Personally, I would intend to sell my business within 5-10
years. Unless there is an economic
downturn again that would hurt the value of the business completely I would
sell.
As an individual, who likes to try new things and
continuously succeed, selling makes sense for me at this stage in my life. It can provide me with at least a small nest
egg and then allow me to invest into another new business. Making successful businesses
would be something that I would definitely get addicted to, which is why I
would sell them to start other ones.
Also it has always been a dream of mine to learn how to play and become
really good at golf, so either after this venture or a subsequent venture I
would definitely want to learn how to play golf and go pro.
My exit strategy has influenced my previous decision
concerning my concept. Knowing that I
want to sell pushes me to perform better in the planning and early stages
because if it doesn’t succeed and I am unable to sell my business for much then
it is pointless and a waste of time, in my opinion. Also I
am always a person who has to plan, which is made easier with an end goal in
mind and it helps me focus on what needs to get done.
Since you enjoy trying numerous things and succeed in them, it will be beneficial for you to sell businesses. That will enable you to have the money to continue pursuing new ventures! Good Luck on everything!
ReplyDeleteHi Michael! I understand you when you say you would get addicted if you do not sell it. Wouldn't you be addicted already by that time? Nevertheless, it seems you know yourself well and know what is the best strategy for your business but more importantly, for you. It sounds great that you got yourself motivated due to this venture!
ReplyDeleteHave a successful business is had to do but once you grasp the swing of thing. You could make a lot of money and make fewer mistakes in the start up and the selling process. This is a cash cow type of idea if you can make the right move and find someone to buy your company in a fast and speedy way.
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