I would like to build and run the business for at least 15
years. After this time period, I would
seriously consider selling the business to a larger corporation. My plan is to work very hard for many years
and then relax and enjoy the money I earned.
When a business expands greatly, the necessary work can become a burden
and continued stress can be unhealthy.
If the business is successful, I would like to retire by 40. I have selected this particular exit strategy
because I live by “work hard, play hard”.
I want to work hard the first half of my life and enjoy the benefits of
this hard work the second half of my life.
Planning this exit strategy only effects how I create the foundation for
my business. Because I will not be
passing on the business to family, I will spend more energy pitching the idea
to major corporations to prepare for the big sale in the future.
Adam,
ReplyDeleteI am a fond believer in the "work hard, play hard" mindset. I think that as long as you could develop your business into a desirable entity within the first 15 years, you would have no issues selling it down the road. If you plan to invest most of your time in the early stages, then that goal is very realistic. Best of luck in whichever plan you do choose!
Hey Adam,
ReplyDeleteI understand why you’d want to move on. Your idea sounds like it would be a simple yet effective product that you wouldn’t need to build off it once it starts selling. You can just move on and possibly invest in other entrepreneurships or start another one. It also seems like when businesses expand, more big roles need to be filled and the entrepreneur somehow gets pushed out or doesn’t get to make the same executive decisions. Getting out early while you can with as much money as possible sounds like the way to go.