1. Identify the exit strategy you intend to make.
I completely intend to stay with the business that I am developing and pass it down to the children in my family. It is my hope that we can always keep the business in the family, even as the generations go by, regardless of how large the company grows.
2. Why have you selected this particular strategy?
I have selected to stay with the company and protect it as a family venture because no one in my family has built a continuous source of wealth and prosperity. My mother raised me while living paycheck-to-paycheck and I want my kids to have all of the opportunities that some other fortunate families may have. A lot of my pursuits in life are because I want to pull my family out of poverty. I would like my kids to grow up and not have to worry about anything like that, and to know that they can do whatever they please because they will have a castle to come back to.
3. How do you think your exit strategy has influenced other decisions you've made in your concept?
My exit strategy, or lack thereof, means that I have to be completely invested in my venture because I am in it for the long haul. I have to put everything into making it work, and therefore, will try a lot harder to make it a long term success, since I don't plan on selling it off anytime soon.
Hey Josh, my first choice is also making my business into a family one. I would love to see my children running it when I retire. This is my first choice because I expect my business to do very well so that it indeed can be passed down from generation to generation. I would raise my children up to prepare them to run the whole business. If my business cannot support itself anymore, I will try to sell it and use the earnings to start fresh.
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