Exit Strategy
1) The Plan
In the next five years, I plan on making this venture an independent app instead of an extension to the ones provided by school districts and universities so I would like to go from a B2B venture to a business to consumer ventures. I would like this business to stay within the family, especially since my family is a huge contributor to the brainstorming process, but I would like the app to continue getting better. I would eventually like to take the company public and put it on the stock market to increase buzz and profits.
2) Why?
An app is something that can always grow and improve. As technology and education get better, there will be more ideas and more ways to make the app as efficient and effective as possible. Keeping it in the family will make sure that our values always shine through to both consumers and potential employees.
3) Influence
To be honest, I hadn't even considered an exit strategy until now. A venture like an app is so malleable, and the idea I have is so broad that it can always be built upon. I thought a venture like this could take up my whole life and still not be the best it could be.
Jessica,
ReplyDeleteI like your plan to expand, as it your app has never ending opportunities! I can picture your app including hospitals, offices, schools, large buildings, amusement parks, it really is a huge opportunity. I also find it admirable that you want to keep your venture within your family instead of just sell it because it could help future generations as well.
Hi Jessica,
ReplyDeleteInteresting exit strategy, my project was running a photography business and leaving it as family business was one of the options I thought of. But that's not for everyone as you know, getting down to business with your family member is tricky because you will also have to have business relationship with them. Also, going public may sounds tempting, but that's only if your business really takes off and become successful first.