Thursday, April 11, 2019
28A – Your Exit Strategy
I believe that the product I have will be able to survive past the initial 5 years and show a true profit. I don't believe that I will sell my company at this point. I intend to keep this company within my family business. This can be a product that might be able to have some copycats but if I always renew my patents and formulas, I will have a far superior product. Having this mindset has helped me be more aggressive when finding resources and capital investors\.
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I chose a different route then you, but I like yours as well. Keeping the company within your family business is a great idea as you are the original and everyone else will just be copy cats. I also agree that you must be aggressive to secure funding and resources.
ReplyDeleteFor my service I chose to sell it based on not wanting to continue my career in a college scene. As for your product I agree you should keep going through with it because it’s sometjing that will continue to grow and profit more and more
ReplyDeleteA family business could be interesting it would ensure that your family has something to support themselves with and that, hopefully, your vision for the company will remain in tact if your children take charge once you leave. I would consider doing the same, but I plan to sell my business after a while.
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