1) The way I'm handling my business is that I'm going to keep on doing the service until I find something to replace it. For now, it's a good form of some side income and I don't see much of a threat or competition coming from other people. But I intend on keeping the business small and not doing much to necessarily expand it because I don't want to have it to where I would need to hire employees. This whole venture isn't meant to be the start of some big business plan to be completely honest.
2) I selected this particular exit strategy because I plan on focusing a lot of my time to firefighting in the future and I don't really see this business expanding more than around town. This is also just a little business for me to have some extra cash for college because food is often pretty pricey; especially, when you like to cook a lot of interesting meals.
3) I do think that my exit strategy influenced my other decisions because from the get-go of the whole "creating a business venture" I was already planning on what I was going to do with the business. The resources I chose, especially Adam, is very close to me so I am able to just take a 10 minute drive to get some protein. Plus, I can get the rest of my resources from Publix and Target which are right down the road. I already had this opportunity going before this semester thinking that it wasn't going to be a life-long thing so the opportunity was influenced by the exit strategy. It also influenced my growth intentions because I don't plan on growing a business where I have no intentions on making it my primary job.
Austin,
ReplyDeleteYou did a really good job with this post. I think you have a smart exit strategy for the type of business that you are conducting. For my exit strategy I decided to sell my business while it is doing well, if that were to happen. For me I don't think that I would like all the work of keeping up with a business, so I would just sell it so I could continue on with my life.
Austin,
ReplyDeleteI completely understand your connections between your exit strategy and reasoning in the 3rd section of this post. Personally, my exit strategy was a simple one: grow the business and then sell it so that I can retire. I don't want to be working forever and it seems like you don't plan to be working on this opportunity forever. Overall, great job. We're almost finished!