I think I would probably stay with this business until I graduated from UF, and then hopefully try to sell it to someone else who I think would be able to manage it and grow it well. At most, I would keep the business for five years and then sell it. I’ve selected this particular exit strategy just because I want this to be a college business, and once I’m no longer in college, I want to be able to move on to bigger and better things. I will use this business as a learning experience and take what I learn from it and apply that to other business ideas that I come up. I really don’t think that I thought about my exit strategy in depth until this assignment, so I don’t necessarily think that it has an effect on any of the other decisions that I’ve made throughout the class. I want the business to be as successful as possible, no matter how long or how short I decide to keep it.
I like that you chose to stay with your business until after your graduation. Most entrepreneurs just sell it rather than keep building upon it. It's ideal that you are able to decide that your business should stay within the college spectrum. I also didn't think about an exit strategy nor ever considered it until this assignment. Sounds like a great plan!
ReplyDeleteI like that you plan to keep your business until graduation. After you graduate, it would be harder to keep up with the different classes that need tutors since you aren't in school anymore. It's a great learning experience that will help you whenever you would want to start another business.
ReplyDeleteI agree with Bianca and Michelle that it's smart to pass on your business after graduation, as the whole crux of your venture concept was that the business was run by a student, for students. I like how your exit strategy doesn't really effect your other business decisions. I agree that regardless of what you choose to do in terms of leaving a business, that shouldn't change or impact how successful it is.
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