1. If my venture would turn out to become successful, I would sell my ownership stake if there was an offer that was good enough. By that reasoning, I would require an offer that would allow me to live comfortably for the rest of my life, or at least until the next work opportunity comes along.
2. I have selected this exit strategy because I want to work as little as possible. If I could sell my idea for a sizeable amount of money, i would be in a position where I could get out of the business quickly. I am risk-averse and would not want to be involved in anything where I do not know my outcome in the future.
3. This exit strategy has probably influenced my attitude towards entrepreneurship. If I ever do have an idea that gains attention, I would absolutely get out as early as possible because I do not like to take risks. You never know when your idea will fail or change your life entirely. Therefore, I would get out, and quit while I'm ahead.
Greg,
ReplyDeleteYour take on your exit strategy was very interesting to read. I would if you were to actually create a company from scratch if you would change your mind at all because you would have actually done all the work to get to that point. I do respect your decision to take a buyout for your company, especially if the person purchasing had a good vision for your company after they bought it.
Hi Greg
ReplyDeleteYour decision to quickly take an exit from the business was pretty interesting, and I like how you’re rational and reasonable while making that decision. I’m especially impressed by how you’ve already grasped your personality traits and made the firm decision that you don’t really suit all this although you would have put a lot of effort into your business and would even feel reluctant to let go.
Hey Greg,
ReplyDeleteI agree that for your situation taking a good offer for your ownership stake is the best option for you. Especially as you are risk averse then knowing that you are getting out while the ship is still floating is ideal, because as you said, you never know when your idea will sour or competition will come along and extinguish your business.