28A
1. My exit strategy would be to sell my business between 5 or 10 years. This is because I know that my business will grow enough to become attractive to other investors. Since the beginning of this class, I knew that my venture concept will eventually come to an end because I always wanted to make it big and sell it after that.
2. I choose this as my exit strategy because I want to get into another type of business. Not only telecommunications. For starters, one business that I want to venture into is the cart parts manufacturing. I want to establish my own car parts factory back in my home country. I want to do this because I know that the labor cost in my home country is not expensive at all. I also want to do it because I know that the necessary materials for the car parts will not be a problem. However, my location is not the only factor that drives me to start this new concept. I also have some experience because of my social capital. I have a friend that is a mechanical engineer that looked very optimistic when I pitched him this idea. When I explained to him the little details and ways that we could make this true, he told me that we could make this a real thing. With the money that I can get by selling my telecommunications company, I can make my own car parts factory.
3. My exit strategy has not influenced my other decisions in my concept despite that I already knew that I desired to sell the company. This is because I needed time for my concept to grow. The only way that I could make money to make my car parts factory real is by working on my concept and by making it big enough to attract investors. Despite this, my concept has allowed me to see some opportunities in the market. For example, cable companies are the most hated companies in the world. Why not make a cable company that nobody is going to hate? That is why I thought about this concept when I was looking for opportunities. My concept has definitely affected my growth intentions since I had to work my way around to fight competition. When I was working on this concept I had to do things differently to have a competitive advantage over cable companies like Cox and Verizon. It also made me think about how I'm going to make it real and how I'm going to get the resources to do this. That is where my social capital comes in because I know a lot of friends that have experience in telecommunications companies that are willing to help. It was a very fun concept to work with despite how hard it is to make it real.
2. I choose this as my exit strategy because I want to get into another type of business. Not only telecommunications. For starters, one business that I want to venture into is the cart parts manufacturing. I want to establish my own car parts factory back in my home country. I want to do this because I know that the labor cost in my home country is not expensive at all. I also want to do it because I know that the necessary materials for the car parts will not be a problem. However, my location is not the only factor that drives me to start this new concept. I also have some experience because of my social capital. I have a friend that is a mechanical engineer that looked very optimistic when I pitched him this idea. When I explained to him the little details and ways that we could make this true, he told me that we could make this a real thing. With the money that I can get by selling my telecommunications company, I can make my own car parts factory.
3. My exit strategy has not influenced my other decisions in my concept despite that I already knew that I desired to sell the company. This is because I needed time for my concept to grow. The only way that I could make money to make my car parts factory real is by working on my concept and by making it big enough to attract investors. Despite this, my concept has allowed me to see some opportunities in the market. For example, cable companies are the most hated companies in the world. Why not make a cable company that nobody is going to hate? That is why I thought about this concept when I was looking for opportunities. My concept has definitely affected my growth intentions since I had to work my way around to fight competition. When I was working on this concept I had to do things differently to have a competitive advantage over cable companies like Cox and Verizon. It also made me think about how I'm going to make it real and how I'm going to get the resources to do this. That is where my social capital comes in because I know a lot of friends that have experience in telecommunications companies that are willing to help. It was a very fun concept to work with despite how hard it is to make it real.
Hey David,
ReplyDeleteI definitely agree with your post if that is your mindset and so it is best to sell it when it is profitable and venture off into what you really have a passion for. It also should not sway your input into the company, because you have to go hard and get it to that place to be able to command a high return anyway, so it's important to put your all into it no matter what the end game is.