My Exit Strategy
My exit strategy for my app FitTrend, is to sell it for a large return in hopefully stock, (not a majority but a decent amount of shares), and some cash. This is because although I do think I have a chance that it could be successful, it would be more valuable and successful for a larger company that has the ability to run it properly. Whether it be a company such as LA Fitness or a tech company like Google, they would be better equipped to hire the personnel and grow the company than my limited knowledge of the subject, which requires me to outsource almost every aspect of the company. For this reason, I would sell for a large return with stock so I can get money for the future from FitTrend, as well as immediate money if I want to jumpstart a project that I’m more passionate about and more ready to handle myself. It hasn’t necessarily influenced me yet, as this is really the first time I’ve given it a lot of thought, but it definitely would factor into some of the decisions. I would focus a lot more on fast growth early, even if its not particularly sustainable, that way it looks more marketable and ready to buy, rather than slow growth outward where I make sure the foundation of the company is secure. I would maybe even lower prices to boost the number of subscribers up, and show how larger companies could very well grow the app with the right infrastructure.
Hey Carson,
ReplyDeleteI thought that you did an excellent job on this post. I thought that your thought on your exit strategy was very interesting. I did like the fact that you would sell your app for a large return, possibly even stock or cash. I feel like it the app can be sold, especially for a large sum, that it would be a smart move, as you would earn a ton of profit, as well as the fact that you would be more freed up to commit to other entrepreneurial efforts. Great job and keep up the great work!
Hey Carson!
ReplyDeleteGreat job on this assignment. Thinking about an exit strategy is definitely really smart so that way you can think ahead about what is best for the business and yourself. I definitely think this exit strategy is solid, in that at least if you sell it, it could have the platform to be something way bigger (with more resources).