1)
I intend to sell a portion of my business to
interested investors within the next 5 years for a return on investment. I
intend to stay with the business for maybe 5 more years before I let it go and
invest my time and focus on the next venture. I plan to develop the app into
not only a food app anymore but a dating app. Essentially the idea is to have
hungry study-ers (or whomever) post a message on the app asking for a food
delivery, and then the user would swipe up (to accept) or down (to decline)
from their choice of food deliverers. It’s like Tinder but with food. I believe
it is a good alternative because students would have the chance to meet someone
they might find attractive, pay tip (through the app to their deliverer, if
they wanted) plus it would be a good study break. I would still want to have
ownership over it, but I intend to sell portions of the business to interested
buyers. I believe it would be an interesting thing for my future children to
have as well, because each generation is different, and I would love to see how
the venture would grow within a 10-20 year span.
2)
I have selected this particular strategy because
I truly believe in this idea, and ultimately, at the end of the day, this idea
is my baby, and I intend on making it worthwhile.
3)
I think it has shown the growth that my venture
has developed throughout the planning process. It has definitely influenced my
abilities to identify opportunities in a collegiate environment. It allows me
to step back and ask the question, “Would ‘I’ even do this?”
I love your picture, a dramatic exit is great. Your strategy is different than mine for sure, personally I want to sell my business for a profit as soon as I can. I think that slowly selling shares is a great strategy as well and lets you remain in control of a large portion of the company.
ReplyDeleteHere is a link to my “My Exit Strategy” post: http://ent3003blog.blogspot.com/2016/03/my-exit-strategy-week-thirteen.html
Hi Lauren, I love how you mentioned not only ending this venture on a good note but also starting another one because I thought of it at first as something you start and finish and that's it-- it reflects your entire career and venture as an entrepreneur but why stop there? I don't know if I would sell it because I wouldn't want other people to take charge of my ideas and my business after I spend so much time creating it and molding it to perfection. However, if it calls for a big settlement and it allows me to take that money and travel and leave money behind for my children, then I would take it into consideration. I think your venture would grow as long as you retain that ambition of yours! Good luck!
ReplyDeleteHere is the link to mine:
http://myentrepreneurshipinizio.blogspot.com/2016/04/my-exit-strategy.html
Hey Lauren,
ReplyDeleteI think you have a great idea on a possible exit strategy. It's very important to know what you want to do with your business and life. I too plan to sell off my company when it eventually becomes potentially big enough. I looked into your other posts about your proposal and it seems really interesting! best of luck and keep up the good work!