Saturday, July 30, 2016

My Exit Strategy

I plan on either licensing the idea or making a quick exit after it has become worth several million in a few years.  I get bored with things if I do them for too long so I would rather sell the firm for a huge profit and look at investing into another firm that has already started or coming up with something else of my own.  I would consider remaining around for consulting services for the people who buy it from me.  I would also like to negotiate a royalties into the contract so I remain to make an income from the idea.  I don't think my exit strategy has changed much about what I would do for the concept.  I would still make it the best I can so that it will be worth as much as possible.




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3 comments:

  1. UnknownAugust 1, 2016 at 8:03 PM

    Hey Christopher,
    I think that if you get bored with things easily then it wise to sale while it is making good money. You wouldn't want to sit around with something that no longer makes you happy. I think that the royalties idea is smart. Why not still be making money off of something that was originally yours to begin with. Great exit strategy.

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  2. UnknownAugust 3, 2016 at 6:43 PM

    Christopher,

    I would say I have a similar outlook on life as well. I can become easily bored with an idea, hobby, or project. I also concluded my venture by saying I'd sell the business and attempt to start another. It's a good idea to continue to make money after your first successful venture in order to keep a steady income flowing in.

    Here is the link to my post.
    http://norrisufent.blogspot.com/2016/07/my-exit-strategy.html

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  3. UnknownAugust 3, 2016 at 10:46 PM

    Hi Christopher,

    Well I know you won't run into the pitfall of loving your venture too much that Dr. Pryor talked about! My exit strategy is similar in the regard that I plan on selling my venture as well. However, I plan on selling it due to the fact that I know I cannot take it past the local level. I lack the expertise and capital for that. However, you are selling your venture because you do not want it to hinder and future ventures you may have which is admirable.

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