Monday, April 4, 2016

My Exit Strategy

1) I am intending to get a great return on my business concept, but things are ever-changing and the future is filled with ambiguity. Since no one knows what is going to happen and what innovation is going to occur, I cannot bank on the fact that I "think" my idea will be lastingly successful. I plan to be as successful as I can with my idea, and then to eventually retire and live a long, happy, and peaceful life. I do not plan to pass this venture down just because it consists of a couple products that could probably be easily replaced with new technology in the future.

2) I selected this exit strategy because after analyzing how the market will change, I think it is for the best. I love my idea and want it to go as far as it can, and once I stop getting great returns I will cease doing it. I know I have to be truthful with myself and my idea, so I think this is the best route.

3) My exit strategy compliments the rest of the decisions I have made this far with my idea because it fits in as the perfect ending. After spending all of this time analyzing the different aspects of my venture, it was time for something like this to come along. It has made me realize that not all great ideas or businesses can last forever, due to the ever-changing nature of the world we live in. Additionally, it has influenced the way I see my market and how my target audience might change too. For instance, what happens if they reinvent dance shoe material, creating no need for my product. The future is so unpredictable!


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2 comments:

  1. DCarterApril 10, 2016 at 8:41 AM

    Hi Cassidy!

    I thought the same thing. Get as much as you can now and then get out. My idea could possibly be passed down, but I doubt anyone in my family would want to :) I love that you are realistic and know your idea is worth it but in the long term you accept the unknowns. Good job on coming up with a exit strategy that you feel compliments your idea as a whole. Sometimes that is easier said than done. You seem to grasp the concept of your idea's life span and that helps in having success. Great job! You can check my exit strategy out at http://deannacarterdays.blogspot.com/2016/04/my-exit-strategy-for-style-on-run.html

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  2. Cricket FanApril 14, 2016 at 1:03 AM

    Hi Cassidy, you have taken a very smart approach on how you plan to exit your venture. I think that you have analyzed the shelf life of your product well, to determine if it will worth passing down. Your honest approach could save you from future debts. I like the idea and I agree that it has the potential to be profitable. How long will it be before they is no need for the product? That is the mystery. Well done! My blog is here… http://acwilliams83.blogspot.com/2016/04/my-exit-strategy.html

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