Exit Strategy


28A- Exit Strategy
            My exit strategy will be dependent on two things; one if my children want to take over the business, if not I will sell the business only if the offers I have received are what I believe is of the companies worth. If I believe I have not received an offer that is high enough than I will continue in the company until my retirement and them promote someone who has worked for me for many years. This promotion will go to someone I trust that has dedicated as much time and effort as me to the company.
            I have selected this strategy due to the fact that I will not know the decisions of my family in the future and because of this I will keep my company until it is passed down, sold or taken with me until retirement. My strategy is basically a go with the flow type of deal, where life takes me.
            I don’t believe this strategy has changed anything currently, if anything it will help me change my product as the market changes in the future. For I will still be In charge of keeping my product and company relevant.

Comments

  1. Dylan LopezApril 11, 2019 at 11:19 AM

    Hey Melody,

    I like you exit strategy! I too, would like to have my children inherit my business and continue the family name. What I like about your post is how you included that they might not want to. I totally forgot to mention that in my post, but in reality, it is an important consideration. It is also true to me as well, if I was offered a high enough price for the company that reflects its worth in the future I would probably sell it as well. Great job!

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  2. Grace TurnerApril 13, 2019 at 6:07 AM

    Hi Melody,

    I never really thought of the idea of promoting someone who is currently within the company that has already put so much hard work and passion into the product. I think that makes really good sense and something that I may consider for my company now in the future. We do not know where life takes us. You are so right on that. You have to be okay with the chaos.

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  3. Jessi.GargiuloENT3003April 14, 2019 at 6:44 PM

    Hey Melody! My exit strategy was very similar, i also would like to pass my business down to my family or sell it if they don't want it when it comes time to retire. I also thing another factor to keep in mind is whether or not the business becomes profitable.

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