For my exit strategy, I would most likely see myself selling my venture within the next five years, making a profit, and moving on with something else.
I obviously have an interest in my venture, but at the same time this is not what I see myself doing for the rest of my life as my real passion lies in the travel and hospitality industry. While my venture is related to this in a way, it is still not quite where I see myself. Ideally, I see myself working for an international hotel company and traveling frequently rather than being the owner of a bus app company. It has always been my desire to have a career that takes me all over the world - I would rather make less money but have the opportunity for unforgettable experiences.
I am not quite sure whether or not my exit strategy has influenced my other decisions while working on my venture. I had never really thought about my exit prior to this assignment, but perhaps I subconsciously knew that I did not intend to stay with this idea forever and acted accordingly without giving it much thought. I tried to do my best on all of the assignments and complete them to the best of my ability, but I may not have had as great of a close and personal tie to them as someone who is actually using this opportunity to try to build their future upon.
Marissa, I have very similar feelings about my business idea. I feel pretty connected to it now, and would love it to succeed in the immediate future, but in five years I will have very little interest in it. It sounds like your investment thus far in the bus app will help you in the future with other travel ventures. Good luck! Feel free to check out my exit strategy: http://emilysentblog.blogspot.com/2016/03/my-exit-strategy.html
ReplyDeleteMarissa,
ReplyDeleteI am glad that you know where your passions lie and know how you want to handle a venture like this! Keep reaching for your dreams!I think that the bus app you plan to develop will really draw people in and make it a successful business. I can see it lasting much longer than the five years you plan to own it. I have similar feelings about my business venture as well. However, I don't plan on ever really working with my business. I want to create an on-campus UF drug store called Chomp N' Run. Because I want to partner with UF, I think it would be best if I sell the idea to them and let them run the business the way that they want to. If you're interested, check out my post at http://mbvandepol.blogspot.com/2016/04/my-exit-strategy.html
Marissa, hospitality and management is a very cool career. I did two years of this career in my home country and I have nothing but excellent memories. About your exit strategy I think most of us never though about this before. I'm personally surprise about this course because most of the assignments we have done are related to this entrepreneur idea we had in the first weeks. However I feel this class has teach me a lesson that would help in the future
ReplyDeletehttp://erickbvu.blogspot.com/2016/04/exit-strategy.html