1. Deciding how to exit my business was actually a much harder decision than I thought it would be. I have given so much thought into what it would do and how it would be ran and operated that I found myself surprisingly unequipped to answer the question. But after giving it a considerable amount of thought, I decided that I would give my company to someone much more capable of leading it five or so years down the road of it finding success should it do so.
2. I selected that exit strategy in particular for a number of reasons. The primary reason is that despite it being my idea, I am almost certain that I will want somebody more qualified and experienced to really take it to the highest high. While I don’t doubt my abilities to materialize this idea, I do doubt that I of all people should be the one to see it into maturity. Another reason is that I anticipate wanting to spread my wings and try other things in life, and holding onto the business might hinder that exploration.
3. I honestly think my exit strategy has had little to no bearing on the growth or decisions I have made on behalf of my idea. I never planned to have lifetime involvement in this idea; all I committed myself to was getting it from idea to reality, which is exactly what will happen.
Logan,
ReplyDeleteI always liked your business idea because i think it has a lot of potential. The fact that you are willing to give your business to someone that will take the most out of it is great. A good business man always needs to know where and when to sell the business. You have identified this and it is remarkable. You answered all the questions that we were asked to in a great way. Great job and keep it up with the busniness idea!
Logan,
ReplyDeleteI'd say your chosen path of industry exit is wise. Most entrepreneurs look at their businesses as their baby/gem. So, to pass the business on to someone you admit will do a better job, is an act of humbleness. Humility is a characteristic that is hard for many to obtain. I encourage you to exercise this. Great work as always Logan!
Finishing up your carrier can be a difficult decision to make. Since people may like to make money all the time when you retire, and if you do not plan well; You can be short of money, Medicare cost is increasing for the member at a high rate. For that reason, you have to be careful about your health. Eat the right calories, do not smoke, do not drink unless healthy drinks like wine, and safe for your retirement. There is an announcement that Social Security will shut down and become private if that happens to people that only pay SSA will receive less.
ReplyDeleteI was a little bit surprised that your, you need to be careful about your health and also how you should incoporate a balanced work life for your business and health
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