Monday, July 25, 2016
Exit Strategy
My exit strategy: having developed a large database of listings and partnerships with local investors, real estate agencies, and apartment complexes, I intend to sell my business in the next 5 years for a large return, as it will have accumulated great value but certainly lived a long life as a mobile application. I do expect the application to have plateaued in regard to acquiring interest from the target audience after 5 years of being on the market. Selling the data will benefit logistic services and other companies with the same target market, while also serving as a financial provision for my future entrepreneurial endeavors. I know that this venture will be relatively short lived - it will not be used 25 years from now and will likely only be successful for a short duration of time (5 years approximately), which has certainly influenced other decisions I've made in my concept. I know that in order for this service to be successful, it has to hit the ground running with guns a-blazing, and I've conducted thorough research and customer analysis in order to most efficiently and effectively develop this idea so that we are receiving constructive feedback from customers to grow rather than negative feedback about the flaws of the application (with heavy R&D the bugs will be worked out and the application will be tested prior to release). With a user friendly application that services the customers with excellence and ease, the marketing strategies will be easy to pursue and the app will flourish, becoming largely visible and widely used in college areas across the nation.
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Kenzie,
ReplyDeleteGreat job on your exit strategy post! I totally agree that this is the right move for you and you give a lot of evidence that this will be a very good buy for something to make. I also chose to sell my company as well after 5 years. My reasoning was a little different because my app wasn't my passion so I figured after 5 years I would want to move onto my next idea! Overall, great post!
I too decided to develop an app as my venture. I completely agree that with apps, in particular, it will be hard to keep them going for twenty five years. People simply will move onto the next big thing with shifts in technology. Who knows what will be possible on phones in even five years, let alone twenty five. I think selling early will be the best option and I also decided to move on in three to five years after creation.
ReplyDeleteKenzie,
ReplyDeleteI also had an app for my venture idea. Like you said, in the digital world, things like mobile apps have a limited shelf life, and have a fairly small window to reach their peak. I think your proposed strategy is the best option for you--selling your venture within 5 years for a large return. For the sublease market, there is only so much innovation that can be done after five years, so I think that it would work out best for you in both the short and long run to sell the business. I totally agree that selling your venture will give you some financial stability to pursue another entrepreneurial idea in the future, that's one of the first things I thought as well. It sounds like you have a really good grasp on how you plan to do things, and I think that's awesome. Good job!
Hello Kenzie,
ReplyDeleteI like how you know your market and how your business will peak within five years. I think you definitely know your product and customers to be able to choose this path. Great job on knowing what works best for you and your company!
Hi Kenzie,
ReplyDeleteIt is amazing how successful entrepreneurs can be over a very short time period, or decades. You have done a great job of understanding and analyzing your product and its market impact over time, so I am sure you will time your exit at the peak. Great work and best of luck on this and all your future endeavors.
mary@mail.postmanllc.net
ReplyDeleteNice Blog
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