28A - Exit Strategy

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1. I do not have an explicit exit strategy, If I had to pick one of the three options listed, I would say that my plan is to continue running the business (on the side) until retirement.

2. I do not anticipate the business generating significant, consistent cash flows and considering that I am focused on completing a college degree at the moment, I am not certain how much time will be devoted to the business. Likewise, I don't anticipate having a business to sell in 5 years or a business to hand off to my next generation. If I do decide to invest more time into the business, I could see my younger brother potentially carrying it on after I move on.

3. I think if I intended to rely on the business for necessary cash flows into the near (or long-term) future, I would have more aggressively sought out opportunities. In other words, if I was relying on the startup to pay my bills (like the majority of entrepreneurs), I would have been waking up everyday to fight for the business' prosperity.



Comments

  1. Daryl SutherlandNovember 22, 2019 at 9:16 PM

    Johnathon,
    I also have thought of opening businesses but being in college is what holds me back. I have had jobs in school and that even difficult to maintain, I could not imagine running a truly successful business while getting a college degree. If this were to be your side business what would you want to focus your time on. I am glad that you thought of your brother when you shared who you would pass your business to.

    ReplyDelete
  2. Remi TaylorNovember 24, 2019 at 10:21 AM

    Hey there Johnathan, you did a super great job with this blog post. We chose the same exit strategy, that is, continuing to run the business until we reach retirement. Being in school right now obviously makes it very difficult to dedicate your time to a full time job in order to pay bills. That is something that most likely has to wait until after college.

    ReplyDelete
  3. Nicholas A. LaheraNovember 25, 2019 at 9:31 AM

    Johnathan,
    I think that your exit strategy is really interesting and it gives a sort of detached feel from the company. I think that you are probably more passionate about something else and I think that you should find what that is. Now that you have all of the tools to execute something you are passionate about, I say do it. Go make a difference and work hard at something you find pleasurable. I have see you place major effort into your assignments this semester and show your ability work towards major goals. I wish you all the best in finding where you fit best.

    ReplyDelete
  4. AustinAbramczykNovember 25, 2019 at 10:54 AM

    I also believe that it's hard to think about an exit strategy this early in the venture. Like you, I would use the ventures we created for this class as a side piece for our future goals. I plan on having my business opportunity as more an extra cash flow coupled with my main job being a firefighter. School is definitely the main focus at the moment because of how much time we need to be dedicating to things like studying. Some of us need to pull off those all-nighters at some points of the semester.

    ReplyDelete

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