Assignment 28A- Your Exit Strategy
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?
Considering my business is attached to an already established business like Disney, I think I would probably just sell the rights to them so that they can continue to implement it. If the business takes off, there is really no reason for me to continue to be involved because they really would be the ones that are providing the technology. However, I would love to continue to stay involved with a company like Disney and continue developing ideas for them.
2) Why have you selected this particular exit strategy?
I selected this strategy because I think that once the product is developed and in stores, there is really no need for me to continue to be involved. They were the ones that created the magic bands, and my idea would just enhance their already established product.
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?
2) Why have you selected this particular exit strategy?
I selected this strategy because I think that once the product is developed and in stores, there is really no need for me to continue to be involved. They were the ones that created the magic bands, and my idea would just enhance their already established product.
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?
I don't think my exit strategy influenced how I came up with the opportunity. I think it influenced what I would do after I had created the product and what would happen after the product was being sold in the market. It also influenced how I would acquire the resources because I would have to partner with Disney and since I want to keep working with them after the product is sold I have to build a good relationship with them.
Hi Juliana!
ReplyDeleteI agree completely. I do not think we often choose our opportunities based on how we plan to leave them. I think selling it to Disney is a smart move for your company it makes sense and you could always stay with the company to help improve it down the line or work with another aspect if the Disney company.
Hey Juliana,
ReplyDeleteI agree with your exit strategy and would do the same thing. It is kinda hard to compete with a giant like Disney, so we might as well just join them and get a few millions, right? I always liked your idea and you could even expand to other areas such as New Orleans during Mardi Gras.
Hi Juliana! I think this is a great exit strategy choice for your business concept, I think a huge company like Disney would want to go this route and simply buy the concept and idea from you. It is a great way, like you said, to build a great relationship with Disney too and maybe allow you to work their or sell future ideas to them.
ReplyDelete