Assignment 28A - Your Exit Strategy

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My exit strategy for when I exit the company would be to hold on to it until I can pass it down to my children. I would plan for my children to go to college and receive exceptional business degrees from great colleges and universities, and then I would teach them the ropes of the business so that it would be there for them when I retire. In case my children do not want to take over the venture, I would find someone who I find reliable enough to take control of the company eventually. I would show this person the ropes within the last ten years prior to retirement. I have selected this exit strategy because I want someone to continue the legacy that I have created, and I want someone to benefit from it. Without someone taking over the company, all of my hard work and dreams would eventually be ruined and fade. My exit strategy has influenced the other decisions I have made by allowing myself to prepare for the future. Without plans for the future, I would be forced to plan last minute and I might not be able to leave my children or the heir with full trust that they will take responsible control of the company.

Comments

  1. Evan SavageApril 13, 2019 at 5:27 PM

    Alexandra,
    I really like your exit strategy and how you value one your business, but also your family and their futures. This show's you the characteristics that are important to yourself, and the people that you care about. I would however hope for the best, but prepare for the worst and have an exit strategy that isn't so sunshine and rainbows just in case

    ReplyDelete
  2. melodyocasioApril 15, 2019 at 12:08 PM

    Alexandra,
    I also chose this exit strategy to an extent. Although i said i would prefer to pass on the business to my children, odds are I do not know if they want to inherit it, and if they do not I plan on selling my company to a buyer that offers me the right amount of what i believe my money is worth. If not i will retire out and promote a worker that has been along side me and does great work

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