side hustle to make a little bit of extra cash on the side. If I were offered a good amount of money to sell my business, I definitely would and use that money to start another company. I get bored of things pretty quickly so I see myself starting a few different companies throughout my life, selling them, and then starting another one. 

2) Why have you selected this particular exit strategy?

   I think that with the way I like to live and work, this strategy would be the best option. Then again, if I were to put all the work that it takes to start the company and it became a really valuable product, I would probably hold on to it for a few years because kayaks are a huge part of my life and I enjoy the aspect of being able to create new products with it. 

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 from the beginning, I knew that I wouldn't want to have this product as my full time career but I don't think it stopped me from doing research and trying to get every aspect perfect. I liked that I was able to come up with a product that pertains to a need that I personally have and even if I didn't fully create a business out of it, I would want one for myself.