Wednesday, April 6, 2016
My Exit Strategy
My exit strategy for this business is to let it grow for 5-10 years and then ultimately sell it. My entire business idea is based off an app that could be widely popular today because it is a fairly new market. I don't think that this type of service will be relevant 10+ years down the road and if it is, it may have a lot more competition. My plan would be to get it to it's peak, and then sell it and invest in a new idea, and then repeat. This way I won't lose everything I put into it. I would of course invest a lot of the money I make along the way in case my plan doesn't work out. I want to make a lot of money and start investing as soon as possible so 10+ years down the road I will have a steady income from my investments. An example of how I think my plan will work is when Myspace Tom sold his business for millions of dollars and then not too long after, it's use began to plummet immensely and it is now mostly irrelevant.
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Hi Kelsey,
ReplyDeleteI think you have made a solid choice on the way you are planning on exiting this business. Letting it grow and accumulate profit while its still at its peak is a must, but after a while competitors will begin noticing your success and will try to take away your customers and profit, so i definitely think selling it off right before that happens is a good idea. I also think investing your profits is a great idea and should be made one of the biggest priorities after exiting. Thanks for sharing and here is a link to my post: http://rodnog95.blogspot.com/2016/04/my-exit-strategy.html
Hey Kelsey,
ReplyDeleteI think you got a solid plan here. You're right, apps won't stay popular for long, so it would be best to make your money, then get outta there so you can start working towards your next big thing. And yes, Tom from Myspace is a very good example to follow in this case.
Check out my blog here: http://blazedbananas.blogspot.com/2016/04/im-gone-my-exit-strategy.html
Hello Kelsey. I respect the fact that you will sell your business after accumulating profit. The competition within the app market is incredibly neck to neck and I do agree in that investing in your profits should be able to help you to continue making money even after selling your business. Maybe you could begin a new venture while investing in your profits and be able to attain an even more profitable business concept. I have personally chosen to keep my business within the family. Here is a link to my post. http://clarissaidos.blogspot.com/2016/04/my-exit-strategy.html
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