1) My exit strategy I have planned is to keep the business in the family, retire myself after years of carrying it on and pass it down to my children in the future.
2) The reason I'm choosing this strategy is because I don't want this business to go to just anyone. I'd like it to go to someone who is passionate about the cause and the purpose of it and I would plan on educating my own children and other family members on its importance and hope they grow to know more about the special needs population this business would target and what their needs continue to be. If I were able to pass the business down to another organization that works with the ASD population or is focusing on furthering the resources in this area, I would not mind partnering up with other organizations and allowing them to take the business over. But intially, I would like to keep it in the family.
3) My exist strategy influenced other aspects of my concept because I knew this was a business I wanted to keep in the run for a long time because ASD needs will always exist. I came up with my venture as an app because technology is something that will always be around as well, and as newer generations come in and awareness about the special needs population grows, my venture would become more useful and more accessible to all kinds of individuals because of it's flexibility and ability to be adjusted to anyone's location and area.
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30A - Final Reflection
The most formative experience in this class for me, was creating an elevator pitch. An elevator pitch is something I did not have to do ver...
Hi Julissa, I think this exit strategy is an excellent choice for your venture. You provided some sensible reasoning for the exit strategy of keeping the business in the family. I agree that it is important for someone passionate to be running this business because it requires a good feel for the ASD population and resources available for these families.
ReplyDeleteHey Julissa, I thought you did a great job with this post and love your idea with the exit strategy. I think its really cool that you want to keep it as a family business, and continue to work on your product. I, personally, didn't choose this route, but I can respect it. I completely agree that this business should not just go to anyone, and should be handled with great respect.
ReplyDeleteGreat post and it shows you put a lot of thought into it. The only thing I am not super into is your idea that you must keep it in the family. I agree you should want it to go to someone that is super passionate but who's to guarantee that any of your family will be passionate about it. Besides that I think you really thought this all through and I think this is a great exit strategy.
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