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28A - Your Exit Strategy

1) I intend to sell the business within 5 years if I reach the levels of success that I think my venture is capable of reaching. I think this is the right course of action for an entrepreneur to make.
2) I've picked this particular exit strategy for multiple reasons. For one, I think an entrepreneur shouldn't be tied to one project. Being creative and having success in multiple ventures that all have varying fields is the ultimate sign of success in my eyes as an entrepreneur. Secondly, allowing your venture to succeed amongst multiple forms of ownership is the ultimate sign of success. This means that as an entrepreneur, your idea was so good that people outside the founder agree with it and will put in the same energy and effort to see it succeed. 
3) The main thing that my exit strategy influences is having outside influences have their say on my venture. I'm a huge believer that someone should have multiple advisors in order to determine what needs to be improved on with a specific project. I feel like so often people are blinded by their own work that they feel nothing is wrong with it. I would hate for this to happen with my venture. The goal of my venture is to help thousands of people not experience the same segregation that my family faced when they moved to America. Because of this, I am focused on exploring every opportunity to improve upon my venture in order for it to succeed. 

Comments

  1. Brooke RossmanNovember 25, 2019 at 10:05 AM

    Hey Jordan!
    I think you're right about not letting your first (and only) business idea tie you down. As you said, you shouldn't be tied to just one project. I think it's smart of you to get the business where it needs to be before you step back from it, as this will give you plenty of experience working as an entrepreneur and also hopefully give you the time and resources needed to come up with another idea or even network enough that you can partner up with someone else and go from there.

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  2. Philip AciernoNovember 25, 2019 at 11:20 AM

    Dear Jordan,
    I agree with your desicion to sell, I planned on doing the same thing. I did not think of it as being tied down to one venture and not being able to branch out a see other ones. That is a very good perspective that I am sure not many people thought of only because theyre thinking about the end not what is to come after. great post!

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