If I had to plan out an exit strategy for this venture, I would probably wish to sell it within several years for a tidy profit. My reasoning for this is that technology, and especially phone applications, is an extremely rapidly shifting market space. On top of that, my demographic is young college students, a demographic with rapidly changing tastes and needs. Even if I came up with a great idea here and now, its not likely it will stay that way, or that I will be able to continue to come up with more ideas to target the same marketplace. By getting out and selling early, I avoid the problems that come with my venture aging while still making a profit.
I'm not entirely sure if this exit strategy has meaningfully impacted by business strategy. I'm not shifting to short-term plans in lieu of long-term plans because I know I'll be out of the game sooner rather than later. Its more that I recognize my venture idea is highly dependent on time and place and I want to only be in that business for as long as that time and place lasts. Besides that though, it has not affected by strategy.
Jordan Your exit strategy sounds good although I wasn't able to tell what your venture was from the post. I think you do a great job understanding that technology changes fast and that one good idea may not last very long. You can check out my exit strategy at http://jackiepanetta.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Jordan,
ReplyDeleteI think it shows a lot of foresight to have a plan like yours. One definitely should be aware of the fickle nature of the technology market when entering with a venture. I d believe that there are alternative means of adapting to the shifting needs of a rapidly advancing industry, but at the same time the security of your plan is admirable. I hope that this venture works out for you.
Thanks for sharing! Here is a link to my own post on the topic should you care to take a look: http://ablog4c.blogspot.com/2016/04/my-exit-strategy.html
Hi! I get that you want to get out of the company before it gets too big to handle but I feel like you wouldnt be able to give up something i've worked on for so long. Maybe that just me but investing so much of yourself into something, i think it would be really hard to give up. Check out my post! http://adnabrkanicent3003.blogspot.com/2016/04/your-exit-strategy.html
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