1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
If my business were completely successful I would want to pass it down to my children and work with it until I think it was time to retire. Due to the pandemic ending, it would probably only strive strongly for 4-5 years but I believe it would still survive past this time period just at a lower extent. I believe that when you are doing something you love, you're not really working. Your just having fun and helping the community at the same time.
2) Why have you selected this particular exit strategy?
I think this is the best way to go, as the pandemic will get better, we still dont know how long masks will be needed and required. Many people get this virus and have no idea they have it, so im sure we will still be taking these precautions for many years to come.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources
Yes, I think I would need to start this business now for it flourish fully and be working to its full extent. This way it will have a peak of customers during the pandemic and people will hear more about the product and its advantages.
Hi Sophia! You did a great job on this assignment! I can tell that you put a lot of thought in the future of your company. I think that a business idea like yours would be really successful right now as masks have become a necessity now. I like that you would like to run your business and pass it on to your kids! Thank you for sharing!
ReplyDeleteSophia,
ReplyDeleteI think you did a great job on your blog post. It was organized well, and I could tell that you really thought about the future. I think you are right that masks are going to be part of our new normal for years to come. It’s great that you mentioned starting your business now to maximize your business’s potential. Thanks for sharing!
Hello Sofia,
ReplyDeleteIt is evident that you have put great thought into your product. The fact that you are already thinking long-term for friends and family is great. I also agree with you POV as to how people will still be wearing masks for years to come given that there is not really any significant advances with this pandemic. Great job!