28A - 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 believe that I would intend to sell my business in the next 5
years for a large return. I would sell it off to a larger medical company so
that they could take the research even farther.
2) Why have you selected this particular exit strategy?
I have selected this exit strategy because it will enable me to
invest in my future ventures. I would use the money I make to invest in stocks
and also start up a new venture. I would also begin a fund for my future family’s
education.
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 do believe that the businesses success in the market has been
focused on especially because I plan on selling it. The more value it has to
people, the more I will get out of it. I don’t think that it has influenced how
I identified the opportunity, but I think it helped me define the path to take.
What if you patented your idea and are given the choice to accept royalties over time (licensing) or sell the patent as whole which would you choose? This probably means how confident are you in your product that there will be widespread adoption of your product
ReplyDeleteDo you have other ventures already in mind and are they in the same industry?
I agree with Cory about. Patenting your idea is a great idea if you want to lave your project and work on something else. I love what you said here, "The more value it has to people, the more I will get out of it." I couldn't agree more. I want to better peoples lives, I want them to live the easiest and happiest life possible. If my idea can't do that, I need togo back to the drawling board.
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ReplyDelete(THE COMMENT ABOVE FROM "UNKNOWN" IS FROM ME , I WASN'T SIGNED INTO MY GMAIL)
ReplyDeleteI agree with Cory about. Patenting your idea is a great idea if you want to lave your project and work on something else. I love what you said here, "The more value it has to people, the more I will get out of it." I couldn't agree more. I want to better peoples lives, I want them to live the easiest and happiest life possible. If my idea can't do that, I need togo back to the drawling board.