Exit strategy-
1) I would stay with my business, as founder and CEO, for as long as I could. In that time where I have that position, I would try to develop the business as much as possible. I would try to grow it as much as I could, in other words, I would work for as long as I can to do as much as possible to go above and beyond the original goals. After I retire, I would pass it on to someone who is equally as passionate and eager to continue expanding. This person would also have to be dedicated to finding new ways that my business can continue its theme of environmentalism and social causes.
2) I selected this particular exit strategy because I want the business to maintain it's original foundation of social entrepreneurship and making a product-service that advocates for environmental and human welfare causes. I want it to continue this original objective, even after I retire. I want it to forever be known as a peaceful, environmentally-friendly coffee shop, and I feel like if I sell it for a return, it's development will be out of my control. Basically, I don't want anyone to tamper with its original purpose and message, which is why I'll choose someone with a similar original vision as I had to run the business.
3) I believe my exit strategy does reflect many of the decisions I've taken in developing my entrepreneurial concept. When working through the class assignments that guided me in developing everything, I made sure to maintain the original purpose of the business -- to create a quality coffee shop with delicious, healthy products that also incentivize people to support environmental causes. This remained constant throughout the whole process, and therefore my exit strategy shows that I will make sure it remains constant even after I retire. Consistency is a key pattern in my business, and has become a very valuable aspect in how I make decisions.
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Final Reflection
As I look back on all of my old posts, I've come to realize how much I've grown in this class and as an individual ...
Hey Liana, yet another wonderful assignment. It is evident in your exit strategy that you have so much passion for your venture. The fact that you want to work at this business for as long as possible proves just how committed and dedicated you are at achieving greatness while helping the world at the same time. Also, I think it’s awesome that you want to pass this business on to someone with your passion so that the mission of the company continues.
ReplyDeleteLiana:
ReplyDeleteI read your assignment “Your exit strategy.” I like your strategy: stay with your business as long as you could, try to grow the business as much as you could. In other words, you would work for as long as you can to do as much as possible to above and beyond the original goals. After you retired, you would pass it on to a person who is equally as passionate, eager to continue expanding, dedicate to find new ways that your business can continue its theme of environmentalism and social causes. Good idea.