I totally agree with exit comes at the end of the entrepreneurship process.
Here is my answer for exit strategy.
1) It depends how I'm doing in 5 years later. If my business gets bigger and succeed in 5years, I will keep going on business. It is great idea that pass it down to my children and maintain and change to my family business. I will also work for my own company for noting even I am retire.
2) I don't want to sell my company that I work entire of my life. If it is succeed or not, I will pass to my generation and make a family business. I selected this particular exit strategy because I want to get a responsible for what I did. It is great situation that I succeed and pass to my child but even I fail it is ok with also. I can give my child for challenge and they can feel the success by their own.
3) I had much influenced by this strategy. When I do an assignment, I get my feedback a lot. Also, doing an interview, I can learned how business works and process. It is important to know entrepreneurship before doing own business. It helps to think creative and get an responsible for what I am doing. Moreover, it influenced my growth intentions because it helps me to know what I really like and good at it.
Hi Jooncheol, we actually have a very similar exit strategy. I agree, that after putting in a lot of work to grow a business it would be hard to part with it. I, too, would want to stick with it till I retire and have it be carried on by my child or a colleague I deem worthy of taking it on. I think the fact that you would want to stick with the business shows that you envision being very passionate about the venture, more than just the monetary side.
ReplyDeleteHaving a family business is a wonderful idea! If you work that hard for your venture and it succeeds your family will be happy to inherit it. Success or failure will be something your children will learn from by watching you and how to react towards it! I wish you luck in everything!
ReplyDeleteThe only problem with passing it to your kids is if they even want to be in your line of work. While in theory, this is a good concept in actually business gets sold or die when the owner dies. If the business can become a family business that is great. It gives the customer a homey feel to the restaurant.
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