28- exit strat

My exit strategy is pretty straightforward. I plan on growing the company until it's big enough and successful enough to the point where a larger company will buy it out for a large sum of money. I don’t necessarily have a time frame on it, but I don’t plan on taking the first offer I get unless it is one I cannot refuse. The only way I can see myself staying with the business is if I do so well that I can sustain my business and continue to grow it and branch out into making new products and form my own P&G or something similar. 
I have selected this exit strategy because it is the most realistic outcome for a new start up that becomes successful. I feel like it's much more likely that I am able to sell the business for a large sum of money and let the larger personal care brands produce my product because they have a lot of resources to design a similar product of their own. Even if I get a patent, I feel as though the bigger companies can get around it one way or another. The only case I can stay in the market is if my product does so well it allows me to produce more products on a large enough scale to do extremely well in sales. From there on I would keep the business and make more and new products, but it is not as realistic as being bought out. 

The exit strategy has not really affected my concept at all because at the end of the day it's all about making something that solves a problem and fills the want/need of the customer. The only small factor it may play is how I use resources. Instead of using a lot of resources for R&D of a new or enhanced product,  I would just use it to be more efficient in producing and selling the current product.

Comments

  1. Janzen RichApril 17, 2020 at 4:47 PM

    Great post Marcus. I had a similar exit strategy and I think the take the money approach is the best for pursuing other goals and ventures. I also agree that this strategy doesn’t affect the approach in building the business to serve the needs of the customer. Meeting and filling the need is still the top priority and properly meeting the needs of the customer is what makes a business successful in the workplace.

    ReplyDelete
  2. Janine SantiagoApril 17, 2020 at 7:10 PM

    Hi Marcus, great post! I loved to read about your exit strategy and the plans you have for your business. I think it is smart that you said you would not take the first offer you get - I said the same thing about selling my business. You have a great product, and with that mindset, you can sell it in a strategic way.

    ReplyDelete
  3. JakeApril 20, 2020 at 2:00 AM

    Hey Marcus,

    Great post! I really enjoyed reading about your plans once you reach satisfaction with your business. I also chose the same exit strategy as I cannot really imagine myself or my family running the business in the long run. I can completely relate with you with how your exit strategy didn't influence any business decisions. This was a great product, and the right people should buy it.

    ReplyDelete

Post a Comment

Popular posts from this blog

29a - venture concept 2

Image
Part I Opportunity: The opportunity I noticed was that I was tired of having to constantly use dull razors to shave, or be forced to go out and spend time and money buying new ones. My facial hair grows out fast and I like to stay relatively clean shaven, so repeatedly buying new razors is not really an option when you shave as much, and have as little money as I do. People who find themselves shaving often, and don’t have the time and money to buy new razors all the time are the people who would be in need of a product to solve their problem. Furthermore, there are many demographics and/or geographic who may be affected by this issue, because people of all ages and genders who have the need to shave could use a product that solves the problem. Shaving and more broadly personal care is a huge industry and having a product that solves the problem of razors becoming dull too quickly seems to be a big opportunity that could last for a long time. Innovation: The product that I came up with...
Read more

Identifying Local Opportunites

Marcus Manzoni ENT3003 January, 28, 2020 Identifying Local Opportunities Article 1: Title: N.Y. plastic grocery bag ban starts March 1, some fear confusion, loopholes Link: https://www.timesunion.com/news/article/Plastic-grocery-bag-ban-is-just-over-a-month-15008488.php Description of story: There will be a plastic bag ban in New York starting on March 1st to help protect the environment. With this ban most stores will begin to charge a few cents for paper bags, but there is a loophole that if the plastic bag is thick enough it will be considered reusable. While it's better for the environment, some are worried about the transition and the cost of paper bags. Description of problem: plastics bags are being banned and people are going to be charged for paper bags in New York. Who has the problem: New York citizens, grocery stores, government officials Article 2: Title: Getting There: Thruway tolls may soon be completely cashless & more expensive Link: https://www.timesunio...
Read more

Halfway Reflection

Image
Marcus Manzoni ENT3003 February 25, 2020 Halfway Reflection 1.To keep up with this course, my best strategy has been doing the assignments at the very beginning of the week. The assignments are mostly easy but they are definitely tedious and can be time consuming depending on the requirements, so I prefer doing them on a Monday or Tuesday just so they aren’t hanging over my head the rest of the week. 2.I have never really wanted to “give up” per se, but I have had times where I was frustrated with the class. The first was when for one of the earlier assignments I forgot to declare the comments I made for the post, which is a process I never had to do before and I was not accustomed to doing so. Even though I did the work, because I didn’t declare I lost points and that is frustrating. The second thing that has tested my compliance has been the assignments that require interviews. I do not enjoy these assignments because they can be a lot of work and I don’t like conducting...
Read more