If my business ends up doing well, I intend on selling it after about 10 years. At some point I want to focus on financial advising and potentially creating my own business in that industry. Continuing to focus on maintaining my curriculum and finding schools to sell it to will consume a lot of my time. I would also like to have kids at that point so juggling this business in addition to financial advising and family life would be too much.
My exit strategy has not had much of an effect on how I've laid out my business plan. I still intend to build the best curriculum possible and go all out trying to find schools to sell it to. I have just decided that I don't think this specific business plan is something I want to dedicate the majority of my life to.
Sean, I like your idea for your exit strategy. I think that after 10 years of running a successful company you would have enough capital to open up your own business in the industry that you want. Additionally, I think that by selling you can work out a deal where you can still make money off of products sold even after selling your company.
ReplyDeleteHey Sean,
ReplyDeleteI like that you have a clear cut exit strategy. Ten years would give you enough time to prepare for your next venture. It is smart that you are also taking account of what the future of your family looks like to make sure that your job best fits your lifestyle. Hopefully this business would be very successful so you can move onto the next chapter of your career when you feel ready.
Hey Sean! I can understand why you would want to sell your business especially if it is not in the direction you intend to love nor have the greatest amount of passion in. One should always strive to do what they want or feel their purpose in life was meant to be and I believe that through selling your business you will be able to get there without a doubt.
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