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My exit strategy would definitely be to sell my business in the next five years for a sizeable return. Although I love my business idea and the good it could do for people I will want to begin another venture which was still geared towards sustainability and conscious consuming. I have selected this strategy because I don’t want to be in control of an application. If I could start over, I would choose a viable product as my business venture. I believe my exit strategy has influenced the decisions I’ve made towards my concept in a positive way. I believe I now have a better grasp on the type of problem identifying I need to do in order to devise a viable concept which could eventually turn into a flourishing business. I’ve come to the conclusion that the application market is just too oversaturated for my liking. The next product I’d like to make will work to relieve environmental stressors, while also solving a problem for many consumers.
Hello again, Ayla.
ReplyDeleteI like your exit strategy because it seems that with applications, it is a faster exit. I do not really know about the market saturation in the app world but you seem to have done a lot of research while creating your product. I can also see you staying in the field of conscious consuming and sustainability. It seems like you have a passion for protecting our planet and making it better for the generations to come.
Hi Ayla,
ReplyDeleteI also chose to sell my business after five years for a profit. I would like to be able to retire early in life so that I can travel like you probably do to! It sounds like once you finish this products life, that you would start another opportunity. That is great that you want to help the environment because we need more people like you that are trying to change the world. I look forward to reading your next weeks post and good luck!