1. Ah, the exiting of the business. Like the assignment says, it comes at the very end of the entrepreneur's role in the venture, but in certain ways the way we grew the business itself was dependent on the exit strategy. For my business venture, MA, I would probably "lave the business" a couple of years after I graduated from UF. However, this would depend on whether UF would agree to add it either to their SNAP program or whether I would run the venture as a separate business. I would be much more likely to stay if I ran it as a separate business. On the other hand, the MA venture may last longer as a part of SNAP. I would like to pass on the business to my future children, who would possibly attend UF and see how the business positively impacts students lives.
2. I chose this exit strategy (if you can really call it that if it stays in the family) because I would want to still be able to oversee MA and its impact on the University of Florida community. Also, if MA were to become a staple of UF, I would want that honor to remain in my family.
Bianca,
ReplyDeleteYou did a great job on your exit strategy! I will start out with one piece of advice; it would have been best to give a rough idea of what MA is in the beginning. I can tell that it is connected to the SNAP program, but not sure how. I like that you plan to keep it in the family. Just like your business, I also plan to keep mine with the family and make it a wholesome experience as well. MA has the potential to stay with the university and the future generations of your family will know that you were the one who created it. Overall, great job on this post! If you get a chance, please check out my exit strategy at http://innovationnation101.blogspot.com/2016/04/my-exit-strategy.html
Hey Bianca,
ReplyDeleteIt's good to see your idea progressed this far. Many people are leaving after they view their business's life has come to its end, and for good reason too, since it is to make money. However, for your case, you have the options of giving it to your child, or implementing it as part of another company, which could be sold off in one sum. Your dedication to the Gator Nation here would be well regarded and you can provide an experience that not many businesses can. Keep up the good work. http://loganbrownuf.blogspot.com/2016/04/my-exit-strategy.html
Bianca
ReplyDeleteit was good to know about your exit strategy. Also, you are clear about your future way of retiring. However, isnt it better to choose talanted person who is right for the role in your company instead of choosing your family member ? maybe they dont want or they have different interrest in life
here is link to my page
http://sardorbek07.blogspot.com/2016/04/my-exit-strategy.html