28A
my exit strategy would be to either sell the company in 5 years or keep it in the family for years. There is a debate only because I would have to see where I am in those first five years and determine whether it would be smart to stay or leave. I obviously would love to keep it long term and work
My way up to the top of the chain and have a sustaining business. That just may not be feasible and it will be a decision based off of facts. Either would be considered a success though because no matter what I did what I set out to do. Nobody stopped me and it was on my terms, not all businesses are there forever so selling out wouldn’t crush my spirits but comfort me in the sense that somebody wants to continue to use my idea. Having it in the family though for years after I left would also be something special because I would have the knowledge of being on top and having that satisfaction.
My way up to the top of the chain and have a sustaining business. That just may not be feasible and it will be a decision based off of facts. Either would be considered a success though because no matter what I did what I set out to do. Nobody stopped me and it was on my terms, not all businesses are there forever so selling out wouldn’t crush my spirits but comfort me in the sense that somebody wants to continue to use my idea. Having it in the family though for years after I left would also be something special because I would have the knowledge of being on top and having that satisfaction.
Hey Garrett!
ReplyDeleteI also chose to sell my company after being the person to grow it. There is a great sense of satisfaction and accomplishment if one were to create a successful business. However, I understand that when looking at the facts, it might be a smarter move to walk away from the business. Keeping it in the family is a wonderful gesture, too. However, I don't think I would ask that of a family member/child of mine. My passion is not necessarily theirs. My grandfather opened a pizza business and my uncle took it over after many years, but ended up selling it later on and changing career paths for something more stable. Anyway, good luck to you!