1) For my own exist strategy, I would most likely not sell it, because I know this app could become successful, but if the correct price comes, then I may think about selling it to a larger company. I just do not know how much I personally want to invest in this app because I do not see myself sticking to it and running my own business. I had always seen myself working for a company and just living my life comfortably. But you never know what the future holds.
2) I selected to not sell it because I know this app could potentially become successful because there is a market for it. If there was no market for it, and I found this out through interviews that there is a market for it, then I would sell it. Also it is kinda cool to put on your resume that you created your own company and ran your own business. But that comes with a lot of stress as well.
3) I never really thought about how I would exist for the past exercises. When I was trying to think of how to grow the company, I guess I just never thought to myself "am I gonna sell this company later on or keep it in my family for generations". Sometimes, having a family business can be a burden to future generations because it hinders their ability to truly find out what they want to do with their own life.
Hey Kristen, it seems you are a little conflicted in what to do for the future of this app, saying you don't want to sell it but also don't want invest too much time since you don't see yourself running your own business. It can for sure be a hard process being in college and actually trying to create this app and start a business. I think your app is a great idea and would be very successful if you are willing to put in the time and effort to make it so!
ReplyDeleteHey Kristen! I struggled with my idea of an exit strategy because it is hard to determine what the future will hold. I agree that I want to live a lifestyle that allows me to live comfortably, but I also want to pursue something that I have a passion for. I feel that if you have a passion for this topic and feel that it should be successful, that it something you should pursue.
ReplyDeleteKristen,
ReplyDeleteI think trying to find the way to leave the company or figuring out why to stay is a pretty hard decision. I think you showed that in your post. You both want to live comfortably but also want the success of starting your own company. Then you have the dilemma of whether or not to sell a booming business. On one hand you have the success of the business where you could potentially make more money or you could sell it for a high return.