What Exit Strategy do I Plan to Make?
The ideal situation would be that my retractable Eno Straps become patented, and such a hit that the actual Eno Brand buys out my idea/company.I have selected this particular exit strategy because It seems very practical. I do think I could get quite bored selling retractable Eno straps for the rest of my life, and it would make sense for a big name company to buy my small, supplemental product. Now this may be different is I expand my business and create other supplemental outdoor products, then I may stay with my company until I retire and then sell it. But as long as its just the retractable Eno strap business, I would sell it and use the finds for another venture!
I suppose my exit strategy has influenced the other decisions I've made during this process. Because it is a shorter term business plan, I identified a very simple opportunity and created a very simple product that could easily be sold. It has influenced my intentions for growth because I hope to be able to hit peak sales, and then sell the business!
Hi Holly! Great job on your exit strategy assignment! I also want to keep my company until I retire and pass it on to my family, but it was brought to my attention that my children/family member might not even want to take over my business. So, in the case they choose not to take over the family business, I will just sell at the end of my road like you! Great job!
ReplyDeleteHi Holly,
ReplyDeleteGreat job on your exit strategy! I agree with selling the product to other brands. It is something I would consider as well. I agree that venturing out to explore other outdoor product innovation possibilities is a great next step!
Hi Holly,
ReplyDeleteI think that you created a feasible and realistic exit strategy. Ultimately, it would be great if a large existing company bought you out because they would use their expertise and market share to really allow your product to reach the maximum amount of people. You would also have left your mark on the industry forever with your unique invention. Thanks again!
Karla
Holly,
ReplyDeleteI think that your assessment of what is the most reasonable outcome is correct. A large company like Eno would be quick to buy any patent on an applicable product that is popular and selling well. I like how your exit strategy connected with your product, as both are simple and to the point. Also, love the cute picture of the dog in the Eno.
Holly,
ReplyDeleteI think your strategy is actually the most logical that I've seen. It would make perfect sense for an idea like yours to exist to be bought out by a separate company who already has the infrastructure to produce entire enos, rather than trying to create the infrastructure yourself.
Hey Holly! I feel like your exit strategy will be the most beneficial for you in the long-run. If eno purchases your idea you will most likely be able to get a goos amount of money for selling the idea to the them and with that you do not have to worry about your business ending since it will be taken care of.
ReplyDelete