It's quite difficult to be thinking of an exit strategy when I'm still thinking of a way to get this venture started. How I exit largely depends on many factors that are unforeseen. However, if my application Athlete Finder is successful, then I see no reason why I wouldn't just grow old like Conan here and rake in the profits. Ideally, I would hire a team that is constantly trying to update that app, making it more relevant as time goes on, and just oversee any big decisions. If the app is doing well and continues to do well, then I grow old and eventually would probably sign it over to my future kids. If the app is slowly going downhill, then I sell it off. Like I said, how I exit largely depends on information I don't have yet, so it's difficult for me to give a concrete exit strategy. This exit strategy hasn't influenced any decisions I have made while exploring this venture, and I imagine this is because I haven't even thought about it until this assignment.
Kyle,
ReplyDeleteI think that what you have said about having to wait to see what you do is important. I think other factors rather than profit can help make the decision about an exit strategy easier. For example, to me it is the fact that I really want the product model to succeed for the good of the population, thus I don't want to sell it. Overall, you have done a good job, and I think it is good that you have stayed realistic by knowing that you would have to see what happens before deciding something so pivotal